A tremendous opportunity faces the pioneers in the Power Conversion process.
Electric motion is the sleeping giant of electrical applications.
Fifty per cent of electricity in the United States is consumed by motors. Ninety per cent of those are uncontrolled motors with no semiconductors making them painfully inefficient. Lighting is the largest application for electricity in the world and 75 per cent of that amount is all waste. In order to generate greater prosperity and raise our standard of living across the full spectrum, we need to lower the cost of energy. Electricity is poised to become the dominant form of energy in the next millennium.