Economic Barriers to the Application of Energy-Efficient Motors in Industry
Keywords:asset management, cost benefit analysis, Decision Making, economic indicatiors, electric motors, Energy Efficiency
In this paper we present a technical, economic and financial feasibility analysis of the replacement a standard-efficiency electric motor (IE1) by a Premium-efficiency electric motor (IE3) in an industrial application. We consider a press used for the production of crude degummed soybean oil and soybean expeller, from an industry in the Province of Cordoba, Argentina. We use a model of the electric motor that drives the press to correctly estimate the load level and the performance of the electric motor currently used. With the data obtained from the model, we analyze the economic and financial feasibility of the motor replacement for the registered operating conditions, with the current energy prices and the associated subsidies. We calculate different indicators for the current scenario and future forecasts. The results show that, in the current context of high interest rates and high subsidies to electric power, economic barriers may exist to the replacement of electric motors by the higher efficiency class. However, the analysis with future scenarios of lower subsidies for electric power and / or lower interest rates on financial income can cause these barriers to be removed.