2024 Volvo S60 plug-in hybrid vs gas: is the plug-in worth it?

Recharge Plug-In Hybrid T8 eAWD PHEV Core Dark Theme AWD vs B5 AWD Core Dark Theme

No. Does not pay back in 6 years.

25.5years to pay back

Plug-in: $7,200 more. Saves $283 a year.
Break-even: 305,400 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 $7,200 price gap.

Every plug-in pair

2024 Volvo S60 plug-in hybrid vs gas: every pair
Pair	MSRP	Rating	Energy a year	Price gap	Saves a year	Payback	Ahead after 6 years
Recharge Plug-In Hybrid T8 eAWD PHEV Core Dark Theme AWD B5 AWD Core Dark Theme	$51,950 $44,750	31 mpg, 46 kWh/100 mi 28 mpg	$1,089 $1,371	$7,200	$283	25.5 years	Gas, $5,503
Recharge Plug-In Hybrid T8 eAWD PHEV Plus Dark Theme AWD B5 AWD Core Dark Theme	$54,900 $44,750	31 mpg, 46 kWh/100 mi 28 mpg	$1,089 $1,371	$10,150	$283	35.9 years	Gas, $8,453
Recharge Plug-In Hybrid T8 eAWD PHEV Plus Black Edition AWD B5 AWD Core Dark Theme	$56,600 $44,750	31 mpg, 46 kWh/100 mi 28 mpg	$1,089 $1,371	$11,850	$283	41.9 years	Gas, $10,153
Recharge Plug-In Hybrid T8 eAWD PHEV Ultimate Dark Theme AWD B5 AWD Core Dark Theme	$57,400 $44,750	31 mpg, 46 kWh/100 mi 28 mpg	$1,089 $1,371	$12,650	$283	44.7 years	Gas, $10,953
Recharge Plug-In Hybrid T8 eAWD PHEV Ultimate Black Edition AWD B5 AWD Core Dark Theme	$58,550 $44,750	31 mpg, 46 kWh/100 mi 28 mpg	$1,089 $1,371	$13,800	$283	48.8 years	Gas, $12,103

Recharge Plug-In Hybrid T8 eAWD PHEV Core Dark Theme AWD vs B5 AWD Core Dark Theme: other differences
Measure	Plug-in	Gas	Change
Horsepower	455 hp	247 hp	+208 hp
Torque	523 lb-ft	258 lb-ft	+265 lb-ft
Max towing	2,000 lb	2,000 lb	about the same
Cargo, seats up	11.6 cu ft	11.6 cu ft	about the same
Curb weight	4,425 lb	3,949 lb	+476 lb

Incentives, insurance, upkeep and resale are not included.

Your own mpg will differ.