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The phrase "a considerable saving" is correct and usable in written English.
You can use it when discussing a significant reduction in cost or expenditure.
Example: "By switching to a more energy-efficient system, the company achieved a considerable saving on its monthly utility bills."
Alternatives: "a significant reduction" or "a substantial saving."
Exact(40)
In the last eight months of 2009, according to Southwest Airlines, 45 percent of callers elected to be called back rather than wait on hold, allowing the airline to save 24.8 million minutes in calls to its toll-free number, a considerable saving.
Elapsed time, five days, a considerable saving.
Returning to Stamford would mean a considerable saving in everyone's accommodations.
Early reporting of a positive PCR result could result in a considerable saving in health resources.
Operating the SCR DeNOx reactor at temperatures below 200 °C results in a considerable saving in operating costs.
Bearing in mind the average cost of council tax in the UK is £1,468, this is a considerable saving.
Similar(20)
That translates into a considerable savings that can be passed along to the beans' buyers.
This results in a considerable savings in computational effort and greatly reduces the amount of information which must be stored.
He added that such construction represented a considerable savings over the steel rails, barrier protections and other expenses of a trolley or other light rail system.
(According to Bromberg, the units should be small enough to fit in two or three skids). And, while large plants need constant attention by on-site maintenance teams, the small system could be monitored remotely again, a considerable savings.
He began by saying that the company is "examining whether it is feasible to locate all editorial staff" on one floor, adding: "This will help us make a considerable savings on the cost of renting floor space in this building".
More suggestions(17)
a serious saving
a great saving
a vast saving
a considerable conservation
a considerable economy
a large saving
a major saving
a big saving
a considerable savings
a considerable cost savings
a substantial saving
a significant saving
a bigger saving
a considerable focus
a huge saving
a considerable reputation
a considerable estate
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com