Hybrids: Don't buy the hype
Sure, hybrids save gas but they won't save you money. There are smarter ways to go, says By Peter Valdes-Dapena, CNN/Money staff writer
With gasoline prices at a high, you might think it makes a lot of sense that hybrid cars
are hot sellers.
They may make a social statement you're interested in, but if you want to save money because of rising gas prices, you're heading down the wrong road by buying hybrid autos
, at least for now, says this report.
This kind of gets me thinking about the prices of various alternative energy sources
right now...and in almost every case, the prices are higher than what we get from conventional sources and fossil fuels.
For instance, in the case of hybrids, I understand that they don’t save much at highway speeds, and many Americans commute at highways speeds. The capital costs on hybrids are higher as well. And it is not just with hybrids...I live in a hot (not sexy, but 105 degree F hot) city in India, and may be I can simply capture all the sun's heat and convert into electricity
...maybe, but solar
panels aren't cheap. Geothermal
perhaps, way too costly.
You go across the spectrum, and analyse other alt energy sources - wind energy
, wave energy
, all these cost relatively more right now...
Now don't get me wrong, I am not complaining, just stating a fact. This does not unduly worry me though, the prices are higher but not unaffordable, which in itself is great...when you consider that we are just on the threshold of exploring new sources of energy, I am optimistic the prices will fall quickly, and all the time, the prices of fossil fuels will be rising...
Back to hybrids. A further search on the cost of ownership of hybrids landed me on an interesting post on hybrids which said, "The Time for Hybrid has Come"
. The author cites an Edmunds.com report which gives the following reason why the hybrids are more economical now:
1. Now is the time when the prices and expenses on hybrid vehicles are at its lowest because there is now more supply than demand.
2. Incentives are now being offered on most of the popular hybrid vehicles.
3. Tax credits would be way lower especially later in the spring.
4. Gas prices are going up again.
So, perhaps right now hybrids might be more attractive than what they could be a couple of months lower, especially if gas prices go down again (optimistic thinking, I admit), but we need a far more stable price differential than that. Overall, I am not sure the time for hybrids has come, but perhaps what that day is not far into the future.
If I write a similar post perhaps a couple of year later the title in all probability will be, "Of course Hybrids save you money
Read the full post here @ Hybrid Cars News
Labels: autos, costs, hybrids
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