Switching from diesel forklifts to electric forklifts provides not only significant cost savings but also environmental benefits. In Singapore, where carbon taxes are becoming a focal point for businesses, the economic and ecological advantages of electric forklifts become even more compelling. This guide provides an in-depth cost comparison and highlights the additional savings, including reduced carbon tax liabilities, that come with transitioning to electric forklifts.
Energy Costs Comparison
Diesel Forklift (3 Ton)
Fuel Consumption: 3.2 litres per hour
Diesel Cost: $1.85 per litre
Hourly Operating Cost:
3.2 litres/hour×1.85 $/litre=5.92 $/hour
Electric Forklift (EP 3 Ton)
Energy Consumption: 7.3 kWh per hour
Electricity Cost: $0.30 per kWh
Hourly Operating Cost:
7.3 kWh/hour×0.30 $/kWh=2.19 $/hour
Savings in Energy Costs per Hour:5.92 $/hour (Diesel)−2.19 $/hour (Electric)=3.73 $/hour
Annual Operating Costs
Assume each forklift operates 8 hours a day, 300 days a year:
Diesel Forklift
Annual Fuel Cost:
5.92 $/hour×8 hours/day×300 days/year=14,208 $/year
Electric Forklift
Annual Electricity Cost:
2.19 $/hour×8 hours/day×300 days/year=5,256 $/year
Annual Energy Cost Savings:14,208 $/year (Diesel)−5,256 $/year (Electric)=8,952 $/year
Carbon Tax Savings
Under Singapore’s carbon tax framework, businesses pay $25 per tonne of carbon dioxide (CO₂) emissions (as of 2024). Diesel forklifts emit approximately 2.68 kg of CO₂ per litre of diesel burned.
Carbon Emissions for Diesel Forklift
Emissions per Hour:3.2 litres/hour×2.68 kg CO₂/litre=8.58 kg CO₂/hour
Annual Emissions:8.58 kg CO₂/hour×8 hours/day×300 days/year=20,592 kg CO₂/year
Carbon Tax:20.592 tonnes/year×25 $/tonne=514.80 $/year
Electric Forklifts produce zero direct emissions, resulting in:
Carbon Tax Savings: $514.80 per year per forklift.
Maintenance Costs
Diesel Forklift
Servicing Costs: $200 per service
Servicing Frequency: Quarterly
Annual Maintenance Cost:
200 $/service×4 services/year=800 $/year
Electric Forklift
Servicing Costs: Negligible
Maintenance Cost Savings:800 $/year (Diesel)−0 $/year (Electric)=800 $/yearr
Total Annual Cost Savings
Combining energy, maintenance, and carbon tax savings:8,952 $/year (Energy)+800 $/year (Maintenance)+514.80 $/year (Carbon Tax)=10,266.80 $/year
10-Year Savings
Over a 10-year lifespan, the potential savings are staggering:10,266.80 $/year×10 years=102,668.00 $
Environmental and Operational Benefits
Zero Emissions: Electric forklifts produce no direct emissions, contributing to cleaner air and a healthier work environment.
Energy Efficiency: Electric forklifts convert more energy into productive work, reducing waste.
Reduced Noise Pollution: Electric models operate much quieter than diesel counterparts, improving the workplace experience.
Conclusion
Switching to electric forklifts offers substantial cost savings, reduced environmental impact, and alignment with Singapore’s sustainability goals. With savings exceeding $10,000 per forklift per year, businesses can achieve significant financial and operational advantages.
Investing in electric forklifts is not just a move towards a greener future; it’s a smarter, more cost-effective choice for long-term success.
Contact us today to learn how electric forklifts can transform your operations!
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