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Propane forklifts are readily available from dealers and equipment manufacturers throughout the country. Prices will vary with the age, condition, features, and brand of the equipment. The initial total investment required of a propane forklift is lower than comparable electric or diesel-powered forklifts, and they are cheaper to operate and maintain.
Comparative Forklift Costs
| Fuel |
Typical Capital Cost |
Refueling Equipment Cost |
| Propane |
$16,000 - $22,000
|
Propane suppliers maintain on-site storage tank or have cylinder exchange program or on-site fueling
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| Diesel |
$26,000 & up
|
$15,000
|
| CNG |
Similar to propane
|
Fast fill: $40,000
Slow fill: $10,000
|
| Electricity |
$22,000 - $35,000
|
$3-$8,000 for battery charger and cranes. Cost of additional floor space not included.
|
| Gasoline |
Similar to propane
|
$15,000
|
Source: Washington Liftruck
Capital Costs
Nationwide, a variety of convenient financing options are available for purchasing or leasing propane forklifts. Several factors should be considered in conjunction with the cost:
- Type and length of warranty
- Maintenance programs
- Size and accessibility of service department
- Size of the parts inventory
- Availability of training for forklift operators
- Availability of OSHA compliance training
Forklifts can be either purchased or leased. Purchasing a forklift can involve certain advantages and disadvantages over leasing the equipment:
Advantages
- The total cost of a propane forklift may be considerably lower over the life of the equipment if it is purchased rather than leased.
- Purchasing gives the owner flexibility in maintaining the forklift and controlling maintenance costs and equipment safety.
Disadvantages
- Purchasing requires upfront capital expenditures that could tie up working capital.
- Depreciation schedules may be long.
- Flexibility to upgrade to more modern equipment could be hampered.
On the other hand, propane forklifts can be rented or leased from dealers under a variety of leasing programs. These programs can be customized to meet individual buyers' needs and circumstances. Typical leasing arrangements may include the following features:
- With or without maintenance
- Factory-subsidized interest rates
- Buy-back/lease-back provisions
- Automatic equipment upgrade
Operation and Maintenance Costs
Propane forklifts have low operating (fuel and maintenance) costs compared with other forklifts for the following reasons:
Fuel costs
- Propane forklifts are very fuel-efficient. One 33-lb tank can provide an average of 8 hours of operating time.
- On a comparable BTU basis, propane typically costs considerably less than electricity.
- Propane has an indefinite storage life because the fuel is not degraded by the length of storage time.
Maintenance costs
- Propane forklifts have less engine deposit build-up than those powered by gasoline and diesel.
- Cleaner oil and engine parts mean fewer tune-ups, oil and spark plug changes, and lower maintenance costs.
- Little labor and time is required for refueling, resulting in lower costs over time.
Whether purchasing or leasing, annual maintenance costs will vary with the choice of servicing and maintenance plans available. Typical options are as follows:
- Per-call servicing: Forklift owner is responsible for maintenance timetable. Charges are on a per-call basis.
- Planned maintenance servicing: Maintenance is performed according to specified schedule. Typically, billing is at a per-machine flat rate.
- Full maintenance servicing: A guaranteed fixed maintenance cost that covers all the customer's forklift trucks.
Conversion Costs
Owners of gasoline-fueled forklifts can easily enjoy the benefits of propane by converting their existing equipment. Local propane dealers and forklift manufacturers can offer advice on whether units can be safely converted. Conversion costs (parts and labor) are generally less than $1,000.
Propane conversion kits are the most common and least expensive method of converting gasoline-fueled forklifts to propane operation. The original gasoline carburetor is replaced with a propane carburetor, regulator, and lock-off device. The result is a clean-burning propane forklift that retains the full power of the original machine, but with lower operating costs and reduced emissions.
Incentives
Many states and other organizations provide incentives to encourage the use of alternate fuels in vehicles. Check with your state energy department or environmental protection agency to determine if incentives are available for forklifts in your area.
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