Are plug-in hybrid electric vehicles a viable option, and could they help reduce our oil dependence?
The plug-in hybrid, were it to come to market, seems to be a very attractive option when the cost of utilization is considered. These vehicles would allow most short-distance driving to be achieved through the use of only a battery. The cost to charge up to 35 kWh at an average retail price of 9.45 cents per kWh (the average price to residential consumers in 2005) in the United States is $3.31. Such a charge would give a range of up to 150 miles, rendering a cost of 2.2 cents per mile. This is far better than the cost per mile for the average gasoline-fueled internal combustion engine of 17 cents per mile (a $3 per gallon equivalent at 17.3 miles per gallon). In fact, in order to get the cost per mile up to a $3 per gallon gasoline equivalent, the retail price of electricity must be greater than 50 cents per kWh, which is considerably higher than current price of 9.5 cents per kWh. Of course, moving to a transportation sector that is more dependent on electricity would drive up electri
