z-logo
Premium
Simulation of the market penetration of hydrogen fuel cell vehicles in Korea
Author(s) -
Jun Eunju,
Jeong Yong Hoon,
Chang Soon Heung
Publication year - 2008
Publication title -
international journal of energy research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.808
H-Index - 95
eISSN - 1099-114X
pISSN - 0363-907X
DOI - 10.1002/er.1358
Subject(s) - hydrogen vehicle , market penetration , fuel cells , hydrogen fuel , hydrogen , miles per gallon gasoline equivalent , subsidy , gasoline , capital cost , automotive engineering , market share , order (exchange) , business , green vehicle , computer science , fuel efficiency , engineering , economics , waste management , finance , chemistry , market economy , electrical engineering , chemical engineering , marketing , organic chemistry
As fuel cell technologies are developed, hydrogen‐powered vehicles are receiving more interest. The hydrogen economy, particularly hydrogen‐powered vehicle penetration into the Korean transportation market, is studied in this paper. Vensim, a system dynamic code, was used to simulate the dynamics in the transportation market, assuming various types of vehicles such as gasoline, hybrid electricity, and hydrogen powered. Market share for each vehicle was predicted using the currently available data. The results showed that the hydrogen era will not be as bright as predicted by many people. The main barrier is the fuel cell cost. Thus, in order to expand the fuel cell vehicles (FCVs) market, hydrogen fuel cell cost needs to be dramatically reduced. Hydrogen‐powered FCV cost, including operating and capital costs, should reach $0.16 per kilometer in order to seize 50% of the newly created transportation market. However, if strong policies or subsidies are implemented, the results predicted here will be affected. Copyright © 2007 John Wiley & Sons, Ltd.

This content is not available in your region!

Continue researching here.

Having issues? You can contact us here