High costs hinder corporate electrification
In Short
Many corporations have yet to electrify their processes, often committing to this transition over extended timelines spanning years or even decades.
A Few Details
Leading corporations, especially those under public scrutiny, have pledged to reduce their emissions, with some taking proactive steps to do so. However, many other corporations face significant financial barriers to rapid electrification. The additional costs associated with transitioning could lead to a loss of market share, as these costs would likely be passed on to consumers. Furthermore, decarbonizing heavy industries, such as steel and cement, continues to present substantial challenges.
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