Over-Regulation Is Doubling the Cost
2 days ago
- #Regulation
- #Hardtech
- #Climate
- Founder transitioned from software to hardware, focusing on carbon removal and electric trucking, encountering significant regulatory hurdles.
- Regulatory bottlenecks are the biggest barrier for hardtech companies, increasing costs, delaying innovation, and harming the environment.
- Charm Industrial faced a 5.5-year delay in permitting for carbon removal, costing $90M and causing $300M in public health burdens.
- Revoy's electric trucking solution was delayed by unclear regulations, leading to a $27M unnecessary certification cost.
- Over-regulation is counterproductive, blocking clean technologies that could improve health, reduce costs, and boost the economy.
- Proposed solutions include simplifying regulations, expediting reviews, and adopting a 'permits by right' approach to foster innovation.