Doubling energy efficiency measures could help global industry save around $437 billion by the end of the decade, the Energy Efficiency Movement said in a new report. The modeling in the report commissioned by the Energy Efficiency Movement to Development Economics, an independent economic impact assessment provider, incorporated the best available data and included input from experts at leading industrial players including ABB, Alfa Laval, and Microsoft.
The 10 key energy efficiency measures include the installation of high-efficiency motors, usage of variable speed drives, electrification of industrial vehicle fleets, switching to heat pumps, and deployment of smart building management systems. The Energy Efficiency Movement was launched by ABB in 2021 and has received a positive reaction throughout industry, with more than 400 companies joining as of 2023.