The renewable energy resources of Iceland and the extended future local utilization

Iceland is blessed with an abundance of renewable, emission free energy resources while presently importing oil and gas to serve energy needs, such as in the transportation sector, where the indigenous energy resource cannot presently be utilized. In this paper we will survey the present and forecasted demand for energy both in conventional and non-conventional sectors and review the possibilities of self sustainable energy futures for the country, also considering the present utilization in the energy intensive industry. In addition to possible future fuel replacement in the transportation sector, with the associated forecasts and technological scenarios for electric and hybrid cars, electric trains we consider other local demands, such as in the information technology sector. Finally, the paper presents and summarizes possible energy future scenarios with different levels of renewable energy resources substituting emission intensive energy use.