Energy savings with a VFD is a variable torque load (pump or fan) can be significant due to pump laws. IE cut speed by 1/2 cuts power by cube function or 1/8.
My first experience was a 30 hp 480V motor for a pump pressure maintaining system extra pressure was recircirculated back to the supply tank. Power bill was $1500 a month dropped to $300 with the VFD. Got a $20,000 grant for that project, and the energy saving paid for the $40,000 cost pretty quickly.
That was 20 years ago and we are just now going to replace the VFD. Maintains pressure right on, flows vary from nothing to 600 GPM, (its a two pump system), but still works great.