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Page added on March 30, 2006

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Companies going green with energy alternatives

High cost of fossil fuels sparks efforts to identify savings, new markets

With rising energy prices squeezing profits, corporate managers are looking for alternatives. And there are signs that conservation measures

The potential savings are huge. Industrial use accounts for about a third of energy consumed in the U.S., according to Energy Dept. estimates. And by cutting back on just 20 percent of that consumption, American businesses could save close to $19 billion a year at 2004 energy prices, according to a recent report by the National Association of Manufacturers. About 30 percent of those savings can be achieved with no capital investment, the report said.

Company managers are apparently already looking hard for savings. Last fall, some 30 percent of those surveyed by the Alliance to Save Energy said they had made energy management a critical part of their business plan. A third said that were undertaking major capital projects to cut energy costs. And a quarter said they were at least working on low-cost, one-time fixes to try to cut energy bills.

CNBC



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