unless the electricity is really cheap or from high efficient so

it will go back to the same issue----cost and pollution from power generation. Also the source of water, in industry scale production, one of the comman approches uses electricity to reduct NaCl solution---like sea water, it generates Cl2, H2, NaOH, very common chemical raw materials. It burns a lot of electricity(yield definitely not 100%), can bring a lot pollution if doesn't deal with carefully