New Tool Helps Fleet Managers Evaluate Hybrid Vehicles
August 24, 2005
A new software tool that compares the costs and emissions of hybrid electric vehicles to conventional vehicles is now available for government and business fleet managers. The tool takes into account purchase price, fuel costs, repair and maintenance costs, resale value, and applicable tax incentives. For example, the tool indicates that at the current fuel prices of $2.50 per gallon or more, hybrid vehicles can offer significant financial savings to fleets. A high percentage of city driving and large number of miles driven per year can further increase the cost-effectiveness of hybrid vehicles. Called the Hybrid Electric Vehicle (HEV) Cost Calculator Tool, the tool was developed by the DOE's National Renewable Energy Laboratory (NREL), the Center for a New American Dream, and the American Council for an Energy Efficient Economy. See the NREL press release.
The HEV Cost Calculator Tool is available on DOE's Clean Cities Web site, which also features a great deal of information about hybrid and alternative fuel vehicles; alternative fuels and fuel blends; fuel economy; and technologies to reduce the time that vehicles are left idling. See the HEV Cost Calculator Tool.