Plans to Increase Available Energy by 20% Skip to content
Minister Guðlaugur Þór Þórðarsson.
Photo: Golli. Minister Guðlaugur Þór Þórðarsson..

Plans to Increase Available Energy by 20%

With increased energy efficiency and the use of new energy sources, available electricity in Iceland could be increased by 3,800 gigawatt hours (GWh). This estimation, presented by a working group operating under the ministry of the environment, energy and climate, would mean a 20% increase in available energy by the year 2040, reports.

Small hydro and increased efficiency

Gunnlaug Helga Ásgeirsdóttir, chair of the working group, told reporters today that 400 GWh of the total would come from solar energy, 200 GWh from marine energy, 1,200 GWh from new small hydro projects, and 2,000 GWh from increased efficiency and flexible electricity usage.

The working group called for a policy where new buildings would be ready for solar panel installation by 2030. Homes should additionally become active consumers and even producers and distributors of both solar and marine energy.

Incentives lacking

The working group’s report has 50 proposals to meet these goals. The group found that due to low energy prices in Iceland, incentives for new energy solutions were lacking. The competitiveness of new sources, such as solar and marine energy, should increase in the next few years, however, due to technological process and lower equipment prices.

“This is a report everyone should read,” said Guðlaugur Þór Þórðarson, minister of the environment, energy and climate. “It’s about creating the conditions and incentives so we can let the ingenuity begin. We have incredible opportunities and we should approach this task with that in mind.”

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