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electric car charging station

112 Charging Stations to Be Installed Around Iceland

According to an announcement on the Government of Iceland’s website, the Energy Fund has allotted subsidies to commercial lodging companies around Iceland for the installation of electric vehicle charging stations. The grant, which amounts to over ISK 30 million, will allow for the charging of 110 electric vehicles at any given time. Applicants are expected to provide a complementary contribution of at least half. The project’s total investment, therefore, amounts to approximately ISK 60 million.

This summer, three government ministers introduced a plan to systematically improve infrastructure for the proposed energy transition within the transportation sector. On the same day, proposals were called for regarding investment subsidies for the development of electric vehicle charging stations on the premises of commercial lodging companies. Subsequently, the Energy Fund was tasked with distributing the subsidies. A total of 26 grants will be allotted for the installation of 112 charging stations around the country.

The announcement also underscores the impact of car rental companies in Iceland; nearly half of all newly registered vehicles in Iceland are rentals. In order to facilitate the energy transition of car rental companies, the subsidies aim to increase charging stations on the premises of commercial lodging facilities around Iceland.

Over the coming months, further investment subsidies for the construction of fast electric vehicle charging stations will be allotted. Proposals for such subsidies were called for this summer. Numerous applications were received, which the Energy Fund’s prudential committee is currently reviewing. These grants will be employed to construct fast-charging stations in key areas to ensure that electric vehicles can travel unimpeded between different parts of Iceland. According to the announcement, this is important because the number of electric vehicles in Iceland is quickly increasing. Only in Norway do electric vehicles account for a higher ratio of new registrations.

The above-mentioned grants are based on proposals made by a task force appointed by the Ministry of Transport and Local Government, the Ministry for the Environment and Natural Resources, and the Ministry of Industries and Innovation. The task force was entrusted with proposals regarding a plan of action to facilitate energy transitions in Iceland. The project forms a part of the government’s platform of action against climate change.

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