What is the impact of power on profitability? The volatility of the energy market in recent years has made the simple act of powering enterprise a focal point on many businesses’ balance sheets.
Global energy market trends make it reasonable to expect continued energy price increases. Together with changing regulations in response to climate change, energy efficiency should be high on the agenda of every business owner.
The power of data to start making smart changes
The environmental and commercial pressure to establish more efficient operations means it is time to get smarter about energy. IoT smart technologies are giving business owners the tools they need to implement intelligent changes for energy efficiency into the future.
Smart energy monitoring solutions collect and report on data for individual assets, whole-building environments, and multi-site locations. Monitoring energy consumption in real time means usage can be understood at a granular level. This supports the identification of inefficiencies and provides actionable insights for meaningful change.
Benefits of smart energy monitoring include improved efficiencies, reduced carbon footprint, and lower energy costs. In the immediate term, business owners and managers are given the tools for better control around peak usage and data insights on consumption.
In the long term, these data insights give businesses resilience during times of volatility and change and the tools for long-term strategy, forecasting, and prediction. Together with additional smart building solutions, smart technologies create opportunities for automated operations.
Indeed, if smart buildings and smart cities are to be hallmarks of the future, the shift to smart technologies is an investment in businesses of tomorrow.
The creation of a digital twin of energy portfolios creates a low-risk platform upon which to monitor usage and gauge the effect of changes – today and into the future. It also serves to provide insights on the suitability of alternative, renewable power sources and will be a powerful tool in guiding any changes in this regard.
It’s time to throw your energy into efficiency
The power of data to drive meaningful change presents exciting opportunities for businesses. From affecting your bottom line to improving your environmental profile, smart energy monitoring is a fit for small businesses and large corporates and industry in equal measure.
Matthew Margetts is a Director at Smarter Technologies. His background includes working for blue-chip companies such as AppNexus, AOL/ Verizon, and Microsoft in the UK, Far East and Australia.