Cost and Benefit Risk Framework for Modern Railway Electrification Options
The Federal Railroad Administration contracted a research team from The University of Texas at Austin in 2023 to develop a framework for evaluating the updated costs and benefits of freight railway electrification considering traditional and modern innovative methods. The team reviewed past and current electrification studies and identified technologies and strategic operation and implementation approaches to improve benefits and reduce cost and risk. The “Cost, Uncertainty, and Risk of Railway Electrification with New Technologies” (CURRENT) model was developed as a risk-based economic analysis framework to aid railroads in evaluating electrification investments, and inform further supplier research and development.