Comparative cost analysis of FCVs, BEVs, and ICVs: A consumer perspective in Japan

Qiong Zhang and Tomohiko Ihara

Applied Energy, 2025, vol. 382, issue C, No S0306261924026151

Abstract: This study significantly enhances the Total Cost of Ownership (TCO) model by effectively integrating individual mobility data, providing a more precise and realistic assessment. By quantifying non-intuitive costs, such as travel disutility, the research adds a critical dimension often overlooked in traditional models. The analysis was extended to a 14-year period, and driving simulations were employed to capture diverse consumer driving behaviors, leading to a high standard deviation that reflects significant variability. Additionally, future scenario analyses were conducted to predict policy outcomes and validate current government strategies. The findings indicate that travel disutility costs constitute 4.6 % of the TCO for fuel cell vehicles (FCVs) and 7.8 % for battery electric vehicles (BEVs). Based on these insights, the study recommends increasing FCV subsidies by 1,873,676 JPY and reducing hydrogen prices by 44 %. It also emphasizes the need for infrastructure development and targeted consumer engagement to optimize policy impact. These contributions offer practical, data-driven guidance for improving current policies and shaping future decisions.

Keywords: Total cost of ownership (TCO); Individual mobility data; Consumer diversity; Fuel cell vehicles (FCVs) (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1016/j.apenergy.2024.125231

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