Public and private fleet operators can save money by switching to natural gas vehicles and employing the business model that energy service companies (ESCOs) apply to energy efficiency projects, according to a report published by the Center for Climate and Energy Solutions (C2ES).
The report’s findings are part of a two-year initiative to develop innovative finance options to help accelerate the deployment of alternative fuel vehicles and fueling infrastructure.
The report includes the following key findings:
- Incorporating natural gas vehicles into fleets can significantly reduce petroleum use and harmful emissions, especially with tractor-trailer fleets.
- The major factors affecting the financial performance of natural gas vehicle fleets are the fleet’s vehicle technology and vehicle usage patterns.
- Natural gas vehicle projects for tractor-trailer fleets result in net cost savings under nearly every fleet size and travel scenario considered in the guide’s analysis.
- Using natural gas to fuel school bus fleets results in net cost savings for fleets whose vehicles travel about 20,000 miles per year.
- An energy service provider can help with the transition to natural gas by familiarizing fleet managers with new technology, identifying a project’s greatest savings potential, reducing financial risk and helping maximize financial payoff.