A braking energy recovery system adapted for use on a vehicle and a vehicle having such a system installed. The vehicle has an engine-transmission assembly, a driveshaft, a braking system and an auxiliary system. The energy recovery system comprises a first pump, a hydraulic accumulator and a hydraulic motor. The first pump is a variable displacement hydraulic pump. The hydraulic accumulator is connected to the first pump and is operative to store hydraulic fluid under pressure. The hydraulic motor is hydraulically connected to the accumulator to receive hydraulic fluid. The motor is adapted to drive a second hydraulic pump, which is hydraulically connected to the auxiliary system, using hydraulic energy stored in the accumulator.