Cost reduction through energy efficiency measures in the industrial sector
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Date
2003
Authors
Tian Seng, Wong
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Abstract
Competing and succeeding in today's business environment requires clear strategies
for managing the variety of expenses incurred on a daily basis. Improving the energy
efficiency of business organisation offers many cost reduction opportunities, which
could contribute to lower daily operating expenses and hence increase in profit margin
and business competitiveness in the long run.
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This research evaluates the cost reduction options through energy efficiency in the
·industrial sector. The following objectives were developed to better understand: (1)
the knowledge of opportunities and methods to reduce bottom line energy cost; (2) the
level of awareness regarding energy cost management issues; and (3) the barriers &
benefits in implementing energy efficiency programs in the industrial sector. A field
survey was conducted among corporate executives in manufacturing industries in the
Bayan Lepas Free Industrial Zone.
The results of this study show than corporate executives are unaware of the
opportunities to reduce operating costs by efficient use of energy and .. still consider
energy costs a fixed expense. In addition, a percentage of respondents felt they had
little control over energy costs. However most respondents demonstrate an awareness
that they need to do much more to be energy efficient.
The results of this study have succeeded in highlighting energy efficiency as one of
the cost-effective means of saving. It is hoped that further studies will be carried out
in future, as energy efficiency polices & programmes are vital in maintaining our
industrial sector competitiveness in the world market.
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Keywords
Energy efficiency measures , Industrial sector