Adding to this is also the concern regarding turning sustainable, as the European Union doubles down on its sustainability initiatives such as Digital Product Passport and Extended Producer Responsibility, where manufacturers and brands would now have to keep sustainability a priority at every step of production, including usage of water and electricity.
With everything coming at once, costs have soared, and in the United States, big brands have undertaken cost-cutting measures through trimming the workforce or reducing inventory.
While saving margins and shaving costs is the priority, retailers are now looking at another solution, which is powering their stores using a single unit of energy storage, which helps them use electricity for cheaper than what they otherwise would have been able to buy from the grid.
CEO of Hyliion, Thomas Healy, said that the retail sector has always been open to the idea of using alternative sources of energy, such as on-site power generation, as witnessed by Home Depot’s early adoption of a technology called Bloom Energy.
