Iceland is not a leader for U.S. geothermal
The second thing that caused concern around the world was the eruption of a volcano on the island and the dust cloud that spread across Europe a couple years ago. What is so interesting is that there was no business interruption on Iceland, and the international airport was closed only one day as the ash floated away from the country to Europe, explained Bjarnason.
There has been no loss of life from volcanic eruptions or earthquakes on Iceland in modern times, other than one over zealous scientist. Earth movement is quite subtle with the country stretching from 2 to 4 centimeters per year.
To conclude, the Invest in Iceland and Reykjavik Energy officials all agreed that the effort to grow the country’s economy is not going to happen by only focusing on exporting their excess power but will be better for Iceland if industries/customers are imported to use the power.