Electric vs Gasoline - Which is more cost effective? « True Cost - Analyzing our economy, government policy, and society through the lens of cost-benefit

Electric vs Gasoline - Which is more cost effective? « True Cost - Analyzing our economy, government policy, and society through the lens of cost-benefit: "At What Gasoline Price are Hybrid or Electric Vehicles Competitive?

For the Hymotion-modified Toyota Prius, the breakeven price of gas is around $3 a gallon. The Hymotion modification for the Toyota Prius costs $10,000, and the Prius itself costs roughly $5000 more than a similar non-hybrid vehicle. At $3 a gallon, a driver that drives 12,000 miles per year would save about $1500 per year, just recouping his initial investment over a 10 year timeframe.

Batteries represent the primary factor in the additional cost of hybrid vehicles, and battery price-performance is improving at a rate of about 8% per year. At this rate, the breakeven price will probably be $2 a gallon in 2013."