When comparing different energy solutions, it’s natural to focus on the purchase price. At first glance, internal combustion engine trucks (diesel or LPG) often seem like the more cost-effective option. Electric trucks, on the other hand, can appear more expensive due to the cost of the battery and charging infrastructure.
But when you look beyond the initial price tag, the total cost of ownership (TCO) tells a more complete story. From fuel and maintenance to downtime and energy efficiency, every factor plays a part in determining the true return on investment over time.
The purchase price is just one part of the equation. To understand the real cost of ownership, you also need to consider:
- Energy and fuel costs: Prices vary depending on energy type and usage. Diesel and LPG costs fluctuate with market rates, while electric trucks benefit from predictable electricity costs and opportunity charging options.
- Usage patterns: Internal combustion trucks typically idle for around 10–15% of their working hours – using fuel but not moving. Electric trucks, by contrast, consume minimal energy when stationary.
- Maintenance and servicing: ICE trucks often include maintenance as part of the overall package, but electric trucks may require additional battery and charger servicing. That said, Li-ion batteries are maintenance-free and can be charged during natural breaks, reducing downtime.
- Downtime and productivity: Tasks like refuelling or LPG bottle changes might only take 10–15 minutes, but over time, those minutes add up. Across a year, that can mean thousands of pounds lost per truck.
How we calculate ROI at Toyota Material Handling
At Toyota Material Handling, our sales experts use dedicated tools to analyse your operational data and forecast running costs for different truck types. This allows us to provide an objective view of how each energy option performs over time.
For example, the ROI forecast below compares a 2500kg counterbalance truck operating 1,500 hours per year across four energy types: LPG, diesel, lead-acid, and lithium-ion.
While LPG and diesel trucks have a lower purchase cost, their fuel and maintenance expenses increase more rapidly over time. Lead-acid and lithium-ion models start higher but can deliver savings after just a few years of operation, especially when maintenance and energy efficiency are factored in.
This kind of analysis helps identify which energy solution offers the best return - not just the lowest starting price.
The increase at year 5 for Lead Acid indicates the point where its cycle life ends and a battery replacement is likely required.
What about Hydrogen fuel cell?
Hydrogen fuel cell is another energy solution you can explore. It works by converting hydrogen into electricity through a chemical reaction between hydrogen and oxygen inside a compact fuel cell stack.
Hydrogen fuel cell trucks offer the sustainability benefits of electric trucks with the quick refuelling and performance of internal combustion engines. They produce zero emissions during operation, with only water vapour as a by-product, and can be refuelled in just a few minutes, supporting near-continuous operation.
Hydrogen does require the right onsite infrastructure and is generally a higher investment compared to other energy options. This means it is more suitable for certain types of operations, such as:
- High-utilisation, multi-shift applications
- Operations where minimising downtime is critical
- Businesses focused on reducing CO₂ emissions without compromising productivity
- Operations that want the benefits of electric performance without needing multiple batteries or battery rooms
Hydrogen may be less suited to:
- Single-shift or lower-intensity operations
- Sites without the ability to install hydrogen refuelling infrastructure
- Operations with limited budgets or where a lower upfront cost is essential
Choosing what’s right for your operation
There’s no single solution that fits every operation. Factors like application type, environment, and usage intensity all influence which energy source will deliver the best value. At Toyota Material Handling, our energy experts work with you to review all the variables, helping you make an informed decision that’s right for your operation.
Speak to our experts on energy solutions: Toyota Forklift Customer Service & Contact Details | Toyota Material Handling UK