At RechargeIT.org, a Google.org project, they have built a few plug-in hybrid Prius's and now have several months data about real world fuel use. They have found an improved miles/gallon efficiency from 44.6, for a regular Prius, to 66.2 miles/gallon for their plugin Prius's. This results in 0.4115 CO2e lbs/mile for the plugin Prius, 0.530 CO2e lbs/mile for a regular Prius, compared to 1.192 0.530 CO2e lbs/mile as the U.S. fleet average. There are various impressive savings in the amount of fuel and in the pollution spewed into the atmosphere, but when they derive a cost savings it is pretty minor. The plug-in Prius saves $1168 per year versus $1010 savings per year for the regular Prius.
This allows the C|NET reporter to portray this in a negative light. He goes through the calculation of the period of time to pay off the extra investment to convert the Prius into a plug-in hybrid. Since the conversion costs $15,000 and the savings are shown to be only $158 per year it's clearly going to take a long time for cost savings to pay for the conversion. But I think that's missing the point.
As the Google spokesperson says:
"They (owners) are never going to pay off the price" of a retrofit, Proudfoot acknowledged. "But the big focus for RechargeIT is on the CO2 savings, not the cost savings."
In particular I think the cost of the environment and the true cost of oil is not properly valuated in dollars. If you look only at dollar cost and dollar benefit you will miss the real cost and real benefit.
The real cost is the poison in the environment and the potential for global warming to cause sea levels to rise. The real benefit is the continued enjoyment of this beautiful planet.
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