Simulation of the market penetration of hydrogen fuel cell vehicles in Korea

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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 (c) 2007 John Wiley & Sons, Ltd.
Publisher
JOHN WILEY SONS LTD
Issue Date
2008-03
Language
ENG
Article Type
Article
Keywords

ECONOMY; ENERGY

Citation

INTERNATIONAL JOURNAL OF ENERGY RESEARCH, v.32, no.4, pp.318 - 327

ISSN
0363-907X
DOI
10.1002/er.1358
URI
http://hdl.handle.net/10203/8840
Appears in Collection
NE-Journal Papers(저널논문)
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