Manufacturing sector in India could increase electricity efficiency by 18%
Siemens Financial Services, a subsidiary of Siemens AG offering financing services, conducted a research among the global top 20 industrial equipment manufacturers. The research findings said, “India has approximately 17.9% of untapped potential of electricity-efficiency”
The research also said that optimising the industrial motor-driven systems could deliver overall savings up to 60% on industrial electricity consumption there by leading to huge opportunity for cost-savings.
“In particular, electricity consumption and prices have risen substantially over the last decade. Electricity usage in the manufacturing sector has undergone huge growth over the last 40 years, rising three times faster than overall energy use, and now represents over a quarter of industrial energy consumption,” said the report. By estimating the unused potential for electricity-efficiency in the manufacturing sector, it puts India in the second position following Russia and ahead of China in electricity-efficiency potential.
“Investing in electricity-efficiency technologies not only helps cut energy bills, manufacturing costs and carbon emissions, new equipment often brings productivity and capacity improvements as an added bonus, improving business performance and competitiveness. The global manufacturing sector is inevitably electrifying. Resulting in electricity becoming a pathway to a sustainable energy system and allowing greater levels of automation and digitalization in the manufacturing process,” said Sunil Kapoor, Chief Executive Officer, Siemens Financial Services.
The manufacturing sector globally is now estimated to account for 42% of total annual electricity consumption. The sector has therefore become keenly focused on installing more electricity-efficient equipment to reduce the consumption and cost of electricity. As a result, an increasing range of electricity-efficient solutions are now available to manufacturers that help reduce electricity consumption, reduce transmission losses, improve business performance, reduce lifecycle costs and meet environmental regulations.
