4.5 Article

The potential of alternative fuel vehicles: A cost-benefit analysis

Journal

RESEARCH IN TRANSPORTATION ECONOMICS
Volume 50, Issue -, Pages 39-50

Publisher

ELSEVIER SCI LTD
DOI: 10.1016/j.retrec.2015.06.005

Keywords

Fuel cell vehicle; Electric vehicle; Cost benefit analysis; Sensitivity analysis

Funding

  1. Ministry of Education, Culture, Sports, Science and Technology (MEXT), Japan [26000001B]
  2. Research Institute of Economy, Trade and Industry (RIETI), Japan
  3. Grants-in-Aid for Scientific Research [25740060] Funding Source: KAKEN

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This study investigates the economic validity of the diffusion of fuel cell vehicles (FCVs) and all-electric vehicles (EVs), employing a cost-benefit analysis from the social point of view. This research assumes the amount of NOx and tank-to-wheel CO2 emissions and gasoline use reduction as the benefits and the purchase costs, infrastructure expenses, and maintenance costs of alternative vehicles as the costs of switching internal combustion engine (ICE) vehicles to alternative energy vehicles. In addition, this study conducts a sensitivity analysis considering cost reductions in FCV and EV production and increasing costs for CO2 abatement as well as increasing gasoline prices. In summary, the results show that the diffusion of FCVs is not economically beneficial until 2110, even if the FCV purchase cost decreases to that of an ICE vehicle. EV diffusion might be beneficial by 2060 depending on increases in gasoline prices and CO2 abatement costs. (C) 2015 Elsevier Ltd. All rights reserved.

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