PHEVs, according to CalCars, combine the strengths of both types, the long distance capability of gas and the cost-efficiency of a green, electric motor. By charging the vehicle overnight in the garage most daily commute is sufficiently covered by the battery which translates to about $0.75/gallon of gasoline. By comparison, regular hybrids today achieve 45 mpg at about $1.20/gallon.

Besides the daily costs of owning a PHEV many consumers are still weary of the hefty price tag on PHEVs versus an old-school automobile. While most PHEVs admittedly cost thousands more than even the hybrids on the market today, the cost to own a car is an entirely different matter. By essentially cutting the cost of fuel for a PHEV by 2/3 the money saved will reach well into the thousands.

If an average car owner drives 12,000 miles a year and gets roughly 25mpg and spends about $3/gallon for gas, then $1440 is spent on gas alone per year. If we use the high estimate of the cost for electricity to power the car, the savings will be roughly $1000/year. After five years, an PHEV would effectively negate the added cost. For simplicity sake the cost for battery replacement should at least be offset by lower maintenance since PHEVs have significantly less moving parts. Although it should be noted that battery technology is a rapidly growing industry which would lower its costs immensely in the coming years.

Finances aside, the environmental implications are obviously far-reaching which CalCars stresses the most. In a extensive study by the Electric Power Research Institute and the Natural Resources Defense Council (EPRI-NRDC) conducted in July 2007, the organization confirms that PHEVs will be cleaner as they get older because the grid it utilizes is itself becoming cleaner.

The EPRI-NRDC also emphasizes that this shift away from our dependency on oil can happen right now since we have the technology to build it and the infrastructure to support it. Although the future will undoubtedly bring greener, more affordable technology PHEVs are going largely unnoticed despite their potential impact on the environment. By investing in PHEVs today we would be investing in the future of our planet because we should be giving back to that which has already given us so much.