ABB: Energy Efficiency Is the Best Way for Industry to Cut Costs and Reduce Emissions Right Now
ABB highlights the vital role of energy efficiency in reducing costs and emissions in the industrial sector through a new report by the Energy Efficiency Movement. This report outlines 10 actionable steps that can be implemented immediately, emphasizing widely available technologies. Industry accounts for 42% of global electricity demand, with substantial potential for cost savings and emission reductions through improved efficiency. Key contributors to the report include ABB, Microsoft, and the International Energy Agency.
- The report outlines 10 immediate actions for energy efficiency, expected to significantly reduce costs and emissions.
- Focus on mature technology solutions with rapid ROI potential and scalability for industrial users.
- The industrial sector, being the largest energy consumer, faces high costs amid current inflationary pressures.
- Independent report highlights 10 actions to help industrial users improve their energy efficiency right now
- Improving energy efficiency will reduce energy bills and emissions substantially in the short- to mid-term, without compromising productivity
- Industry is the world’s largest consumer of electricity, natural gas and coal, and accounts for 42 percent of electricity demand
Published today, the “Industrial energy efficiency playbook” includes 10 actions that a business can take to improve its energy efficiency, reduce energy costs and lower emissions right now. It focuses on mature, widely available technology solutions that will deliver rapid results and ROI – and are capable of being deployed at scale.
“Energy efficiency is a win-win for companies and the climate,” said
Industry is the world’s largest consumer of electricity, natural gas and coal, according to the IEA, accounting for 42 percent of total electricity demand, equal to more than 34 exajoules of energy.1 The iron, steel, chemical and petrochemical industries are the largest consumers of energy among the world’s top-five energy-consuming countries –
Organizations interviewed for the report include
Further actions involve installing sensors and real-time digital energy monitoring to reveal the presence of so-called “ghost assets” that use power when on stand-by, unlike a digital twin that can simulate efficiency actions without interrupting production. Using smart building solutions to control power systems, lighting, blinds and heating, ventilation and air conditioning (HVAC) will also save energy in industrial facilities.
Other recommendations include installing variable speed drives which can improve the energy efficiency of a motor-driven system by up to 30 percent, yielding immediate cost and emissions benefits. If the more than 300 million industrial electric motor-driven systems currently in operation were replaced with optimized, high-efficiency motors, global electricity consumption could be reduced by up to 10 percent.
“There are energy efficiency solutions available that can help industry mitigate climate change and drive down energy costs, without compromising performance and productivity,” said
Business leaders and experts wanting to learn more about reducing their energy costs and carbon emissions are invited to join a special panel event that dives deep on the opportunities presented in the report and how to capitalize on them. The event will take place at
1 https://www.iea.org/reports/electricity-market-report-december-2020/outlook-2021
2 https://www.microsoft.com/en-us/download/details.aspx?id=56950
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