Water Conservation and Resources

Efficiency in Industries

Energy Audits in Industry- exploiting the

opportunity-best practices and international

experience

Savvas Louizidis - Head of Energy Unit

23/1/2019

CONTENTS

1. INTRODUCTION-LEGAL CONTEXT

2. ENERGY AUDIT STEPS – GOOD PRACTICES

3. EXAMPLES-OPPORTUNITIES FOR EE

4. INTERNATIONAL EXPERIENCE

2

3

▪ Industry: historically a major energy consumer

▪ In EU accounted for 28% of FEC

▪ Trends in improvement of energy intensity

▪ About 2% per year in European industries

▪ BUT there is substantial unexploited potential

4

1.1 Unexploited potential for industrial EE

Source: ABB, Trends in global energy efficiency 2011, An analysis of industry and utilities

Source: IEA, Tracking Clean Energy Progress, 2015Obstacles for exploitation

4

Source: JRC, 2017

• technically simple

• no and low costmeasures

• complicatedapplications

• medium & highcost measures

• system audits• capital intensive

projects

Preliminary

energy audit

Detailed

energy auditMonitoring audit

(follow up)

Formulation / Revision of investment plan5

1.2 Definition-standards

Standards

• ISO 50002

• EN 16247-1: General Requirements

• EN 16247-2: Buildings

• EN 16247-3: Industrial Processes

• EN 16247-4: Transport

• EN 16247-5: Energy Auditors qualifications

Energy audit ...

“A systematic procedure with the purpose of obtaining adequate knowledge of the existing energy consumption profile of a building or group of buildings, an industrial or commercial operation or installation or a private or public service, identifying and quantifying cost-effective energy savings opportunities, and reporting the findings”, Directive 27/2012/EU

5

6

1.3 Mandatory requirement-Legal context

DIRECTIVE 27/2012/EC

Member States (MS) shall: o promote the availability to all final customers of high quality energy audits which are cost-

effective and either carried out in an independent manner by qualified and/or accredited experts according to qualification criteria; or implemented and supervised by independent authorities under national legislation

o establish transparent and non-discriminatory minimum criteria for energy audits (to guarantee their quality)

o develop programmes to encourage SMEs to undergo energy audits and the subsequent implementation of the recommendations from these audits

o may set up support schemes for SMEs, including if they have concluded voluntary agreements, to cover costs of an energy audit and of the implementation of highly cost-effective recommendations from the energy audits, if the proposed measures are implemented

o MS shall ensure that enterprises that are not SMEs are subject to an energy audit by …… and at least every four years from the date of the previous energy audit

6

7

Step 1. Preparation-data collection

Step 2. Walk-through visit

Step 3. Analysis of energy data

Step 4- Measurements

Step 5. Data analysis

Step 6. Report

Initial meeting

Initial visit

Data collection

Preliminary analysis

Measurements

Detailed analysis

EE proposals

Financial analysis

Reporting

Presentation

Final reportComments

2.1 Energy Audit steps

8

2.2 Energy Audit report

Chapter ContentsExecutive Summary • Procedures followed

• Key figures on baseline• List of all measures and outlook of techno-economic results• Recommended action plan.

CHAPTER 1 Introduction- Site description

• Brief outlook of installations• Description processes-buildings• Description of utilities• Raw materials-products-waste• Energy management, monitoring and accounting procedures followed - current sub-

metering practices

CHAPTER 2

Current energy consumption-performance

• Fuel supply and Electricity supply• Electrical and thermal energy usage• Other resources utilisation• Detailed presentation of on site measurements and analysis

Chapter3

Energy efficiency assessment -benchmarking

• Allocation of energy to ECC-energy balances• Baseline energy consumption• Specific energy consumption per product unit or other key parameter• Comparison with international (benchmarking)• CUSUM analysis if data is available .

