Ever wonder how much it costs a major electronics company to green its operations? The answer, if we are to believe LG, is $18 billion. That’s how much the electronics giant plans to invest by 2020 in an attempt to cut emissions 40% compared to 2009 levels and to expand energy-efficient and renewable energy product development.
LG already produces solar cells, but the massive investment will allow the company to produce energy-efficient air conditioners, TVs, refrigerators, fuel cells, and EV batteries. Eventually, LG predicts that energy-saving products will make up 10% of the company’s revenue.
The South Korean company is far from the only electronics manufacturer to set its sights on energy efficiency. Companies including Hitachi, Panasonic, Sharp, and Samsung have already announced plans to take on lithium-ion battery production, solar cells, and energy-efficient household appliances. Just last week, Sony announced its own ambitious plan to reach a zero environmental footprint by 2050–a feat that we imagine will cost well over $18 billion.