NewEnergyNews: Geothermal Drives Iceland Energy Costs Low

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    Friday, September 02, 2016

    Geothermal Drives Iceland Energy Costs Low

    Geothermal energy giving Iceland lowest heating costs in the Nordics

    Alexander Richter, 29 August 2016 (Think GeoEnergy)

    “…While all over the world, people experience high utility costs particularly in countries that need heating during colder months, people residing in Iceland benefit from the lowest heating costs of all…[the Nordic countries] of Finland, Sweden, Denmark, Norway and Iceland…[I]t costs five times more per year to heat households in Helsinki in Finland than in Reykjavik, the capital city of Iceland…In Reykjavik, the annual cost of heating for a 100 square meter apartment (around 1,080 square feet) and an estimated use of 495 tons of oil equivalent/ annually, the cost is EUR 648 ($724), compared to this – residents of Helsinki, the capital of Finland pay nearly five times the amount or EUR 3,243 ($3,623) per year…The second most expensive city, based on heating cost is Stockholm/ Sweden, followed by Copenhagen/ Denmark and Oslo/ Norway…With 90% of all households in Iceland heating with geothermal energy, in Reykjavik all houses are utilising geothermal heat…In the Nordic countries, electricity or fossil fuels are the main source of heating…” click here for more

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