Example-A1

9

2.2 Energy Audit report

Chapter ContentsCHAPTER 4

EE proposals

• Technical description• Estimation of CAPEX, OPEX• Calculation of energy savings and other resource savings• Calculation of GHG emissions reduction• Financial savings

CHAPTER 5

Proposals for processimprovement

• Possibilities for improvement in the processes that can result to:• Process optimization• Raw material savings• Increase in quality of production• Modernization of production procedures• Improvement of regular operation and management

CHAPTER 6

Financial analysis

▪ Assumptions (tariffs, discount rate etc)▪ Lifecycle costs per measure▪ Cash-flow analysis▪ Extraction of financial indicators (IRR and NPV)▪ Risk-sensitivity analysis

CHAPTER 7

Conclusions

▪ Key findings report▪ Proposal of financially viable improvements▪ Follow up- action plan

Annexes - Measurement data- Technical calculation data sheets- Financial analysis flow sheets etc.

10

2.3 Minimum criteria for an audit

Demand Addressing

Be based on up-to-date, measured,traceable operational data on energyconsumption

• Methodology for systematic collection of primaryinformation.

• Targeted measurements for the acquisition ofintegrated and reliable data needed for energy balances

Comprise a detailed review of theenergy consumption profile ofbuildings or groups of buildings,industrial operations or installations,including transportation

• Analysis at discrete Energy Cost Centres to be definedat early stage.

Build, whenever possible, on life-cyclecost analysis (LCCA) instead of SimplePayback Periods (SPP)

• Analytical approach and calculation of O&M costs of eachaction

• Tools for financial viability analysis

• Risk and sensitivity analysis .

Be proportionate, and sufficientlyrepresentative to permit the drawingof a reliable picture of overall energyperformance and the reliableidentification of the most significantopportunities for improvement.

• Transparent criteria for selection of targeted objects

• Determine relationship of energy vs critical parameters(production etc), interactive effects

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2.4 Good practices-analysis

Detailed- Allocation of energy use

Detailed - Correlation of energy with critical parameters

Representative periods

Representative – appropriate baseline consumption

2.5 Good practices-justificationDetailed: Benchmarking

13

Measured: Justification of need-scope

34.6°C

139.4°CSP01

SP02

SP03

SP04

SP05SP06

SP07

SP08

SP09

SP10

EE proposals:

1. Clear and analytical, with technical evidence

Example-A2

37oC

34-37oC

20-25oC

28oC

28-32oC

38oC

Direct Heat Exchange

HEAT PUMP

T40 A/B

To Heat Pumpe

Raw waste water

14

2.6 Good practices-measures

4. Financial analysis :based on LCCA

Example-A3

Example-A4

5. Assess Risks: conduct Sensitivity analysis

14

3. Put focus on processes2. Target on no/low cost measures

15

Low payback measures

16

3.1 Examples of BATs

Measure Energy savingpotential until

2030

Integrated control systems 17.3%

Sub-metering 13.8%

Flue gas monitoring (boilers-furnaces) 8.3%

High Efficiency burners (furnaces) 8.1%

Flue gas heat recovery 5%

Combustion optimisation (furnace) 3.8%

Steam trap optimisation 1.9%

Preventive furnace maintenance 1.6%Source: ICF, 2015 [3]

16

Sources of waste heat

17

Area Waste heat source Utilisation

Boilers Flue gas EconomisersPreheat combustion air

Boilers BlowdownCondensate

Preheat boiler feedwater

Refrigeration Waste heat from Condenser

High grade heat from de-superheaterLow-grade heat recovery from condenser

Ventilation systems

Exhaust air Heat wheelRun-around coil Heat pipesHeat pumps

Industrial processes

Heating at industrial processes Drying Heat stored in productsetc.

Low temperature waste heat High temperature waste heat

RESULTS

Heat use before=22772 MWh/yHeat used after = 9678 MWh/yGas savings = 261885 EUR/y

CAPEX: = 500,000 EURAuxiliaries: = 125,000 EUR

Simple Payback = 2.4 years

Example: HR in ventilation in agribusiness

3.2 Example: Heat recovery

17

Concept: adiabatic evaporative pre-cooling system- Cooling the incoming air without increasing its humidity ratio- Sprays fine water mist to cool intake air- Instant evaporation without touching the condenser - Intake air reduces between 10-20°C through this process- Increased efficiency (>20%) and cooling capacity- Minimal water consumption

