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Industry - Society-wide financial and energy use implications of Reinventing Fire for industry sector 4 Items
Increased adoption of energy efficient technologies as well as cogeneration and waste heat recovery systems will reduce energy use by an additional 4.7 quadrillion BTUs from business-as-usual. These and other changes (energy changes due fuel switching or transformation in other sectors) can reduce projected primary energy use by 27% in 2050.
Net refining, efficiency and CHP savings can reduce industrial sector primary energy use 27% below the 2050 “business-as-usual” forecast despite 84% higher industrial production.
Increased adoption of energy-efficient technologies and combined heat and power (CHP) invest $0.28 trillion to save $0.95 trillion in energy costs by 2050, creating $0.66 trillion in net wealth and strong competitive advantage.
Present-valued at a 3%/y real discount rate, an investment of $284 billion returns more than $949 billion in saved industrial energy. Naturally, the net return shrinks at very high discount rates.