Better Place founder and CEO Shai Agassi takes energyNOW! Chief Correspondent Tyler Suiters on a tour of the charging infrastructure his company is installing in Israel, and demonstrates how battery replacement can increase electric vehicle efficiency.

The key to Agassi's system is the charge spot. It's a charging unit that can be located at home or in the workplace, allowing the driver to "top off" the vehicle's battery in the most common parking locations. The charger plugs into electricity form any generation source.

When the battery is drained from extensive driving, the other key piece of the Better Place system comes into play. Instead of recharging the battery, the driver goes to a station where the battery is swapped out for a fully-charged one. The whole process is automated, and can take less than a minute. The battery is then recharged and ready to go into another vehicle in 30 to 45 minutes, depending on the current at the station.

Agassi says his system will be locally sourced -- it will be designed and manufactured where the charging stations are located, assuring that jobs go with the system.