Belt friction isn't much either. Obviously more than no belt, but that's hard to do. The latest Toyota hybrids are completely beltless, so obviously there is some gain, but in the grand scheme of things? Like Daox said, it's not much.
The best would be like what Mazda is doing soon. The alternator charges when decelerating and turns off when accelerating, and charges a large capacitor to keep the charging system happy all the time. Maybe someone needs to invent a DIY version.
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