FRANKFURT, Oct 24 (Reuters) - Global industry could save around $437 billion a year from 2030 via energy efficiency savings and could also achieve big reductions in carbon emissions, a study showed.
Companies could undertake regular energy audits, review the ideal size of industrial assets, connect sites and machines to reap energy synergies and use more efficient engines, the report said.
"Since renewables can only provide a part of the answer, the critical role energy efficiency plays in accelerating the energy transition toward reaching net-zero emissions by 2050 is undeniable."
Last week, the U.S. Energy Information Administration (EIA) said global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, boosted by population growth and higher living standards, among other factors.
Non-fossil fuel-based resources, including renewables, will produce more energy through 2050, but that growth is not likely to be enough to reduce global energy-related CO2 emissions, it said.
Persons:
Tarak Mehta, Christoph Steitz, Jane Merriman
Organizations:
Energy Efficiency Movement, ABB, Germany's DHL, Sweden's Alfa Laval, Microsoft, Reuters, Companies, U.S . Energy Information Administration, Thomson
Locations:
FRANKFURT