18

RESULTS

Energy use before = 1,210 MWh/yEnergy used after = 995 MWh/ySavings = 18,000 EUR/yEnergy Savings: = 18% or 56 kWh/tn

CAPEX: = 36,000 EURSimple Payback = 2 years

3.3 Example: Smart Cooling

18

Example: Adiabatic Cooling in pharmaceutical industry (TRANE RTAC 200 HE)

Source: Smart Cooling

3.4 Example: Ice Storage

Concept: adiabatic evaporative pre-cooling system- Ice-making mode: Stores heat during nighttime by using off-peak electricity- Ice-melting mode: Produces chilled water during daytime replacing chiller's output- Viable when used with multiple tariff

RESULTS

Energy use before = 1,399 MWh/yEnergy used after = 761 MWh/ySavings = 19,263 EUR/y

CAPEX: = 87,000 EUR

Simple Payback = 4.5 years

19

Source: Calmac

Example: Ice Storage in chocolate manufacturing industry

0

200

400

600

800

1,000

1,200

1,400

Po

wer

Dem

and

, kW

Cooling Design Day - Energy Demand Profile

Period tariff

(€/kWh)

Demand

(kW)

Chiller Use for

Cooling

(kW)

Ice Storage

System

Discarge

(contribution)

Charging

Power

(kW)

Storage

System Mode

Charge/Discharge

(%)

1:00 0.088 466 466 0 253 Charging 19%

2:00 0.088 466 466 0 253 Charging 33%

3:00 0.088 453 453 0 253 Charging 46%

4:00 0.088 426 426 0 253 Charging 60%

5:00 0.088 453 453 0 253 Charging 73%

6:00 0.088 453 453 0 253 Charging 87%

7:00 0.088 480 480 0 253 Charging 100%

8:00 0.099 520 520 0 0 StandBy 100%

9:00 0.099 546 546 0 0 StandBy 100%

10:00 0.099 626 626 0 0 StandBy 100%

11:00 0.099 813 813 0 0 StandBy 100%

12:00 0.099 959 879 80 0 Discharging 96%

13:00 0.099 1066 879 187 0 Discharging 87%

14:00 0.099 1146 879 266 0 Discharging 75%

15:00 0.099 1199 879 320 0 Discharging 60%

16:00 0.099 1239 879 360 0 Discharging 43%

17:00 0.099 1199 879 320 0 Discharging 28%

18:00 0.099 1159 879 280 0 Discharging 15%

19:00 0.099 1052 879 173 0 Discharging 7%

20:00 0.099 919 879 40 0 Discharging 5%

21:00 0.099 733 733 0 0 StandBy 5%

22:00 0.099 653 653 0 0 StandBy 5%

23:00 0.099 546 546 0 0 StandBy 5%

0:00 0.088 493 493 0 253 Charging 5%

3.5 Example: Insulation

20

Surface heat losses: must be < 2% of heat input at maximum boiler capacityCan reach 10% if insulation is in poor condition

RESULTS

Savings > 5% of thermalenergy useCAPEX: <0.1 EUR/kWh savedPayback: < 1 year

20

3.6 EE measures key results

21

3.7 EE measures key results

22

3.7 Energy maturity sequence

23

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4. International experience

25

Source: Ricardo, Article 8 of EED; challenges for

large enterprises, 2016

4.1 Energy audits in EU-key facts

Size of obliged companies

25

Number of obliged companies

Independent non SME

a) have more than 250 employees ORb) less than 250 employees but annual turnover exceeds 50 MEUR and balance sheet exceeds 43 MEUR

Exemption Companies that implement certifiedsystems for energy and environmental management, certified by an independent body

- 26

4.2 Scope of work-example

Category Α΄: Residential, office and commercial buildings up to 2000 m2, and workshops with installed power capacity not exceeding 22 kWe or 50 kWth

Category Β΄: Office and commercial buildings over 2000 m2, other tertiary sector buildings, industrial installations with total installed capacity less than 1000 kW.

