2021 Volvo V60 plug-in hybrid vs gas: is the plug-in worth it?

Recharge T8 eAWD PHEV Polestar AWD vs T5 AWD

No. Does not pay back in 6 years.

55.1years to pay back

Plug-in: $21,850 more. Saves $396 a year.
Break-even: 661,800 miles.
No gas trim with the same name. Cheapest gas AWD/4WD trim used.
12,000 miles a year. Gas $3.20. Electricity 17 cents a kWh. Plug-ins: 50% of miles on electricity.

Bars: total energy saving after each year. Dashed line: the $21,850 price gap.

Every plug-in pair

2021 Volvo V60 plug-in hybrid vs gas: every pair
Pair	MSRP	Rating	Energy a year	Price gap	Saves a year	Payback	Ahead after 6 years
Recharge T8 eAWD PHEV Polestar AWD T5 AWD	$67,300 $45,450	30 mpg, 49 kWh/100 mi 25 mpg	$1,140 $1,536	$21,850	$396	55.1 years	Gas, $19,473
Plug-in Hybrid T8 Polestar Engineered eAWD T5 Momentum FWD	$67,300 $40,950	30 mpg, 49 kWh/100 mi 27 mpg	$1,140 $1,422	$26,350	$282	93.3 years	Gas, $24,655
T8 Polestar Engineered Recharge Plug-In Hybrid AWD T5 AWD	$67,300 $45,450	30 mpg, 49 kWh/100 mi 25 mpg	$1,140 $1,536	$21,850	$396	55.1 years	Gas, $19,473

Recharge T8 eAWD PHEV Polestar AWD vs T5 AWD: other differences
Measure	Plug-in	Gas	Change
Horsepower	415 hp	250 hp	+165 hp
Torque	494 lb-ft	258 lb-ft	+236 lb-ft
Max towing	2,000 lb	2,000 lb	about the same
Cargo, seats up	23.2 cu ft	23.2 cu ft	about the same
Cargo, seats down	50.9 cu ft	50.9 cu ft	about the same
Curb weight	4,529 lb	4,031 lb	+498 lb

Incentives, insurance, upkeep and resale are not included.

Your own mpg will differ.