McKinsey: Industry Can Save $600B Annually on Energy

industryMcKinsey Research finds that operational improvements can reduce energy consumption by 10 percent to 20 percent, which is far less than the 50 percent of consumption that can be cut by use of renewable resources.

McKinsey says that global manufacturing – which the research says accounts for half of all global energy use – could save $600 billion annually by implementing innovative technologies.

The report – entitled “Greening the Future: New Technologies that Could Transform How Industry Uses Energy” – looks at potential innovations in nine categories, including cement, mining, consumer goods and mining. The study suggests that industry think differently in five ways: Think lean, think limits, think profits per hour, think holistic and think circular.

An article posted in August at the World Coal website said that electricity accounts for 32 percent of a mine’s energy use. Grinding and ventilation offer the best potential for energy reduction.




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