The dream: Electric vehicles become more affordable. I assumed the reality was that it would never happen. I figured that by the time technology advanced and prices came down, everything else has come up making it a wash. Chevrolet is the first to prove my thoughts wrong, today announcing the new Volt will cost $5,000 less for 2014, coming in at $34,995 sticker. Depending on your tax situation, you could get the price all the way down to $27,495. Here is the entire press release from Chevrolet:

The Chevrolet Volt, already recognized for having the most satisfied owners will soon come with another people pleaser: a lower price. The 2014 model will start at $34,995, including an $810 destination fee (excluding tax, title, license and dealer fees).

If consumers include federal tax credits ranging from $0-$7,500 (depending on individual tax liability), pricing could start at $27,495. Individual tax situations differ, so consult a tax professional prior to claiming any credits to confirm eligibility for vehicle tax benefits.

"The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership," said Don Johnson, U.S. vice president, Chevrolet sales and service. "The 2014 Volt will offer the same impressive list of features, but for $5,000 less.

"We have made great strides in reducing costs as we gain experience with electric vehicles and their components," Johnson said. "In fact, the Volt has seen an increase in battery range and the addition of creature comforts, such as a leather-wrapped steering wheel and MyLink, since its launch in 2010."

Volt owners who charge regularly typically drive 900 miles between fill-ups and visit the gas station about once a month. The 2014 Volt will continue to provide owners with impressive fuel economy of 98 MPGe (electric) and 35 city/40 highway on gasoline power without any need to change their daily driving habits while saving $900 in annual fuel costs. Today's Volt owners have logged 364 million miles, including 225 million electric miles.

The Volt's lower price also changes the comparative set of vehicles on popular auto information sites like kbb.com, Edmunds.com and cars.com, where visitors to these sites can search for a new vehicle by type and/or prices. The Volt's lower price will broaden its exposure to price-sensitive prospective buyers using these sites to search for a plug-in electric vehicle or a gas-powered alternative sedan.

The Volt continues to be the best selling plug-in vehicle in America and is attracting new buyers to the Chevrolet brand. More than 70 percent of Volt buyers are new to General Motors. Not surprisingly, the Toyota Prius is the most frequently traded-in vehicle for a Volt.

California continues to be Volt's largest market. The 2014 Volt will continue to offer a low emissions package that earns the Volt a coveted "sticker" for single-occupancy HOV lane access in California and New York.

The Chevrolet Volt allows gas-free driving for an EPA-estimated 38 miles (61 km), depending on terrain, driving techniques and temperature. The range-extending engine gives the Volt up to 380 total miles (615 km) of total driving range. The 2014 Volt will start to be available in dealer showrooms late this summer. Chevrolet will introduce two new colors – Ashen Gray Metallic and Brownstowne Metallic for the 2014 model year – and a leather-wrapped steering wheel.