Category C΄: Industrial installations with total installed capacity above 1000 kW

Categories of audits (and certification levels for auditors)

26

Representativeness

Source: Ricardo, Article 8 of EED; challenges for large enterprises, 2016

De minimis

4.3 Identified-implemented energy savings

Source: Ricardo, 2018

27

Realized energy savings (D)Identified energy savings

Source: https://deep.eefig.eu/viewcharts/industry/

4.4 ISO 50001

28

Main elements

Energy Management is a systematic approach to the continuous setting, implementation and monitoring of energyperformance of a company/organization, aiming to reduce energy consumption, along with assuring thesustainability of results in the long-term..!!!ISO 50001: ISO standard that specifies requirements for establishing, implementing, maintaining and improving an energy management system.

Aim of energy management

Production

Ene

rgy

cons

umpt

ion

Energy consumptionwithout energymanagement

Energy consumptionwith energymanagement

Key area Main issues

Policy Energy management policy statement

Planning Significant energy systems identified and reviewed Measurable energy objectives and targets set Programme with responsibilities and time frame defined

Implementation and operation

Roles and responsibilities: Energy manager/energy team with job description appointed Training and Awareness: personnel associated with energy are familiar with EE and EM programme Communication: Information on energy performance communicated to employees Documentation and control of documents Operational control: instructions on equipment operation, consideration of EE in procurement of equipment and services

Checking-Monitoring

Energy use and costs being monitored and reported Progress against plan being monitored Control of records-non conformity assessment Internal audit regularly performed

Review Effectiveness of EMS reviewed by top management

Energy policy

Energy planning

Implementation & operation

Checking

Monitoring, measurement and analysis

Nonconformities, correction, corrective

and preventive action

Internal audits of EnMS

Management review

Continual improvement

Energy planning-legal

-energy Review-energy Baseline

-EnPI's-objectives, targets, action plans

-communications Plan-training Plan- set-up EMIS

Implementation & operation

-competency, training & awareness

-communications-documentation

-operational Control-design

-procurement

Checking-monitoring,

measurement & analysis-legal & other requirements-internal audit

-non-conformities-control of records

EnMS systemEnergy PolicyISO Standard

EnMS Manual & Procedures

Management review- inputs

- outputs

System Diagram, including the ISO 50001 Standard elements

M & T

Plan-Do-Check-Act Model

4.5 ISO 50001

29

4.6 ISO 50001

30

Target setting

SN Phase Responsible Approval Implementation timing

1. Programming of energy audit Energy Manager General Management

From the start of the EM plan and every 3 years or

when there is process/equipment

replacement

2. Implementation of energy audit

Supervision: O&M Manager

(if implemented internally then energy audit is also under the

O&M)

From the start of the EM plan and every 3 years or

when there is process/equipment

replacement

3.Definition of significant energy

uses (SEUs) and Energy Performance indicators (EnPIs)

Ο&Μ Manager Energy Manager After every energy audit

4.Definition of Objectives, Targets

και Action PlansEnergy Manager / EM

Unit General Management

After every energy audit and after every Management

Review

5.Filing and maintaining of energy

audits, methods and criteria used

H&S Manager After every energy audit

4.7 EMS- success stories

31

Paper industry 20,000 tons/y paper products; 2MEuro energyInstallation of complete EnMS system & introduction of new metering equipmentCAPEX: 151,000 EurSavings: 7%Simple payback: 1 y

Danish Malting Group ISO 50001Optimisation of facilities for heat production 43 % reduction in electricityconsumption and 30 % in heat consumption forthe period 1997-2014

Item Cost (EURO)

Computer 3,000

Software and configuration 15,000

Data logger (64 input) 12,000

32 electricity meters 19,000

Installation 14,000

Wiring 23,000 Total electrical monitoring 86,000

16 steam meters 80,000

Installation 23,000

Wirign connections 12,000

8 gas meters 9,000

Installation 6,000

Wiring connection 6,000

4 water meters 6,000

Installation 6,000

Wiring connection 3,000 Total additional monitoring 151,000

Source : Danish Energy Agency

Source: P. Waide, European Experience with

energy management, 2017

4.8 Implementation of ISO 50001

Source: EC , 2016

32

• Quality: requirement for minimum criteria should prevail over cost-effectiveness

• Added value: lead to actions or are tools for compliance??

