Electricity for Cars Costs Much Less than Fossil Fuels Skip to content

Electricity for Cars Costs Much Less than Fossil Fuels

Ólafur Bjarnason, director of transport for the City of Reykjavík, stated at a meeting yesterday that if the half of the capital’s inhabitants would use electricity instead of fossil fuels to power their cars, up to ISK 5.4 billion (USD 43 million, EUR 29 million) would be saved each year.

The traffic in Reykjavík. Photo by Páll Stefánsson.

Bjarnason explained that electricity only costs ten percent of what fossil fuels will cost, around ISK 600 million (USD 4.8 million, EUR 3.2 million) instead of ISK 6 billion (USD 48 million, EUR 32 million), Fréttabladid reports.

The government announced its plans for a new taxation system on Wednesday, which include an increase in the price of gasoline and diesel oil.

According to Bjarnason, Reykjavík City’s policy is to guarantee transport without compromising the health of its citizens, environment and the overall atmosphere of the capital.

Bjarnason pointed out that the growing density of the population supports more versatile modes of transport.

Smaller vehicles are becoming more common, he said, which enables the use of Icelandic energy sources like electricity, methane and methanol, in addition to the vehicles requiring smaller space and polluting less.

Click here to read more about Reykjavík City’s policy on electric cars.

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