Societal and environmental impact of high energy return on investment (EROI) energy access

The Icelandic society is conveniently located where the Eurasian and North-American tectonic plates meet. This allows for relatively easy and cheap access to geothermal energy. Icelanders have benefited from this since settlement, first through direct use of the warm water but later on by co-producing electricity. The nation also benefits from large glacial rivers, offering potential for energy harvesting. This chapter explores the various benefits from utilising renewable energy, using Iceland as a case study. This is demonstrated by exploring the energy return on investment (EROI) for the Nesjavellir geothermal and Fljotsdalsstod hydro power plant and the CO ₂ mitigation provided by the resources as the Icelandic society no longer needs to rely on fossil fuels for electricity and heating. This chapter demonstrates systematically how societies may benefit ecologically but also energetically from access to renewable energy sources.