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

Jungin Kim; Yeonhee Lee

doi:doi:10.11648/j.sjee.20140202.12

| Peer-Reviewed

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

Jungin Kim, Yeonhee Lee

Published in Science Journal of Energy Engineering (Volume 2, Issue 2)

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

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

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

Plain Text BibTeX RIS

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

Copy | Download

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

Copy | Download

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

Copy | Download

@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}
}

Copy | Download

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  -

Copy | Download

Author Information

Jungin Kim

Graduate School of Technology and Innovation Management, POSTECH, Pohang, South Korea
Yeonhee Lee

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

Download PDF

Sections

Plain Text BibTeX RIS

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

Copy | Download

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

Copy | Download

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

Copy | Download

@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}
}

Copy | Download

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  -

Copy | Download