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New Cost Tool Helps Fleet Managers Evaluate Hybrid Vehicles
Golden, Colo., Aug. 3, 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 U.S. 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 at www.eere.energy.gov/cleancities/hev/cost_calc.html
or www.newdream.org/hev/.
"Fleets have a large influence on how much oil our
nation uses and HEVs are an important option for fleets to
consider," said Stan Bull, NREL's Director of Science and
Technology.
The use of hybrid vehicles in the United States 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. Federal and state tax incentives can help offset the
financial impact for taxable entities, and higher resale values,
strong warranties and lower fuel costs can reduce cost of
ownership. HEVs also are easier on the environment because they
produce fewer emissions and get better fuel economy than
conventional vehicles.
"The cost calculator tool confirms that in most cases
the higher purchase price of a hybrid is offset by fuel savings
and better resale values, yet the greatest advantage of such
vehicles remains the lessening of global warming gases and a
reduction of our nation's addiction to oil," said Betsy
Taylor, president, Center for a New American Dream.
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. For example, the tool
indicates that at the current average fuel price of $2.20 per
gallon, hybrids are often the most cost-effective vehicle
choice. If fuel prices rise to $2.50 to $3.00 gallon advanced
hybrid vehicles will become even more financially beneficial.
Other factors, such as the percentage of city driving and the
total number of miles driven per year can also increase the
cost-effectiveness of hybrid vehicles.
Cities and counties across the country are grappling with
the challenges of poor air quality and growing emissions of
global warming gases. The cost calculator tool will enable fleet
owners to adopt technologies that help mitigate emissions of
carbon dioxide, carbon monoxide, nitrogen oxides, particulate
matter, and hydrocarbons. A comparison of a compact hybrid sport
utility vehicle to a conventional compact sport utility vehicle
shows a savings of more than $1,400 and 37,000 pounds of carbon
dioxide over seven years.
NREL also provides a cost comparison tool for fleets
considering alternative fuel vehicles through the Alternative
Fuels Data Center.
DOE's Clean Cities activity encourages the implementation of
alternative fuels and advanced vehicle technologies that can
help reduce our nation's dependence on imported petroleum. The
program works through nearly 90 public/private coalitions to
promote alternative fuels and vehicles, fuel blends, fuel
economy, hybrid vehicles, and idle reduction. For more
information go to: www.eere.energy.gov/cleancities.
NREL is the U.S. Department of Energy's premier laboratory
for renewable energy research and development and a leading
laboratory for energy efficiency R&D. NREL is operated for
DOE by Midwest Research Institute and Battelle.
The Center for a New American Dream works with individuals,
institutions, communities, and businesses to conserve natural
resources, counter the commercialization of our culture, and
change the way goods are produced and consumed. To learn more go
to: www.newdream.org.
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