Economic Feasibility Assessment and Analysis of Dual Fuel Systems Utilizing Diesel and Compressed Natural Gas 


Vol. 24,  No. 3, pp. 166-174, Sep.  2018
10.7464/ksct.2018.24.3.166


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  Abstract

Since particulate matter has high impacts on human health and everyday life, the dual fuel systems utilizing diesel and compressed natural gas have been developed to improve the environmental performance of diesel vehicles. The objective of this study is to estimate the economic feasibility of the dual fuel system based on real operating data of dual fuel buses and diesel buses. The system is economically feasible if the annual mileage of the dual bus is higher than 30,000 km, or if the unit fuel price of diesel is higher than that of CNG by 408 won. The uncertainty analysis results show that the economic feasibility of the system is probabilistically high, regardless of the variability of input data such as mileage and unit prices for the fuels. The sensitivity analysis results show that diesel and CNG prices are the highest contributor to the net present value of the system. Based on these results, economic incentives are suggested to disseminate the systems. This study would provide valuable economic information for bus business industry and policy maker to help make decisions for applying and disseminating the dual fuel systems to mitigate particulate matter problems.

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  Cite this article

[IEEE Style]

C. AR and L. SR, "Economic Feasibility Assessment and Analysis of Dual Fuel Systems Utilizing Diesel and Compressed Natural Gas," Clean Technology, vol. 24, no. 3, pp. 166-174, 2018. DOI: 10.7464/ksct.2018.24.3.166.

[ACM Style]

Cho AR and Lim SR. 2018. Economic Feasibility Assessment and Analysis of Dual Fuel Systems Utilizing Diesel and Compressed Natural Gas. Clean Technology, 24, 3, (2018), 166-174. DOI: 10.7464/ksct.2018.24.3.166.

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pISSN : 1598 - 9712
eISSN : 2288 - 0690

한국연구재단 등재학술지