The EV Is Coming On Fast

One dramatic chart shows why electric cars are about to become mainstream

Rebecca Harrington, March 29, 2016 (Tech Insider)

“One of the most expensive parts — if not the most expensive part — of an electric car is its battery…Researchers estimate that once EV batteries cost $150 per kilowatt hour (kWh), they'll be cost-competitive with gas vehicles…[A fully-charged Tesla Model S 90D can now] go about 270 miles on its 85 kWh battery, according to the company…EV batteries have dramatically dropped in price over the last five years, according to the [just-released United Nations-backed] Global Trends in Renewable Energy Investment 2016…In 2010, the global average was $1,000 per kWh. By last year, it had fallen to $350 per kWh…Tesla's highly anticipated Model 3will be priced at about $35,000. And the Chevy Bolt, expected for late 2016, will cost $30,000…If batteries keep decreasing in price at this rate, a report from Argonne National Laboratory predicts that electric cars will make up 58% of the light vehicle market by 2030. And by then, non-hybrid gas cars will comprise less than one-fourth of the market…” click here for more

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