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This paper reviews life cycle analyses of alternative energy technologies in terms of both their private and societal costs (that is, inclusive of externalities and net of taxes and subsidies). The economic viability of renewable energy technologies is shown to be heavily dependent upon the removal of market distortions. In other words, the removal of subsidies to fossil fuel-based technologies and the appropriate pricing of these fuels to reflect the environmental damage (local, regional, and global) created by their combustion are essential policy strategies for stimulating the development of renewable energy technologies in the stationary power sector. Policy options designed to “internalize “these externalities are briefly addressed.

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This paper presents the results of a cost-effectiveness analysis comparing diesel, compressed natural gas and hydrogen fuel cell buses in the Perth bus fleet based on a well-to-wheels cost analysis of each technology. Despite its significant environmental benefits in operation, the high initial cost of the prototype hydrogen fuel cell bus means that it cannot compete financially with the fossil fuel technologies. Therefore, the study was undertaken assuming that the buses, including fuel cells, are produced under conditions of economies of scale and that a fully developed fuel infrastructure for the provision of hydrogen exists.