• Availability of support actions

o Experience on energy audit programmes in industry show that if ran in isolation, have limited impacts

o Benefits are multiplied if combined with complementary measures

o Need: incentive and support schemes, including SMEs, for the implementation of recommendations from energy audits and similar measures

4.9 Key issues

Source: A study in energy efficiency in enterprises, EC, DNV, 2016

Source: Dept of Business Energy and Industrial Strategy, UK, 2017

33

• Provision of incentives: financing EE measures

• Minimisation of risks: Certification of EE projects including project development and QA (eg ICP Europe)

• Mandatory energy performance targets?

4.10 Maximising impacts

Source;

https://www.erc.go.ke/index.php?option=com_content&view=arti

cle&id=249:public-notice-the-energy-energy-management-

regulations-2012&catid=108&Itemid=700

KENYA

THE ENERGY (ENERGY MANAGEMENT) REGULATIONS, 2012Energy conservation measures.8. (1) The owner or occupier shall take measures to realize at least fifty percent of the identified andrecommended energy savings specified in the energy investment plan by the end of three years andthereafter at every audit reporting date.

Source: UNIDO, 2018

34

Example: Instruments in Denmark

LDK Consultants

o Established in 1968 in Athens, Greece

o Comprising 6 companies (including subsidiaries

in Romania, Belgium, Cyprus, Serbia & Kenya)

o 80 employees

o Fields of expertise: Energy, Environment and

Water,Buildings & Infrastructure, Socio-economic

Development

o Average revenues: 13m €

o Assignments in more than 70 countries world-

wide

o Largest Integrated Consulting &

Engineering Services Company in Greece,

with 85% of revenues generated internationally

o κε το 1968 στην Αθήνα/ 6 εταιρείες (με γραφεία

σε Κύπρο, Ρουμανία, Βουλγαρία, Σερβία, Βέλγιο,

Κένυα)

o 105 Μόνιμοι εργαζόμενοι & Συνεργάτες

o Πυλώνες Εξειδίκευσης: Ενέργεια / Περιβάλλον &

Υδάτινοι πόροι Κτίρια & Υποδομές Κοινωνικό-

Οικονομική ανάπτυξη

Σελίδα 35

SN Project Country Period

1 Energy Audits at Hellenc Brewery Greece 4-6/2018

2 Energy Audits at FAMAR pharmaceutical company Greece 4-6/2018

3 Resource Efficiency audit at Enzym Yeast plant Ukraine 9-11/2017

4 Energy Audit at JORMAG magnesia plant Jordan 5-8/2017

5 Energy Audit at grain facilities in Tunisia Tunisia 5-8/2017

6 Energy audit at 2 sugar plants in Kyrgyz republic Kyrgyzstan 5-7/2017

7 Energy audits at 5 buildings (schools/kindergartens/hospitals) in Yerevan

Armenia 9-12/2016

8 Energy audits at 5 buildings (schools/kindergartens/hospitals) in Chisinau

Moldova 9-12/2016

9 Energy Audits at 7 sites of Coca Cola Hellas as per EN16247 standards

Greece 4-12/2016

10Energy Audits at UKPF poultry complex Kazakhstan

11/2015-1/2016

11 Energy Audits at the buildings of Nokia Hellas (4 buildings)

Greece9/2015-11/2015

12Energy Audit at Zernoff Group (Agribusiness) Moldova

8/2015-10/2015

13Energy Audit at Khask (adhesive tapes) Ukraine

7/2015-9/2015

14Energy Audit at Rustavi Azot Georgia

4/2015-7/2015

15Energy Audits at BMI and KMN copper plants Azerbaijan

3/2015-6/2015

35

Off 21, Thivaidos st.

Gr-145 64, Kifissia, Athens

T: +30 210 8196700

E: savvas@ldk.gr

W: www.ldk.gr

THANK YOU!!!

