Economic valuation of green hydrogen charging compared to gray hydrogen charging: The case of South Korea |
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| Affiliation: | 1. Department of Applied Bigdata Systems Engineering, Kyung Hee University, 1732 Deogyeong-daero, Giheung-gu, Yongin, Gyeonggi 17104, South Korea;2. Department of Industrial Engineering, Seoul National University, 1 Gwanak-ro, Gwanak-gu, Seoul 08826, South Korea;3. Graduate School of Energy and Environment (KU-KIST Green School), Korea University, Seoul, 02841 South Korea;4. Department of Applied Mathematics and the Institute of Natural Sciences, Kyung Hee University, 1732 Deogyeong-daero, Giheung-gu, Yongin, Gyeonggi 446-701, South Korea;5. Department of Industrial and Management Systems Engineering, Department of Applied Bigdata Systems Engineering, Kyung Hee University, 1732 Deogyeong-daero, Giheung-gu, Yongin, Gyeonggi 17104, South Korea |
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| Abstract: | The South Korean government promotes hydrogen-powered vehicles to reduce greenhouse gas (GHG) emissions but these vehicles use gray hydrogen while charging, which causes GHG emissions. Therefore, converting this fuel into green hydrogen is necessary to help reduce GHG emissions, which will incur investment costs of approximately USD 20 billion over a decade. In this study, a contingent valuation method is applied in an analysis to examine the extent to which consumers are willing to pay for green hydrogen charging compared to gray hydrogen charging. The results indicate that the monthly mean of willingness to pay per driver is 51,674 KRW (USD 45.85), equivalent to 4302 KRW per kg (USD 3.82). Additionally, consumers accept a 28.5% increase in the monthly average fuel expenses when converting to green hydrogen. These findings can be used in the development of pricing and energy use plans to finance the expansion of green hydrogen infrastructure. |
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| Keywords: | Contingent valuation Dichotomous choice Willingness to pay Green hydrogen Renewable energy BAU" },{" #name" :" keyword" ," $" :{" id" :" kwrd0040" }," $$" :[{" #name" :" text" ," _" :" Business as usual CE" },{" #name" :" keyword" ," $" :{" id" :" kwrd0050" }," $$" :[{" #name" :" text" ," _" :" choice experiment CVM" },{" #name" :" keyword" ," $" :{" id" :" kwrd0060" }," $$" :[{" #name" :" text" ," _" :" contingent valuation method DBDC" },{" #name" :" keyword" ," $" :{" id" :" kwrd0070" }," $$" :[{" #name" :" text" ," _" :" double-bounded dichotomous choice GHG" },{" #name" :" keyword" ," $" :{" id" :" kwrd0080" }," $$" :[{" #name" :" text" ," _" :" greenhouse gas HFCV" },{" #name" :" keyword" ," $" :{" id" :" kwrd0090" }," $$" :[{" #name" :" text" ," _" :" hydrogen fuel cell vehicles JPY" },{" #name" :" keyword" ," $" :{" id" :" kwrd0100" }," $$" :[{" #name" :" text" ," _" :" Japanese Yen KRW" },{" #name" :" keyword" ," $" :{" id" :" kwrd0110" }," $$" :[{" #name" :" text" ," _" :" Korean Won OOHBDC" },{" #name" :" keyword" ," $" :{" id" :" kwrd0120" }," $$" :[{" #name" :" text" ," _" :" one-and-one-half-bounded dichotomous choice SBDC" },{" #name" :" keyword" ," $" :{" id" :" kwrd0130" }," $$" :[{" #name" :" text" ," _" :" single bounded dichotomous choice USD" },{" #name" :" keyword" ," $" :{" id" :" kwrd0140" }," $$" :[{" #name" :" text" ," _" :" United States Dollar WTP" },{" #name" :" keyword" ," $" :{" id" :" kwrd0150" }," $$" :[{" #name" :" text" ," _" :" willingness to pay SCC" },{" #name" :" keyword" ," $" :{" id" :" kwrd0160" }," $$" :[{" #name" :" text" ," _" :" social cost of carbon |
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