Iceland's energy resources and Master plan with environmental and economic constraints

The Icelandic Master plan (MP) for evaluating renewable energy resources was initiated by the Government of Iceland in 1999 and is currently in its Phase 2 stage, here called MP2. MP2 is at the time of writing, under review by the Iceland Parliament (Alpingi) waiting to be passed as law and is subject to environmental and economic scrutiny. The MP2 continued the effort of MP1 of assessing the country's hydroelectric and geothermal energy resources but with the emphasis on preservation vs. utilization. Other renewable energy resources, such as wind and solar, have not been estimated in the MP. The energy resources and progress in their evaluation in the MP is reviewed and summarized and results and conclusions are drawn regarding these indigenous energy resources, as seen in the MP2. The paper sets forth an updated view of the scope and limits of the viable energy resources in terms of hydro and geothermal resources and projects to be harnessed in the future for local utilization and export.