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Industry & Member News

NREL Report Builds a Case for CNG in Fleet Applications

NREL Report Builds a Case for CNG in Fleet Applications

The National Renewable Energy Laboratory (NREL) (Golden, CO) released Building a Business Case for Compressed Natural Gas (CNG) in Fleet Applications — a report to help readers assess the various aspects of a new CNG vehicle and fueling infrastructure project to determine viability.
The publication details an enhanced version of a previous online modeling tool developed by NREL — the Vehicle Infrastructure and Cash-Flow Evaluation (VICE) model — that helps businesses and fleets evaluate the financial soundness of CNG vehicle and CNG fueling infrastructure projects. The tool, VICE 2.0, can now help assess projects to acquire vehicles and infrastructure, or to acquire vehicles only.
VICE 2.0 offers users robust visual and reporting enhancements, including graphic images of return on investment, cumulative cash flow, and payback periods. It also calculates petroleum displacement (annual and cumulative) and annual greenhouse gas reductions, and displays them based on the fleet's specific attributes. The publication features an overview of VICE 2.0 and the default values for such factors as investment type, tax exemption status for fuel, and operations and incentives for base-case vehicles. In addition, the report addresses profitability and its sensitivity to parameters such as fuel cost and vehicle miles traveled.
The report and model are especially beneficial to fleets that are well-suited to using CNG, such as those with routes that start and end in the same location and are therefore able to refuel at a central location.

For more information, visit www.nrel.gov.

GTA Member Directory listing for NREL

Posted on Tuesday, April 14, 2015