Missouri University of Science and Technology has been working with steel foundries since 2004 to analyze their energy consumption and to improve the energy efficiency during the melting of steel. This paper reviews the energy efficiency of steel foundries in the United States. A survey was completed among members of the Steel Founders' Society of America to collect energy efficiency profiles in 2012, and the results were compared with data in 2004 to benchmark the improvement. This paper then presents two spreadsheet models to evaluate current foundry operations. The first model evaluates energy losses in ladle operations and was validated using the results of previous laboratory and industrial trials. The second model allows optimization of the melting energy efficiency in an induction furnace. This model can by utilized by foundries to forecast electrical energy consumption for melting steel considering variables such as operating schedule, initial lining temperature, furnace covers and the effects of operating delays.