An Economic Feasibility Analysis of a Hydrogen Fuel-Cell Vehicle Considering GHG

GHG를 고려한 수소연료전지 자동차의 경제성 분석

This paper deals with the economic feasibility model and analysis of a hydrogen fuel-cell vehicle [FCV] against two similar types of non-business vehicles fueled with gasoline [GV] and diesel [DV] considering greenhouse gas [GHG]. Considering the price of vehicles and annual operating cost, we build a classical economic feasibility model. Since the economic feasibility could be affected by many input factors such as the prices of vehicles, the price of fuels, annual driving distance and so on, we estimate the average future values of input factors, which is defined as "the average case". Based on the average case, we assess the representative economic feasibility of a FCV with/without GHG, and by changing various annual driving distances, we assess its economy in terms of net-present value, internal rate of return, and payback period. In addition, we make some sensitivity analysis of its economic feasibility by changing the values of the critical input factors one at time. Based on the average case, it turns out that the consumer of a FCV could save 25,000 won/year for a GV, but the consumer could pay 120,000 won/year more for a DV. This indicates that gasoline vehicles could be replaced gradually by FCVs in Korean market which might be formed by those consumers driving annually more than approximately 14,800 km. As the results of our sensitivity analysis, it turns out that a FCV is no more economical if the difference of the prices between FCV and GV is more than 10,130,000 won or the price of hydrogen fuel could be more than 5,136 won/kg.