Schneider Electric Forecasts 50% Surge in U.S. Industry Electrification by 2030, Announces $23.8 Million Investment and 280 New Jobs in South Carolina Operations Amid Electrification Trend
Recently, Schneider Electric released a new report that projects that electrification of U.S. industry will grow from 30 percent to 45 percent by 2030, a 50 percent increase. The report, compiled by the company’s Sustainability Research Institute, also recognizes the potential for a corresponding 25 percent reduction in fossil fuel demand over the same period. The report provides detailed analysis by sector, projecting that 16 of 21 sectors will reach 60% electrification by 2030. Further, it projects that U.S. industry as a whole will reach 64% electrification by 2040 with a corresponding 50 percent reduction in fossil fuel use.