We’ve already seen the new Accord but at the Los Angeles Auto Show, Honda announced that the frugal, Plug-in Hybrid (PHEV) variant of the series will be available for retail sale and lease beginning January 15 in the states of California and New York, with an MSRP of $39,780, excluding a $790 destination (*) fee.

Whether or not it’s worth paying close to double or about $18,000 more than the base $21,680 2013 Accord with a 185hp four-cylinder engine, or even a $10,000 premium over a fully equipped EX-L with Navigation, is something that buyers should seriously take into consideration.

The 2014 Accord PHEV’s powertrain couples Honda’s new Earth Dreams 2.0-liter i-VTEC 4-cylinder engine producing 137 horsepower, with a 124kW (166hp) electric motor and a 6.7 kilowatt-hour (kWh) lithium-ion (Li-Ion) battery, for a combined system output of 196 horsepower.

Honda says the Accord PHEV earns the highest EPA MPGe rating in its class at 115 MPGe, exceeding other plug-in competitors such as the Ford C-Max Energi (100 MPGe), Chevy Volt (98 MPGe), and Prius Plug-in (95 MPGe)

In addition to the PHEV, Honda also plans to offer a conventional hybrid variant of the new Accord next summer with the same gasoline engine but without plug-in capability, retunring anticipated fuel economy ratings of 49mpg city, 45mpg highway and 47 mpg combined.

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