New York is creating an induction stove challenge to incentivize manufacturers to create induction stoves that operate on 120 volt outlets.

https://www.nyserda.ny.gov/About/Newsroom/2023-Announcements/2023-07-24-NYCHA-NYSERDA-and-NYPA-Sign-Agreement-for-the-Induction-Stove-Challenge

Current induction stoves operate at higher voltage, requiring an expensive kitchen upgrade for many residences.

No doubt a 120 volt induction stove would lower the cost of switching from natural gas for many people, increasing demand induction cooking.

So why doesn't such a stove exist yet? Possibly manufacturers think the reduced cost wouldn't induce enough people to switch to make the R&D costs worthwhile. In that case, New York is advocating (and will eventually mandate) something consumers don't want.

Or it could be because it's technically challenging. Perhaps it can't be done, in which case NY's challenge is pointless.
Or perhaps firms think it can be done and will be desired by consumers, in which case they'll already be working on developing such a stove, making NY's challenge superfluous.

Apparently, some people can't imagine that the market will give people what they want if it's possible unless government in some ways mandates or incentivizes them to. It's an odd world view in that it implicitly assumes firms aren't greedily trying to make as much profit as possible.