A1. Summary sheet

37

BACK

A2.Data sheetsProject No PI-1A

Biogas generation-separation

SN AREA UNIT VALUE COMMENT

Assumptions

a Electricity tariff Eur/MWh 93.3 Assumed green tariff

b Gas tariff EUR/Nm3 0.46 Average 2015

c Gas tariff EUR/MWh 62.49 Average 2015

d LPG LHV MJ/Nm326.477 assumed

e Green Tariff EURO/MWh 127

f Present

g Gas consumption boiler Nm3/y 43,915 baseline assumed

h Gas consumption boiler MWh/y 323 g x d /3.6/1000

i Boiler efficiency (current) % 95% assumed present

j Heat demand MWh/y 307 h x i

k Gas costs €/y 20,184 b x g /1000

l Electricity consumption MWh/y 1,271 total plant's consumption

m Electricity Costs EUR/y 118,607 a x l

n Income

o Electrical capacity MW 0.347

p Electrical capacity (own) MW 0.151 costs included in O&M

q electrical efficiency % 38% average of all units

r Heat efficiency % 42% average of all units

s Heat Capacity MWth 0.38 o x r / q

t Fuel input MW 0.99 o/ q

u Operation h/y 8,760 see analysis

v Thermal energy UF % 43%

w Power generation MWh/y 3,040 o x u

x Income from electricity sale Euro/y 283,606 a x w

y Biogas kWh/y 8,684,914

z Generated heat MWh/y 1,445 u x s

A Saved gas MWh/y 1,445

B Saved gas Euro/y 90,282 A x b /1000

C Nitrogen fertilizer Euro/y 22,690 see analysis

D P2O5-fertilizer Euro/y 47,994 see analysis

E K2O-fertilizer Euro/y 8,265 see analysis

F Liquid fertiliser Euro/y 188,856

G Total income from fertilisers Euro/y 267,805 assumed 0 as baseline

H Total income Euro/y 641,693

I Expenses

J Gas needed for CHP Nm3/y 0 NA

K Gas for CHP costs Euro/y 0 NA

L Electricity costs Euro/y 24,928 10% parasitic consumption

M Personnel costs Euro/y 40,000 2 employees

N Maintenance of installations Euro/y 290,225 mechanical + CHP

O Total expenses -355,153

P Investment Cost

Q Specific cost Eur/kWe 8,287

R Investment EURO 2,875,418 see analysis

S GHG emissions reduction

T Emission factor-electricity tCO2/MWhe 0.521 source: EBRD

U Emission factor-gas tCO2/MWh fuel 0.202 source: EC

V CO2 emissions reduction tCO2/y 1,584 w x T + U x zBACK 38

Project No yyyy-5

Replacement of lamps with energy efficient

SN AREA UNIT VALUE COMMENT

Assumptions

a Electricity Tariff UAH/kWh 1.4670 Tariff for 2017

b Electricity Tariff EUR/kWh 0.049

c Present

d Electrical capacity lamps kW 66.0

e Average operating time h/y 7,300 Caclulated

f Electricity consumption kWh/y 482,004 calculated

g Electricity Costs EUR/y 23,570 b x f

h After

i New capacity (LED ) kW 30.6 with LED

j Average operating time h/y 7,300 year round operation

k Electricity consumption kWh/y 223,643 Caclulated

l Electricity Costs EUR/y 10,936 k x b

m Savings

n Energy Savings MWh/y 258 f - k

o Energy Cost Savings EUR/y 12,634 n x b

p % of savings % 53.6% based on capacities

q Reduction in O&M costs EUR/y 3,190 divided in yearly units

r Total Cost savings EUR/y 15,824

s Investment Cost

t Investment EUR 46,090 see calculations

u GHG emissions reduction

v Emission factor-electricity tCO2/MWhe 0.896 source: EBRD

w CO2 emissions reduction tCO2/y 231.5 v x n

Project No yyyy-3

Optimisation of refrigerators

Key Input data Results

Cost/

Description Unit Benefit Description Unit Value

Saved electricity EUR 5,195 Net Present Value (NPV) EUR 71,992

Saved fuel EUR 28,506 Pay-Back Period years 4.3

Total Energy Saving EUR 33,701 Benefit Cost Ratio (BCR) 1.4

Water savings EUR 0 Internal Rate of Return (IRR) % 17.33%

Investment Cost EUR 160,000

Reduction in O&M costs EUR -3,200

Aditional Income from increased sales EUR 0

Inflation % 0%

Project Lifetime years 15

Tax Rate % 0

Discount Rate % 10%

Discounted Cash Flow Calculations (yearly) [ in EURO]

