Financial Analysis of Battery Electric Transit Buses

Abstract

Program for funding this project and providing connections with numerous transit agencies that led to key data and insight. We would like to thank the transit agencies that generously shared their electric load data, operational data, and technological insight. This project would not have been possible without data from the Transportation Cooperative Research Committee's 130 report and the shared vision from Meredith Linscott and Erik Bigelow. Likewise, we would like to thank our colleague at the National Renewable Energy Laboratory (NREL), Josh Eichman, who's field work with electric bus fleets proved invaluable. Other NREL colleagues, Daniel Zimny-Schmitt, Joyce McLaren, and Emma Elgqvist, helped us navigate the Utility Rate Database and better address the complex relationship between electric utility and bus fleet. Lisa Jerram of the American Public Transit Association and Andy Eiden of Portland General Electric shared perspectives that greatly benefited this study. Despite the large amount of help that we have received when writing this report, any potential errors are the fault of the authors.

Comprehensive Total Cost of Ownership Quantification for Vehicles with Different Size Classes and Powertrains

“…Lifetimes of battery packs in medium-and heavyduty PEVs are less well-established. Currently, electric transit buses may have a battery replacement at mid-life, though recent warranty plans, cycle-life analysis, and preliminary field reports suggest that for many original equipment manufacturers (OEMs) the battery will last the 12-year life of the buses (Johnson et al 2020). Therefore, we assume battery packs in MHDVs will last as long as the vehicles.…”

Electrifying Transit: A Guidebook for Implementing Battery Electric Buses

“…Though costs have been decreasing, BEBs still have high purchase prices (up to $650,000, including battery) compared to diesel buses (up to $400,000) (Quarles, Kockelman, and Mohamed 2020); however, the lower operations and maintenance costs for BEBs (about $700,000 vs. $1.1 million annually) often lead to net savings over the BEB's lifetime (Johnson et al 2020). There are also many funding and…”

“…This guidebook assumes that prior decisions have been made to deploy BEBs and does not focus on comparisons between BEBs and other forms of transportation. For such comparisons, see Johnson et al 2020. BEBs, depending on location and situation, may not be the best option for a transit agency.…”

“…Lower maintenance costs: Electric-drive buses contain fewer moving parts than buses with traditional internal combustion engines. Average maintenance costs for a diesel bus total $0.88/mile, whereas maintenance costs for BEBs average to $0.64/mile (Johnson et al 2020).…”

“…BEBs may be charged at a depot or on the bus routes. For installation, prices can range from $2,000 to $64,000 for depot charging and $50,000 to $400,000 for on-route charging (Johnson et. al 2020).…”