Although, in theory, firms might be expected to borrow capital any time that a profitable investment opportunity presents itself, in practice firms often ration capital—that is, they impose internal limits on capital investment. Worrell et al. What does an Industry 4.0 manufacturer look like? For example, in the buildings sector, the business-as-usual hurdle rate is assumed to be about 15 percent (in real terms). A drip can usually be repaired by replacing the washer. Excess use will result in increased energy consumption. Accessed December 2, 2008. For example, ExxonMobil achieved a 35 percent reduction in the energy intensity of its global refining and chemical operations from 1974 to 1999 and has identified a further 10–15 percent cost-effective energy-savings opportunity in all plants around the world (Expert Group on Energy Efficiency, 2007). Savings can occur over time as a result of changes within plants or in processes and from shifts to plants and processes that are more energy-efficient; differences in resources, prices, and other factors also matter. ", 18 Houston Chronicle, "Laptop vs. PC Power Consumption. One example of a near-term opportunity is isothermal melting—a revolutionary aluminum melting technology with a continuous-flow system using an immersion heater that converts electricity to melting energy with 98 percent efficiency (Figure 4.11). Few appliances need more than 30 minutes to warm up and a lot of energy can be wasted on standby heating. Discover how solutions for the digital enterprise and Energy for Industry can increase competiveness. Ensure ducts are sealed properly with approved foil tape. Printers, photocopiers, and fax machines consume a lot of energy. United Nations Foundation Expert Report. LBNL (Lawrence Berkeley National Laboratory). Outdated capital depreciation schedules, backup fees for combined heat and power systems, and other policies also hamper energy efficiency investment. Key technologies are efficient conveyer systems of the dry kilns and high-efficiency classifiers for the wet kilns. open-hearth furnaces after World War II, despite the demonstration of superior basic oxygen furnaces. February. The U.S. companies need to be at the cutting edge of developing and deploying new material to remain competitive. Install a Programmable Thermostat: Get a thermostat that can automatically adjust itself to the current temperature of your workplace so as to avoid energy wastage. Annual Review of Energy and the Environment 26:303-329. As shown in Figure 4.3, an additional 1.0 quad is identified by McKinsey and Company (2007) as “additional opportunities through driving R&D,” bringing the estimated energy efficiency potential in the industrial sector to 4.9. arise each year as infrastructure and equipment age and as new and improved technologies are introduced into the marketplace. Shareholder activism, good corporate governance, and reputation management are other potential drivers of energy efficiency in industry. These include combined heat and power systems, catalysis, pumps, motor and drive systems, design tools, and computational and other approaches to optimizing operations and maintenance (O&M). FIGURE 4.7 Primary energy intensity of U.S. cement and clinker production, 1970–1999. Available at http://www1.eere.energy.gov/industry/petroleum_refining/bandwidth.html. Cement Industry Energy Intensities by Region and Subregion, B. Install occupancy sensors or manual switches in operating rooms to reduce speeds of air supply and exhaust fans when operating rooms are unoccupied. A recent National Research Council (NRC) study concluded that CHP economics are likely to improve in the near term through technology advancements and new niche applications for which CHP offers an economic advantage (NRC, 2007). If your business has a large or walk-in refrigeration system, make sure it is serviced at least once a year. According to that report, membrane separation is the most widely applicable of all technologies for reducing the energy of separation processes in the petroleum, chemical, and forest products industries (Nenoff et al., 2006; Banerjee et al., 2008). 2006 Annual Survey of Manufacturers (ASM). Upgrading a kiln from wet to dry and from a long dry kiln to a preheater, precalciner kiln results in major energy efficiency gains but for a price that requires a payback period of at least 10 years. The three most critical technical challenges facing the market for CHP are that (1) original equipment manufacturers need to develop better prime movers. Act. View our suggested citation for this chapter. Install Good Insulation: During winter it can be very expensive to keep your office space warm especially when you are in a very cold and snowy city. From 2001 through 2005, ITP conducted on-site training and assessments at 85 facilities. Berry. About 5 quads, or 21 percent of this total, was for nonfuel uses of coal, gas, and oil—for example, the use of oil refining by-products in asphalt, natural gas employed as a feedstock for petrochemicals, and petroleum coke used in the production of steel (EIA, 2009b). This is partly because energy-efficient products have long depreciable lives, such as 15 years for a new motor or a new industrial boiler. McKinsey and Company (2008) identified regulatory restrictions as the major reason for the U.S. industry’s apparent lack of new investment.

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