Operation Period 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Operation Year 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

Benefits from Energy Savings 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701 33,701

Water savings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Additional Income from increased sales 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Reduction in O&M costs -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200 -3,200

Gross Profit 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501

Investment costs -160,000

Net Cash Flow -160,000 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501 30,501

Discounted Cash Flow -160,000 27,728 25,207 22,916 20,833 18,939 17,217 15,652 14,229 12,935 11,759 10,690 9,719 8,835 8,032 7,302

A3.Financial analysis

BACK

39

A4. Sensitivity analysis

BACK

40

41

References

41

1. DEEP-De-risking energy efficiency platform; https://deep.eefig.eu/factsheet/quick/#2. European Industrial Energy Efficiency Good practices platform; http://www.eumerci-portal.eu/web/guest/home3. Concerted actions, European Energy Efficiency Directive; https://www.ca-eed.eu/Expert-areas/Expert-Areas/Energy-audits-and-

management-systems4. Reference documents under the IPPC Directive and the IED; http://eippcb.jrc.ec.europa.eu/reference/5. RICARDO Development of recommendations on the implementation of certain aspects of Article 8 and Annex VI of the Energy

Efficiency Directive , 2018; https://ec.europa.eu/energy/sites/ener/files/final_report_-_development_of_guidelines_and_recommendations_on_the_impl.pdf

6. Waide, European Experience With Energy Management , 20177. European Commission, A Study on Energy Efficiency in Enterprises: Energy Audits and Energy Management Systems; 2016;

https://ec.europa.eu/energy/sites/ener/files/documents/EED-Art8-Implementation-Study_Task12_Report_FINAL-approved.pdf8. REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL;2017;

https://ec.europa.eu/info/sites/info/files/171011-ssm-review-report_en.pdf9. JRC; Energy Consumption and Energy Efficiency Trends in the EU-28 2000-2015; 2018;

http://publications.jrc.ec.europa.eu/repository/bitstream/JRC110326/efficiency_trends_2017__final_lr.pdf10. EVALUATION OF THE ENERGY SAVINGS OPPORTUNITY SCHEME, Impact evaluation scoping report , 2017;

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/650881/Evaluation_of_ESOS_Impact_evaluation_scoping_report.pdf.

11. Energy Efficiency Trends and Policies In Industry , ODYSEE-MURE;2015; http://www.odyssee-mure.eu/publications/br/energy-efficiency-trends-policies-industry.pdf

12. ICF, STUDY ON ENERGY EFFICIENCY AND ENERGY SAVING POTENTIAL IN INDUSTRY AND ON POSSIBLE POLICY MECHANISMS, 2015, https://ec.europa.eu/energy/sites/ener/files/documents/151201%20DG%20ENER%20Industrial%20EE%20study%20-%20final%20report_clean_stc.pdf

13. G. Kukushkina, Indirect adiabatic cooling, 2011, https://www.theseus.fi/bitstream/handle/10024/32531/Kukushkina_Galina.pdf?sequence=1

14. Investors Confidence Project, http://europe.eeperformance.org/15. M. Matteini, L. Barbier, Requirements of EED Article 8 and implementation experiences and challenges from different countries,

UNIDO, 2018, http://www.economy.ge/uploads/files/2017/reitingebi/samrecvelo_energoefeqturoba/2_1_eu_eed_article_8.pdf16. DEA, Energy Policy Toolkit on Energy Efficiency in Industries, Experiences from Denmark, 2015;

https://ens.dk/sites/ens.dk/files/Globalcooperation/ee_in_industries_toolkit.pdf17. DTU, Best Practices and Case Studies for Industrial Energy Efficiency Improvement; 2016; http://www.unepdtu.org/-

/media/Sites/energyefficiencycentre/Publications/C2E2%20Publications/Best-Practises-for-Industrial-EE_web.ashx?la=da