Hydrogen Economy and Its Production Impact on Automobile Industry Forecasting in Ecuador Using Principal Component Analysis

Hydrogen vehicles are operating in many parts of the world. However, in South America these cars are not on the streets. Even there are merchant hydrogen plants in the continent, hydrogen stations are not available yet. Doing a PCA analysis with H2 Vehicle Simulator Framework, Principal component 1 is related with amount of storage of hydrogen. Second principal component is related with autonomy and the last principal component with raw distance. Nowadays hydrogen price is around 12 USD per kilo in Europe and it is expensive for South America. The goal is to achieve a price of 2.15 USD in future with different renewable energies like: nuclear energy, hydro electrical, biomass and photo voltaic. Other goal is to reduce the vehicle price because the cost of a hydrogen car is 2.62 more expensive on average than a combustion car in Ecuador. One alternative to incentive the introduction of hydrogen vehicles is with hydrogen taxis vehicles like Paris is doing. Photo voltaic energy available in Tungurahua province is enough to produce hydrogen for all the taxis of Ambato city. © 2021, Springer Nature Switzerland AG.