The F1 hybrid system is not the same thing as the hybrid system you’d see in street vehicles.This hybrid system is known as KERS (Kinetic Energy Recovery System).
KERS doesn’t store as much energy as the standard hybrid system,but it only weighs 55 pounds and the limited energy storage capacity is well suited for Formula-style racing.

The difference between KERS and a traditional hybrid system is that KERS won’t convert waste energy into electricity for using it again.KERS stores recovered waste energy in a rotating flywheel.By pressing a “boost” button this energy will provide the car with extra speed.

The creators said that KERS is better than a traditional hybrid system.If this system will be applied on production vehicles it will be possible to realize enormous improvements in fuel economy and huge reductions in GHG emissions.

Max Mosely of F1 has announced that all cars will have hybrid systems by 2013.