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A Mathematical Model for Estimating the Life-Cycle Costs of Hydrogen-Powered Vehicles

Received: 28 April 2014     Accepted: 8 May 2014     Published: 20 May 2014
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Abstract

This study provides a mathematical model that delivers fundamental data for developing a pricing strategy for fuel cell electric vehicles (FCEVs). A mathematical model that transforms the life-cycle cost of a hydrogen vehicle into the corresponding gasoline vehicle is designed using cost-benefit analysis and life-cycle analysis. The FCEV obtains economic advantages when its life-cycle cost is less than or equal to the life-cycle cost of the corresponding gasoline vehicle. Because there is a trade-off between the FCEV’s price and the hydrogen fuel price, the results provide a number of price combinations that can be used for decision-making purposes. Using this model, car makers can develop a number of FCEV pricing scenarios, and policy makers can establish support systems to encourage the market entrance of FCEVs such as a subsidy for purchasing and producing FCEVs and/or hydrogen energy. This study delivers a number of combinations of FCEV-hydrogen fuel pricing combinations, comparing the life-cycle costs of conventional gasoline vehicles and hydrogen fuel cell vehicles.

Published in Science Journal of Energy Engineering (Volume 2, Issue 2)
DOI 10.11648/j.sjee.20140202.12
Page(s) 13-17
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2014. Published by Science Publishing Group

Keywords

Fuel Cell Electric Vehicle (FCEV), Life-Cycle Cost, Transformation Model, Hydrogen Fuel Price, Price Scenario

References
[1] A. Simpson, “Cost-benefit analysis of plug-in hybrid electric vehicle technology,” Hybrid and Fuel Cell Electric Vehicle Symposium and Exhibition (EVS-22), Japan, pp. 23-28, October 2006 [Pre-sented at the 22nd International Battery].
[2] IEA (International Energy Agency), Transport, energy and CO2: moving toward substantiality, 2009.
[3] J. L. Forbis and N. T. Mehta, “Eco-nomic value to the customer,” The McKinsey Quarterly, vol. 3, pp. 49-52, 1979.
[4] J. L. Forbis and N. T. Mehta, “Value-based strategy for industrial products,” The McKinsey Quarterly, summer, pp. 35-52, 1981.
[5] J. Y. Lee, M. Yoo, K. Cha and T. Hur, “Life cycle cost analysis to examine the economical feasibility of hydrogen as an alternative fuel,” International Journal of Hydrogen Energy, vol. 34, pp.4243-4255, 2009.
[6] M. Granovskii, I. Dincer and M. A. Rosen, “Econom-ic and environmental comparison of conventional, hybrid, electric and hydrogen fuel cell vehicles,” Journal of Power Sources, vol. 159, pp.1186-1193, 2006.
[7] M. J. Allen and W. M. Yen, In-troduction to measurement theory, Long Grove, IL: Waveland Press, 2002.
[8] M. W. Melaina and G. Saur, “Cost Comparison of Wind Energy Delivered as Electricity or Hydrogen for Vehicles,” Fuel 2013, pp.09-11, 2013.
[9] U. Cano-Castillo, “Hydrogen and Fuel Cells: Potential Elements in the Energy Transition Scenario,” REVISTA MEXICANA DE FISICA, vol. 59, pp.85-92, 2013.
Cite This Article
  • APA Style

    Jungin Kim, Yeonhee Lee. (2014). A Mathematical Model for Estimating the Life-Cycle Costs of Hydrogen-Powered Vehicles. Science Journal of Energy Engineering, 2(2), 13-17. https://doi.org/10.11648/j.sjee.20140202.12

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    ACS Style

    Jungin Kim; Yeonhee Lee. A Mathematical Model for Estimating the Life-Cycle Costs of Hydrogen-Powered Vehicles. Sci. J. Energy Eng. 2014, 2(2), 13-17. doi: 10.11648/j.sjee.20140202.12

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    AMA Style

    Jungin Kim, Yeonhee Lee. A Mathematical Model for Estimating the Life-Cycle Costs of Hydrogen-Powered Vehicles. Sci J Energy Eng. 2014;2(2):13-17. doi: 10.11648/j.sjee.20140202.12

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  • @article{10.11648/j.sjee.20140202.12,
      author = {Jungin Kim and Yeonhee Lee},
      title = {A Mathematical Model for Estimating the Life-Cycle Costs of Hydrogen-Powered Vehicles},
      journal = {Science Journal of Energy Engineering},
      volume = {2},
      number = {2},
      pages = {13-17},
      doi = {10.11648/j.sjee.20140202.12},
      url = {https://doi.org/10.11648/j.sjee.20140202.12},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjee.20140202.12},
      abstract = {This study provides a mathematical model that delivers fundamental data for developing a pricing strategy for fuel cell electric vehicles (FCEVs). A mathematical model that transforms the life-cycle cost of a hydrogen vehicle into the corresponding gasoline vehicle is designed using cost-benefit analysis and life-cycle analysis. The FCEV obtains economic advantages when its life-cycle cost is less than or equal to the life-cycle cost of the corresponding gasoline vehicle. Because there is a trade-off between the FCEV’s price and the hydrogen fuel price, the results provide a number of price combinations that can be used for decision-making purposes. Using this model, car makers can develop a number of FCEV pricing scenarios, and policy makers can establish support systems to encourage the market entrance of FCEVs such as a subsidy for purchasing and producing FCEVs and/or hydrogen energy. This study delivers a number of combinations of FCEV-hydrogen fuel pricing combinations, comparing the life-cycle costs of conventional gasoline vehicles and hydrogen fuel cell vehicles.},
     year = {2014}
    }
    

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  • TY  - JOUR
    T1  - A Mathematical Model for Estimating the Life-Cycle Costs of Hydrogen-Powered Vehicles
    AU  - Jungin Kim
    AU  - Yeonhee Lee
    Y1  - 2014/05/20
    PY  - 2014
    N1  - https://doi.org/10.11648/j.sjee.20140202.12
    DO  - 10.11648/j.sjee.20140202.12
    T2  - Science Journal of Energy Engineering
    JF  - Science Journal of Energy Engineering
    JO  - Science Journal of Energy Engineering
    SP  - 13
    EP  - 17
    PB  - Science Publishing Group
    SN  - 2376-8126
    UR  - https://doi.org/10.11648/j.sjee.20140202.12
    AB  - This study provides a mathematical model that delivers fundamental data for developing a pricing strategy for fuel cell electric vehicles (FCEVs). A mathematical model that transforms the life-cycle cost of a hydrogen vehicle into the corresponding gasoline vehicle is designed using cost-benefit analysis and life-cycle analysis. The FCEV obtains economic advantages when its life-cycle cost is less than or equal to the life-cycle cost of the corresponding gasoline vehicle. Because there is a trade-off between the FCEV’s price and the hydrogen fuel price, the results provide a number of price combinations that can be used for decision-making purposes. Using this model, car makers can develop a number of FCEV pricing scenarios, and policy makers can establish support systems to encourage the market entrance of FCEVs such as a subsidy for purchasing and producing FCEVs and/or hydrogen energy. This study delivers a number of combinations of FCEV-hydrogen fuel pricing combinations, comparing the life-cycle costs of conventional gasoline vehicles and hydrogen fuel cell vehicles.
    VL  - 2
    IS  - 2
    ER  - 

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Author Information
  • Graduate School of Technology and Innovation Management, POSTECH, Pohang, South Korea

  • Gyeongi Institute of Science & Technology Promotion, Suwon, South Korea

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