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III. NATIONAL ACTIVITIES ICELAND Development cost trends have been stable except for increases in steel prices. Performance improvement has been dramatic and the time for drilling high temperature geothermal wells has been reduced from 55 to 40 days. This has not yet affected the cost for the energy companies as the prices are unit prices and they have not been changed. 11.6 Development Constraints Development constraints are mostly due to environmental issues, though geothermal energy was looked upon more positively than hydropower in a recent national review. Local issues do place constrains on drilling sites and access to them. 11.7 Economics Recent developments of geothermal resources have demonstrated that geothermal power plants can compete with hydro power plants in the country in providing electricity for the industry of aluminium smelters. Government investment in geothermal has increased due to the large demand for the power intensive industry. The cost of energy has been stable. 11.8 Research Activities 11.8.1 Focus Areas Research is focusing on known high temperature geothermal areas for the purpose of categorizing them for future electricity production. In addition, geothermal areas are being searched for near districts that do not currently have geothermal space heating. A consortium of Icelandic energy companies is preparing to drill a 4-5 km deep drill hole into one of the high-temperature hydrothermal systems to reach 400-600 °C hot supercritical hydrous fluid at a rifted plate margin on a mid-ocean ridge. The main purpose of the project is to find out if it is economically feasible to extract energy and chemicals out of hydrothermal systems at supercritical conditions. The first candidate well was drilled to 3,000 m depth at Reykjanes and further drilling is planned for 2006. 11.8.2 Government Funded Research During the past six years the Ministry of Industry has been running a program to encourage geothermal exploration for domestic heating in areas where geothermal resources have not been identified, so-called “cold areas”. A total of US$1.9 has been granted for this purpose and used mainly for drilling 50-100 m deep thermal gradient exploration wells. This method has proven to be a successful exploration technique in Iceland. 11.8.3 Industry Funded Research In the past years, Reykjavik Energy has been drilling several exploration and production wells on Hellisheidi, where they have started the construction of a new 80 MW power plant for both electricity and hot water production. Also at Nesjavellir, new wells have been drilled in preparation for expansion of the existing power plant. At Reykjanes, Hitaveita Suðurnesja has been carrying out exploration and production drilling in connection with the decision to utilize this high-temperature field for power production. They plan to build, as a first stage, a power plant of 90 MWe. IEA Geothermal R&T Annual Report 2004.doc 67PDF Image | Geothermal Energy Annual Report 2004
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