What is total cost of ownership (TCO)?

Total Cost of Ownership (TCO) is the prevailing methodology to assess the economic benefits of different decarbonisation pathways of heady-duty vehicles. The TCO approach allows the assessment of all the costs associated with the vehicle throughout its entire lifetime, facilitating direct comparisons between different powertrain options.

What costs are included in a TCO evaluation?

In Fig. 1 the cost components considered for the TCO evaluation are reported. These include vehicle purchase costs, fuel costs, insurance costs, maintenance and repair costs, taxes and fees, road tolls and other costs specifically related to HDVs.

What is the TCO approach?

The TCO approach allows the assessment of all the costs associated with the vehicle throughout its entire lifetime, facilitating direct comparisons between different powertrain options. Hunter et al. and Burnham et al. compared diesel-fuelled ICETs, FCETs, BETs, Compressed Natural Gas (CNG)-fuelled trucks and hybrid diesel-battery trucks.

What are the characteristics of electrochemistry energy storage?

Comprehensive characteristics of electrochemistry energy storages. As shown in Table 1, LIB offers advantages in terms of energy efficiency, energy density, and technological maturity, making them widely used as portable batteries.

What is a battery degradation model?

In this framework, a detailed battery degradation model is embedded, which models the depth-of-discharge, temperature, charging/discharging rate, and state-of-charge stress on the battery aging process. Total energy throughput and levelized cost of storage of BESS over the whole lifespan are evaluated under different operating conditions.

Are battery energy storage systems becoming more cost-effective?

The recent advances in battery technology and reductions in battery costs have brought battery energy storage systems (BESS) to the point of becoming increasingly cost-effective.