We have discussed in the past that one of the few positives related to the growing cost of fuel is the urgency for innovation that is created. I really don’t believe we have hit that breaking point yet, however, concerns are growing and we are getting closer.

One innovative person that believes we should act now is Shai Agassi. Shai is the founder of a company called Project Better Place. The company launched in 2007, is backed by 200 million dollars and has the goal of moving a countries transportation from gasoline to electric. The companies plan is to create an infrastructure for inexpensive electric cars. Rather than buying an expensive gasoline powered automobile, you would purchase miles for an electric car on the Project Better Place system. Each subscriber would receive an electric car, a battery and have access to recharging stations across the country. The company is also looking to power the recharging of the electric cars using solar energy to create a truely green system. The first 500 cars should be available in Israel by this time next year.

More than innovation I think this is really an example of an individual pushing forward and actually making something happen. Not surprising, the driving force of this revolution is coming from the private sector, where financial incentives prevail.