The electric vehicle industry has been experiencing tremendous growth over the last three years. Now, as battery costs fall and technology continues to dramatically improve, electric vehicle models available to consumers are expected to triple in just four years, according to Utility Drive

Declining battery costs are “the most important story when you think about EV,” said Joel Levin, executive director of Plug in America. He said costs have been dropping about 15% annually as batteries are manufactured to be smaller, more powerful and dense.

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