Plug-in hybrids will take over 60 years to payoff?

RechargeIT.org, a Google company conducting research on electric cars and plug-in hybrids has made a startling revelation. According to RechargeIT.org, a plug-in hybrid cuts gas consumption by only about 88 gallons a year over a non plug-in hybrid such as a Prius in city driving. At $3 a gallon, the savings translate to about $250 a year. Considering that it costs $15,000 to convert a regular hybrid to a plug-in hybrid, the payoff will not be for more than 60 years. Even if gas prices go to $6, the payoff time is far longer than the average ownership of a car. These calculations are not even taking the cost of charging the car into account.

RechargeIT.org does admit that the carbon dioxide emitted by the plug-in hybrid is 50% less than the non plug-in hybrid. Therefore, there is still some environmental value to a plug-in hybrid. The cost of plug-in hybrids is expected to continue to decline as battery technology improves. There may come a time when it will make economic sense in addition to environmental sense