Diesel vs Electric Forklift TCO Calculator
The Diesel vs Electric Forklift TCO Calculator is a fleet cost analysis tool that compares the total cost of ownership between diesel/LPG forklifts and lithium-ion electric forklifts. By analyzing fleet size, operating hours, fuel and electricity costs, maintenance expenses, equipment investment, and operating conditions, the calculator estimates TCO differences, annual savings, payback period, ROI, hourly operating costs, and potential CO₂ reductions. It helps warehouse managers, fleet operators, and procurement teams evaluate the financial impact of forklift electrification and make data-driven equipment investment decisions.
- Engine oil replacement
- Fuel & Air filters
- Transmission service
- No engine oil changes
- No battery watering
- Fewer moving parts
- Cycle Life: 3,500 Cycles (@80% DOD)
- Service Life: ~8 Years (based on workload)
- Opportunity Charging: Supported (1-2 Hours full charge)
- Zero Maintenance: 100% daily maintenance-free
How to Use the Diesel vs Electric Forklift TCO Calculator
The Diesel vs Electric Forklift TCO Calculator helps businesses estimate and compare the total cost of ownership (TCO) of diesel/LPG forklifts and lithium-ion electric forklifts.
Instead of comparing only the initial purchase price, the calculator considers key operating factors such as equipment cost, energy consumption, maintenance expenses, and operating conditions to estimate long-term costs, potential savings, ROI, payback period, and CO₂ reduction.
Note: Results are estimates based on the information provided. Actual costs may vary depending on forklift models, energy prices, operating conditions, and maintenance requirements.
Step 1: Define Your Forklift Operating Profile
Enter your fleet information, including:
- Number of forklifts
- Daily operating hours
- Working days per year
- Evaluation period
These inputs determine the total workload of your fleet and are used to calculate energy consumption and maintenance costs.
Total Operating Hours = Fleet Size × Hours per Day × Working Days per Year × Evaluation Years
Higher utilization typically increases the potential savings from switching to electric forklifts because energy and maintenance differences accumulate over time.
Step 2: Calculate Diesel Forklift Ownership Cost
The calculator estimates the total operating cost of diesel/LPG forklifts, including:
- Initial equipment investment
- Fuel costs
- Maintenance expenses
Fuel costs are calculated based on operating hours, fuel consumption rate, and fuel price:
Fuel Cost = Operating Hours × Fuel Consumption Rate × Fuel Price
Maintenance costs include regular servicing such as oil changes, filter replacement, engine maintenance, and mechanical repairs.
Step 3: Calculate Lithium Electric Forklift Ownership Cost
The calculator evaluates the cost of operating lithium-ion electric forklifts under the same conditions, including:
- Equipment purchase cost
- Electricity consumption
- Maintenance expenses
- Available incentives (if applicable)
Electricity costs are calculated as:
Electricity Cost = Operating Hours × Energy Consumption × Electricity Rate
Lithium electric forklifts typically require less maintenance due to fewer mechanical components, which can reduce long-term operating expenses.
Step 4: Compare TCO, Savings, and Payback Period
The calculator compares the estimated ownership costs of diesel and electric forklift fleets.
Key results include:
- Total cost difference
- Energy savings
- Maintenance savings
- Estimated payback period
Net Savings = Diesel Forklift TCO − Electric Forklift TCO
A positive result indicates potential cost savings from adopting lithium electric forklifts.
Step 5: View Cost, ROI, and CO₂ Reduction Results
The calculator provides key performance indicators to help evaluate the impact of fleet electrification:
Total Cost Savings
Shows the estimated financial difference between diesel and electric forklift ownership over the selected period.
Operating Cost per Hour
Hourly Cost = Total Ownership Cost ÷ Total Operating Hours
This allows a direct comparison of the operating cost under the same working conditions.
CO₂ Reduction Estimate
Estimates the potential carbon reduction by comparing avoided fuel consumption with electricity usage when replacing diesel forklifts with lithium electric models.
Your TCO estimate is just the first step. Talk to our battery specialists to get a detailed cost analysis and a lithium battery solution designed for your operation.
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