An important component in many hybrid electric vehicle (HEV) concepts is the load leveling device (LLD). The best type of LLD for HEVs is under debate. This paper identifies the important concept selection criteria for the three leading types of LLDs being considered for use in HEVs. The performance of electrochemical batteries, ultracapacitors, and flywheels is compared using these criteria. The concept selection methodology indicates that at the present time flywheels show the most promise for development for use in a hybrid electric vehicle. The use of this type of selection methodology is a powerful tool in identifying concepts worthy of development as well as determining performance criteria in need of improvement within each concept.