The 5 Benefits of Predictive Energy Management

 

Predictive energy management is a proactive process of identifying and mitigating energy waste. The rapid increase in energy costs is forcing businesses and enterprises to look for smarter ways to manage energy. The government, in order to reduce the carbon footprints, is raising the bar for complying with energy standards. An effective and smart energy management system, along with predictive analytics, is an ideal solution to address these challenges along with radical changes in monitoring and managing energy consumption.

The need for energy management is becoming a critical focus area for modern energy service providers and end customers. All are looking out for ways to minimize energy consumption without compromising on comfort and other considerations. A smart energy management system helps optimizing energy consumption for heating, air conditioning, ventilation, lighting, refrigeration, security systems, etc.

Benefits of Predictive Energy Management System

·        Asset Efficiency Analysis: Real-time collection and analysis of data helps in calculating the asset efficiency as well as in determining the cost implications of non-optimal performance of devices. One can also calculate the cost implication of maintaining energy devices with the help of predictive analysis.

·       Root Cause Analysis: In the case of high energy consumption, it enables the data to help in determining and validating the hypothesis from root cause analysis.

·        Carbon Emission Analytics: It helps in determining the overall carbon emissions from commercial buildings.

·        Warranty Lifetime Analysis: Predictive analytics helps in determining the optimal warranty period and cost of your equipment/device. If you observe that some devices fail at the early stages of the lifecycle, you can avail a longer warranty period to cover these failures.

·        Correction Analysis: It helps in identifying the areas requiring power correction to reduce energy costs. This technique is an ideal choice where power factor correction is required to enable cost savings.

High-level automation helps energy managers in stating the forecast for their energy needs, plan asset maintenance, and in turn, enhance operational efficiency. A smart energy management system reduces the overall carbon footprint of your enterprise and tries to reduce the energy costs by a considerable percentage.

Electro Industries/Gauge Tech is a leading power metering and cloud energy management provider with an extensive range of electro industries products. They are a market leader in power monitoring with an affordable and easy-to-use AC meter. EIG, Electro Industries/Gauge Tech, provides high-performance power quality metering products and cutting-edge software with innovation, reliability, and excellence. 

EIG sets the industry standard for advanced power quality and reporting, revenue metering, and substation data acquisition and control. Their products are found on-site at virtually all of today’s leading manufacturers, industrial giants, and utilities. Visit their website for more information and details about their products and services.