Economics of Energy Conservation in the Chemical and Petrochemical Industries

Abstract

Capital allocated to energy savings projects competes with that for new or revised plants. Thus, it must show the same or better rate of return. Usually the risk factor in energy savings projects is less than allocations for other uses. The categories of energy consumption on a chemical or petrochemical plant are defined. Distillation is often the largest energy consumer, hence, offering the most promising area for investigation of energy savings. Other unit operations and well as changes in process operations are explored for potential energy savings. The use of cogeneration as a method for net energy savings is explored and appears to be most promising, especislly where it is possible to upgrade the value of waste heat or combustible by-products in the process plant to produce steam and electrical energy which can be utilized or sold to others. A formal energy audit of process plants is suggested utilizing for engineering, operating as well as management personnel.