Energy and Money Saved by High-Efficiency Motor Installation
How much energy and money are saved by using the high-efficiency motor, and what is the calculated payback period?
The given information includes: Standard motor power: 60 hp Standard motor efficiency: 89.0% High-efficiency motor efficiency: 93.2% Operating hours per year: 3500 hours Unit cost of electricity: $0.08 per kWh Standard motor cost: $4520 High-efficiency motor cost: $5160
Energy and Money Saved:
To calculate energy saved, we first find the energy consumption of both motors: Energy consumed by standard motor = (Power / Efficiency) × Operating hours = (60 hp / 0.89) × 3500 hours Energy consumed by high-efficiency motor = (Power / Efficiency) × Operating hours = (60 hp / 0.932) × 3500 hours The energy saved is the difference between these two values. To find the cost saved, we multiply the energy saved by the unit cost of electricity.
Payback Period:
The payback period is the time it takes for the cost savings to equal the price difference between the two motors: Initial cost difference = High-efficiency motor cost - Standard motor cost Annual savings = Energy saved × Unit cost of electricity Payback period = Initial cost difference / Annual savings
Energy Saved: By installing the high-efficiency motor, you can save a significant amount of energy compared to using a standard motor. The difference in energy consumption between the two motors will result in reduced electricity usage and cost savings over time.
Money Saved: In addition to energy savings, installing the high-efficiency motor will also lead to cost savings. By multiplying the energy saved by the unit cost of electricity, you can determine the actual amount of money saved by using the high-efficiency motor.
Payback Period: The payback period is a crucial factor to consider when investing in a high-efficiency motor. It shows the amount of time it will take for the cost savings from using the high-efficiency motor to offset the initial price difference between the two motors. By calculating the payback period, you can determine the financial benefits of upgrading to a more efficient motor in the long run.
Overall, investing in a high-efficiency motor can result in substantial energy and cost savings over time, making it a wise choice for businesses and organizations looking to reduce their electricity usage and expenses.