Why Industrial Energy Savings Is Important
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The US Energy Information Administration’s (EIA) report shows that the industrial sector accounted for 33% of US energy consumption in 2020. Unfortunately, a great deal of this energy is wasted through inefficient use. This wasted energy costs companies money, resources, and profit. Hence, energy efficiency should be a crucial part of the strategic energy management of all industrial facilities.
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To illustrate why industrial energy savings is even more important, let’s look at its impact on global energy demand during the COVID-19 pandemic when industrial and manufacturing operations were partially halted. The EIA made some of these crucial points:
Overall global energy demand decreased by 3.8% in 2020, considered the most significant drop in the past 70 years.
While many factors contributed to the decline, one factor is shifting energy demand from industrial and commercial to increased residential energy use.
The lockdown partially suspended economic activity, which dropped industrial electricity demand by 21% and reduced commercial electricity demand by 15%.
Global carbon emissions reduced by 5% in 2020.
Global coal demand hit one of its lowest drops, with a reduction of 8% in 2020.
Interest in renewable energy sources increased by 1.5%, particularly in new wind and solar technology.
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