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

Rhea-AI Summary

Schneider Electric forecasts a notable 50% increase in U.S. industry electrification by 2030, from 30% to 45%, potentially reducing fossil fuel demand by 25%. The company's Sustainability Research Institute projects 16 of 21 sectors achieving 60% electrification by 2030, and U.S. industry as a whole reaching 64% by 2040 with a 50% fossil fuel reduction.

To support this trend, Schneider Electric announces a $23.8 million investment in its South Carolina operations, creating 280 new jobs. This includes 130 positions at its Seneca facility and 150 at Columbia. The expansion aims to modernize and electrify facilities to advance sustainability and decarbonization goals.

These initiatives align with broader efforts, including a $140 million investment in U.S. operations and creation of 750 jobs in 2024. Schneider Electric's investment in South Carolina is part of over $440 million spent on its American manufacturing network since 2020.

Positive

• Schneider Electric projects a 50% increase in U.S. industry electrification by 2030.
• Potential 25% reduction in fossil fuel demand by 2030.
• $23.8 million investment in South Carolina operations.
• Creation of 280 new jobs in South Carolina.
• Support for critical infrastructure and increasing demand for data center solutions.
• $140 million investment in U.S. manufacturing operations in 2024.
• 750 new manufacturing jobs across the U.S. in 2024.

Negative

• None.

• The company's Sustainability Research Institute projects uptick in Industry electrification and reduction in fossil fuel demand
• Its investments to modernize and electrify its South Carolina operations advance its own sustainability and decarbonization targets
• Planned 280 new South Carolina jobs add to the 1,200 workers it currently employs in the state

WASHINGTON, D.C., June 25, 2024 /PRNewswire/ -- Today, Schneider Electric — the global leader in the digital transformation of energy management and automation — 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.

In tandem with these trends, Schneider Electric will upgrade, modernize, and maintain its Seneca and Columbia manufacturing plants; it will also electrify Seneca's heating, ventilation, and air conditioning system to enhance its efficiency and reduce costs advancing its own sustainability and decarbonization targets. 

Altogether, the company will invest $23.8 million into its South Carolina manufacturing operations. The company also said it expects to create 280 new production jobs in the state, including 130 jobs in its Seneca facility and 150 jobs in its Columbia facility adding to the more than 1,200 workers Schneider Electric currently employs in South Carolina. Hiring at both facilities will take place over the course of 2024.

This expanded workforce will manufacture custom power distribution products that are integral to electrification and energy efficiency, bolstering support for critical infrastructure, industries—particularly healthcare and wastewater treatment—and the escalating demand for data center solutions across the U.S.

Speaking at the SelectUSA Investment Summit, Schneider Electric President of North America Operations Aamir Paul said: "This new research demonstrates why electrification is the most promising and practical means of decarbonizing industry quickly. We anticipate significant acceleration across all sectors, even hard-to-abate industry, to reach decarbonization targets and maintain economic competitiveness. As we move more towards this electrified and digitized world, we're spearheading this transformation through our own investments in a robust domestic supply chain, including in the state of South Carolina to bolster our manufacturing efforts for customers."

Commenting on the announcement, South Carolina Governor Henry McMaster said: "Schneider Electric's further investment in South Carolina is a testament to our strong business climate and skilled manufacturing workforce, and we look forward to the economic opportunities this expansion will create for residents in Oconee and Richland Counties."

In March, Schneider Electric announced plans to invest $140 million into its U.S. manufacturing operations and create about 750 new manufacturing jobs across the country in 2024. The company's South Carolina investments, which are accounted for in the 2024 financial and jobs totals, follow its recent manufacturing expansion announcements in Tennessee and Texas. Since 2020, Schneider Electric has invested more than $440 million across its American manufacturing network, which includes more than 22 facilities across 14 states.

Schneider Electric has had a presence in the U.S for 135 years. The company employs more than 19,000 workers in the country and its products and solutions can be found in four of 10 U.S. homes, 40 percent of the world's hospitals, and in water and wastewater installations in 150 countries. 

In 2023, TIME magazine named Schneider Electric to its 100 Most Influential Companies list recognizing it for work done to help clients reduce greenhouse-gas emissions. The company is also ranked among the Top 10 of the 2023 Best Workplaces in Manufacturing & Production by the Great Place to Work U.S. organization and Fortune magazine.

More information about Schneider Electric's heritage and presence in America can be found here.

About Schneider Electric

Schneider's purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability. At Schneider, we call this Life Is On.

Our mission is to be the trusted partner in Sustainability and Efficiency.

We are a global industrial technology leader bringing world-leading expertise in electrification, automation and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI enabled Industrial IoT solutions with connected products, automation, software and services, delivering digital twins to enable profitable growth for our customers.

We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.

www.se.com  

Discover Life Is On   Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog   

Discover the newest perspectives shaping sustainability, electricity 4.0, and next-generation automation on Schneider Electric Insights.

Hashtags: #industry #electrification #manufacturing #jobs #South Carolina

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SOURCE Schneider Electric

FAQ

What is the projected increase in U.S. industry electrification by 2030 according to Schneider Electric?

Schneider Electric forecasts a 50% increase in U.S. industry electrification, from 30% to 45%, by 2030.

How much will Schneider Electric invest in its South Carolina operations?

Schneider Electric will invest $23.8 million in its South Carolina operations.

How many new jobs will Schneider Electric create in South Carolina?

Schneider Electric will create 280 new jobs in South Carolina.

What is the anticipated reduction in fossil fuel demand by 2030 according to Schneider Electric's report?

The report anticipates a 25% reduction in fossil fuel demand by 2030.

What are the details of Schneider Electric's investment in U.S. operations in 2024?

Schneider Electric plans to invest $140 million in U.S. manufacturing operations, creating about 750 new jobs across the country in 2024.