The upcoming World Climate Summit in Paris will witness the world’s nation-states debating measures for reducing energy consumption to reduce CO2 levels in the earth’s atmosphere. One good idea they can consider comes from the European Industrial Insulation Foundation (EIIF): Upgrading and improving thermal insulation in industrial installations, which offers a potential for real savings that are not fully appreciated.
EIIF estimates that insulating bare mechanical surfaces to cost-effective levels and repairing damaged insulation across the EU would require an initial investments of about 900 million euros. This one time investment would represent an energy savings potential of about 460 PJ, which at current prices would save industry 3.5 billion euros every year. Payback times for these investments, they say are usually less than twelve months. In other words, you invest once and save every year, while making a dent in the global warming problem. The Foundation publishes fact sheets reviewing the savings from insulation investments in eight of the largest countries in Europe.