Motors frequently drive variable loads such as pumps, hydraulic systems and fans. In these applications, motor efficiency is often poor due to operation at low loads.
The operating cost of a motor over its lifetime is many times its purchase
price. For example, a 100 horsepower AC induction motor costs approximately
$5,000, yet will use as much as $35,000 worth of electricity in a year. Small
improvements in efficiency can therefore generate significant savings in energy
costs.
I'm not saying water isn't important, or that windows now in place do not waste energy (they do). And lighting retrofits are not the low-hanging fruit; as I heard Energy Secretary Chu say in person once (to laughter from his audience) -- this is the fruit that's already fallen from the tree, and is lying on the ground; all you have to do is bend over to pick it up!
But ignoring something that accounts for 64% of the power use is just plain dumb. Especially when . . . well, read the 3rd paragraph quoted above!