07-10-2014, 01:32 PM
Abstracts: Now a day, where industries are fighting to improve their bottom line because of higher competition due to globalization as well as uncertainties and recession in some sectors, their dire need is cost reduction, where in energy cost provides a very good potential for cost reduction. Hence, the industry will go for quality audits, which results in to lowering their energy bills but at competitive charges. Under the above circumstances, Energy Conservation emerges as the most viable alternative source of energy. It is a cheap method of saving the energy for productive purposes. Investment needed to save one unit of energy is considerably less than that to generate one unit, as utilization of one unit requires generation of 1.25 units or more looking to overall efficiency. The present work is to find out various types of losses of mechanical equipment which occur at an industry. For the objective of energy efficient performance of that equipment, the work is to find method which will help an industry to conserve the energy by improving the efficiency of that equipment. The work will also provide appropriate and feasible suggestions or recommendation with financial benefits and also apply the financial techniques like payback period, NPV, IRR etc.