August 12, 2005—A new software tool that compares the costs and emissions of hybrid electric vehicles (HEVs) to conventional vehicles is now available for government and business fleet managers interested in reducing fuel costs and protecting air quality.
The tool, called the Hybrid Electric Vehicle Fleet Cost and Benefits Calculator Tool, was developed by the US Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL), the Center for a New American Dream, and the American Council for an Energy Efficient Economy (ACEEE) with funding from DOE’s Office of Energy Efficiency and Renewable Energy’s Clean Cities activity. It is available for free.
The use of hybrid vehicles in the US has grown rapidly in the last few years. New hybrid vehicle registrations reached nearly 84,000 in 2004, while sales of hybrids in the first five months of 2005 reached 73,000. Public and private fleets are contributing to this surge in popularity. More than 90 city, state and county governments, and some private fleets, use light duty hybrids according to data collected by the Center for a New American Dream.
While the retail price of HEVs can exceed that of their conventional counterparts by several thousand dollars, they can save money when the total cost of vehicle ownership is considered.
The Hybrid Electric Vehicle Fleet Cost and Benefits Calculator Tool, with fleet cost estimates developed in consultation with PHH Arval, helps fleet purchasers assess potential savings from purchasing HEVs by taking into account purchase price, fuel costs, repair and maintenance costs, resale value, and applicable tax incentives.
