Switching to energy efficient motor driven systems can save Europe up to 202 billion kWh in electricity consumption, equivalent to a reduction of €10 billion per year in operating costs for industry.
It would also create the following additional benefits:
- A saving of €5-10 billion per year in operating costs for European industry through reduced maintenance and improved operations (EU-25).
- a saving of €6 billion per year for Europe in reduced environmental costs (EU-25, calculated using the EU-15 fuel mix).
- a reduction of 79 million tonne of CO2 emissions (EU-15), or approximately a quarter of the EU's Kyoto target. This is the annual amount of CO2 that a forest the size of Finland transforms into oxygen. If industry is allowed to trade these emission reductions based on energy saved, this would generate a revenue stream of €2 billion per year. For EU-25, the reduction potential is 100 million tonne.
- a 45 GW reduction in the need for new power plant capacity over the next 20 years (EU-25).
- a 6% reduction in Europe's energy imports (EU-25).
