How much does a battery cost in Iceland?

As of 2025, the average price for lithium-ion battery systems in Iceland hovers around $150–$200 per kWh. That’s 10–15% higher than EU averages, thanks to those pesky import fees. But here’s the kicker: Iceland’s unique energy profile means batteries aren’t just for grid backup.

What is the most sold electric vehicle in Iceland?

The Nissan Leaf is the most sold fully electric vehicle in Iceland, with over 3,000 vehicles registered since 2010. In 2022, the market share of battery electric vehicles (BEV) was 33% and plug-in hybrid electric vehicles (PHEV) was 23%. This brings Iceland's plug-in market share to just under 56%, the second highest market share in the world.

How many EVs are there in Iceland?

Iceland has a total of over 315,000 registered vehicles compared to, for example, Germany’s over 47 million. The infrastructure to build to develop a national EV market in Iceland is also significantly smaller than the one that would be needed to connect continental Europe.

Does Iceland have an EV market?

"You could say that it’s easier for us than other countries to do this [develop an EV market], for the number of cars we have," Ólafsdóttir said. Iceland has a total of over 315,000 registered vehicles compared to, for example, Germany’s over 47 million.

How much money does Iceland spend on EVs?

From 2012 to 2022, the Icelandic government spent around 28 billion ISK in tax incentives for EVs. In the mid 2000s, Orkuveita Reykjavíkur installed outlets in various locations including downtown Reykjavík, pictured.

Does Iceland have EV charging infrastructure?

In 2018, a major milestone was reached in Iceland's EV charging infrastructure, when the ring road (Route 1) was covered by DC fast charging stations with a distance of within 100 km between each station.