1. What is the PHEV Savings Calculation?

The PHEV (Plug-in Hybrid Electric Vehicle) savings calculation estimates your annual savings by comparing the operating costs of a PHEV versus a conventional vehicle, accounting for the additional upfront cost of the PHEV.

2. How Does the Calculator Work?

The calculator uses the PHEV savings equation:

Where:

• \( Gas\ Cost \) — Annual fuel cost for conventional vehicle
• \( Electricity\ Cost \) — Annual electricity cost for PHEV
• \( Extra\ Vehicle\ Cost \) — Additional purchase price of PHEV
• \( Years \) — Time period over which to amortize the extra cost

Explanation: The equation calculates net savings by comparing operating cost differences and spreading the additional vehicle cost over the ownership period.

3. Importance of PHEV Savings Calculation

Details: This calculation helps consumers understand the true cost-benefit of choosing a PHEV over a conventional vehicle, considering both upfront costs and ongoing operational savings.

4. Using the Calculator

Tips: Enter all costs in your local currency. For accurate results, use actual annual driving costs if available. Years should represent your expected ownership period.

5. Frequently Asked Questions (FAQ)

Q1: What costs should be included in Extra Vehicle Cost?
A: Include only the price difference between the PHEV and comparable conventional vehicle, plus any additional taxes or fees.

Q2: How do I estimate my annual gas and electricity costs?
A: Multiply your annual mileage by the vehicle's fuel economy (MPG or L/100km) and current fuel/electricity prices.

Q3: What's a typical ownership period (Years)?
A: Most owners keep vehicles 5-8 years, but use whatever period matches your expected ownership.

Q4: Does this account for maintenance cost differences?
A: No, this is a basic calculation. PHEVs often have lower maintenance costs which would increase savings.

Q5: Should I include government incentives?
A: Yes, subtract any tax credits or rebates from the Extra Vehicle Cost before entering it.