Geothermal power in Iceland in the context of "Carbon footprint"

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⭐ Core Definition: Geothermal power in Iceland

Geothermal power in Iceland refers to the use of geothermal energy in Iceland for electricity generation.

Iceland's uniquely active geology has led to natural conditions especially suitable for harnessing geothermal energy. Icelanders have long used geothermal energy for direct applications, such as heating homes and baths. The more recent, widespread adoption of geothermal energy as an energy source in Iceland was spawned by a need to stabilize energy prices and increase energy independence, allowing Iceland to increase reliance on geothermal energy for direct applications alongside electricity generation and contributing significantly to diminishing Iceland's carbon footprint.

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Geothermal power in Iceland in the context of Geothermal power

Geothermal power is electrical power generated from geothermal energy. Technologies in use include dry steam power stations, flash steam power stations and binary cycle power stations. Geothermal electricity generation is currently used in 26 countries, while geothermal heating is in use in 70 countries.

As of 2019, worldwide geothermal power capacity amounts to 15.4 gigawatts (GW), of which 23.9% (3.68 GW) are installed in the United States. International markets grew at an average annual rate of 5 percent over the three years to 2015, and global geothermal power capacity is expected to reach 14.5–17.6 GW by 2020. Based on current geologic knowledge and technology the Geothermal Energy Association (GEA) publicly discloses, the GEA estimates that only 6.9% of total global potential has been tapped so far, while the IPCC reported geothermal power potential to be in the range of 35 GW to 2 TW. Countries generating more than 15 percent of their electricity from geothermal sources include El Salvador, Kenya, the Philippines, Iceland, New Zealand, and Costa Rica. Indonesia has an estimated potential of 29 GW of geothermal energy resources, the largest in the world; in 2017, its installed capacity was 1.8 GW.

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