Assessing the Reduction of Social Costs From Carbon Emissions of Hybrid Vehicles

In Russia, as in many countries worldwide, the introduction of an economic equivalent of the social costs of carbon dioxide emissions is being discussed. This means that the harm from any technological process associated with CO2 emissions can be estimated in monetary terms, as can the benefits of reducing these emissions. Consequently, the costs of any environmentally friendly technology can be justified in terms of CO2 equivalent. In this regard, this article compares a hypothetical reduction in the social costs of carbon emissions and a reduction in the economic costs of using hybrid vehicles compared to vehicles with an internal combustion engine only. Hybrid vehicles with series, parallel, and series-parallel combined power plants are considered. Vehicles using methane as fuel are also included in the comparison. The comparison revealed a reduction in social costs in terms of CO2 equivalent and a reduction in the economic costs of using more fuel-efficient comparable vehicles. The use of hybrid vehicles is justified not only due to fuel savings during operation but also in terms of reducing the social costs of carbon emissions.