Iceland is a world-leader in the application of renewable geothermal energy for both domestic and industrial purposes. Nearly 90% of Icelandic homes enjoy heating by geothermal energy at a price usually less than half of the comparable cost of oil or electric heating. This is one of the contributing factors that make Iceland one of the greenest environments in Europe.
Iceland’s advantage lies in Iceland’s geography and location, right in the middle of a volcanic hot zone, which makes it possible to harness considerable resources of both hydroelectric power and geothermal energy. Hydropower and geothermal energy are the sources of Iceland's unique ability to generate electricity in a sustainable manner. These environmentally-friendly resources produce electricity without emitting greenhouse gasses.
The country's state-of-the-art energy infrastructure is highly ranked on international business indices for reliability, efficiency and cost.Iceland still has large resources of competitively priced hydroelectric power and geothermal energy remaining to