The global total energy consumption is set to increase by 48% by 2040. Statutory requirements for organizations in regards to climate change and greenhouse gas (GHG) emissions are gathering momentum. Consequently, many renewable energy producers are in a challenging situation that needs the deployment of an energy management system.
An energy management system gives more clarity of energy usage and offers reporting capacity for energy usage, ultimately optimizing decision-making.
Whether your motivation is compliance, cost reduction, or other advantages of an energy management system, choosing the right solution can provide noticeable results that help you make data-driven decisions for your business.
Here are seven remarkable advantages of using an energy management system.
1. Reduces Costs
Cost reduction is the biggest reason for using an energy management system. Depending on the industry and the type of system used, a company can reduce its energy costs by up to 20%. QBI Solutions offers clients asset management software with an energy management component that delivers significant cost savings. This reporting and analytics system can synchronize many energy sources in a single platform, further helping reduce overall operational costs.
2. Improves Performance
Renewables are the center of the clean energy transition characterized by the leading role of the power industry. However, this transition can be tricky without a balance of performance and reliability. For enhanced but balanced performance, renewable energy companies need to apply advanced energy management systems.
Increased complexity of assets and a higher number of assets is a wake-up call for operators to switch to digital energy management systems. High performance is more guaranteed when energy management decisions are data-driven than when the company decision-makers often act on a hunch. A modern energy management system can enhance performance by reducing operations and maintenance costs and promoting availability.
3. Monitors Energy
There is an adage in energy management: “You cannot manage what you cannot measure.” This has relevance to energy production in the renewable energy industry. An effective energy management system has a powerful energy monitoring component that makes it easier to understand energy production, identify waste, and target inefficiencies.
Sensors and other digital tools are instrumental in availing multiple data points for generators. It could be anything from humidity to temperature. If applied in decision-making, the monitoring aspect of an energy management system can have a monumental impact.
4. Increases Return on Investment (ROI)
With access to a lot of information regarding energy usage in your facility, you can promptly and easily determine areas that need improvement. Once you pinpoint these areas, you can embark on an energy-saving program. Alongside energy monitoring and continuous improvements, you can almost limitlessly reduce your operating costs and realize a higher return on investment.
5. Enhances Reporting and Billing
Like other operations in businesses, reporting and billing is a constant struggle. A big contributor to this challenge has been the overreliance on manually generated utility bills and reports. As digital-based operations take effect during the current covid-19 pandemic, the push for energy management systems can add value to your reports and utility billing.
Unhandled invoices can hamper your bill cycle. Conventional clearance of bills can be tedious and time-consuming, but this changes with a centralized energy management system. The moment you digitize your reports and invoicing, the more repetitive processes can finally leave your desk. An improved billing cycle can even enhance your relationship with customers and vendors.
6. Makes Analytics Easier
An energy management system offers up-to-date access to data for power devices such as transfer switches, circuit breakers, and meters. For easy analytics in various locations of your plant, data derived from these devices can be instrumental. Some of the systems are cloud-based, giving you access to energy data in real-time.
7. Time for easier everyday plant operation
The QBI platform helps organizations conduct efficient energy management and control. Being web-based, this platform is applicable anywhere anytime. No document will go missing or get destroyed. At QBI Solutions, we provide a customized energy management software platform that is built around business, to help all the different departments in all the stages of the project life cycle.
When you need a tool for managing your renewable assets every day, QBI software is the ideal choice. Give us a call for a demo that will prove that we are a good fit for your energy business.