Ownership Cost Comparison of Battery Electric and Non-Plugin Hybrid Vehicles: A Consumer Perspective
Date
2018-08
Authors
Fulton, Lawrence V.
Journal Title
Journal ISSN
Volume Title
Publisher
Multidisciplinary Digital Publishing Institute
Abstract
This study evaluates eight-year ownership costs for battery electric vehicles (BEV) versus non-plugin hybrid vehicles, using forecasting to estimate future electricity and conventional gasoline prices and incorporating these in a multiple design of experiments simulation. Results suggest that while electric vehicles are statistically dominant in terms of variable costs over an 8-year life-span, high-performance hybrid non-plugins achieve variable fuel costs nearly as good as low-performing electric vehicles (those attaining only 3 miles per kilowatt hour) and that these hybrid acquisition costs are (on average) lower, yet the vehicles retain higher residual values. In general, the six smallest ownership costs are split evenly between hybrid and electric vehicles; however, inflation for conventional regular gasoline is estimated to outstrip inflation per kilowatt hour. Thus, non-plugin hybrid cars are likely to require considerably more advanced engineering to keep pace.
Description
Keywords
BEV, ownership cost analysis, design of experiments, forecasting, Monte Carlo simulation, Health Administration
Citation
Fulton, L. (2018). Ownership cost comparison of battery electric and non-plugin hybrid vehicles: A consumer perspective. Applied Sciences, 8(9): 1487.
Rights
Rights Holder
© 2018 The Author.
Rights License
This work is licensed under a Creative Commons Attribution 4.0 International License.