European countries could save an estimated €67.4 billion (£59.5bn) if they captured and reused surplus energy.

That’s according to a new report by global engineering firm Danfoss which suggests in the EU alone, excess heat amounts to 2,860TWh a year, almost the same as the EU’s total energy demand for heat and hot water in residential and service sector buildings.

The authors of the study note that much of this excess heat could be used again as heat recovery technologies exist making use of excess heat from industries, wastewater facilities, data centres and commercial buildings.

The research suggests reusing excess heat will lower costs for consumers as it is cheaper to reuse energy than to buy or produce it.

It says the wasted energy can even stabilise the future electricity grid as it can replace significant amounts of electricity or gas that are otherwise needed to produce heat.

Article source: https://www.energylivenews.com/2023/02/24/using-wasted-energy-could-save-europe-67bn-in-costs/