Geothermal Economic Impact Data Base


 Project ID:  09-02-017
 Project Coordination:  University of Iceland
 Name of Coordinator:                     Sveinn Agnarsson
 Other Partners: National Energy Institute
 Duration: 3 years
 Total Project cost:  20.118.000 ISK
 GEORG Funding:   8.540.000 ISK
 Project Website: 
 Publications / Reports: 
    Project Plan: - Download pdf -
    Final Report:  - Download pdf 

 Project Abstract 

Project proposes to assemble a data-base of how geothermal energy is utilised throughout the country and the development of this usage through time. Although the economic and social effects of geothermal energy may at first seem obvious, it is essential to map these impacts and analyse at both regional and national levels how the utilisation of geothermal energy affects households and firms. The data compiled will be linked to data from Statistic Iceland to construct dynamic input-output accounts that allow us to trace the utilisation of geothermal energy through the economy, enabling a thorough assessment of its importance in the national economy.

Project finished in 2013 

GEORG WP - Relevance Description

GWP2:  Output 1 Ph.D.s from UoI and 1 masters. Cooperation between faculties of UoI, and the industry, clears new pathways for interdisciplinary education and research in Iceland as it relates to energy resources.

GWP6: complements data from LCA in WP6.2 for a thorough cost-benefit analysis and LCC analysis. Is vital for assessment of sustainability protocol.

GWP7: Effort is a prerequisite for all other work to be undertaken in WP7.  IO model will be complemented with the social impact data, assembled in Task 7.2 of WP7, allowing full quantification of social and economic effects geothermal energy utilisation has on Icelandic society. The resultant social-economic IO accounts are also necessary for Task 7.3.  It will also be utilised to analyse the macroeconomic effects of geothermal energy use (Task 7.4) as complex intra- and inter-industry relationships must be accounted for to properly evaluate macroeconomic impacts.

GWP8:  Parallel to dissemination and outreach strategy.