Iceland has a brave challenge. In 1998 they made a promise to be totally fossil fuel free by 2050. With only 40 years left to achieve the goal, they are making significant steps to actualize it.
They are joining the Mitsubishi electric car program, allowing the Japanese company to test their electric car, the iMiEV on the island in 2009. Iceland’s president, Olafur Ragnar Grimsson, is signing the papers to empower this project.
The Mitsubishi iMiEV is 100% electric and will be ready for production by 2010, the same time the Chevy Volt and the new Toyota Prius are set to release.
"Its only limitation is range since even the most advance lithium ion batteries only provide enough power for 100 miles," Autoblog Green says. "But that’s more than enough for Iceland since 75% of the population lives within 37 miles of the capital, Reykjavik."
Eco Iceland Initiatives
Mitsubishi iMiEV Electric Car Program
Trend Themes
1. Fossil Fuel-free Iceland - There is an opportunity for the development of renewable energy solutions in Iceland to help the country achieve its goal of becoming completely fossil fuel-free by 2050.
2. Electric Car Programs - Companies can innovate in the auto industry by investing in electric car programs like Mitsubishi iMiEV which rely on renewable energy sources instead of fossil fuels and reduce carbon emissions.
3. Advanced Lithium Ion Batteries - There is potential for companies to develop new and improved lithium ion battery technologies to increase the range and power capacity of electric cars such as the Mitsubishi iMiEV.
Industry Implications
1. Renewable Energy - Iceland's goal of being totally fossil fuel-free provides an opportunity for the renewable energy industry to develop innovative solutions to meet the country's energy demands.
2. Automotive - Companies in the auto industry can incorporate the use of electric cars in their lineup to keep up with the growing demand for eco-friendly vehicles.
3. Battery Manufacturing - There is an opportunity for the battery manufacturing industry to develop more advanced lithium ion batteries to meet the growing demand for electric cars and increase their market potential.