Today, when the energy demand is escalating at a rapid pace alongside our technological advancements, the need for efficient energy management is more critical than ever.
As per the reports suggested by the US Energy Information Administration (EIA), the world’s total energy consumption is expected to increase by 48% by 2040. But on the positive side, solutions like an energy management system in a building that aims to make efficient use of the energy sources efficiently may end up saving up to 29% of energy consumption costs. So, we can say efficient energy usage is the solution to this world’s ever-increasing demand for energy.
Often misunderstood as the simple act of switching off unused appliances and gadgets, energy management is much more than that. It has a wider role to play in many business areas like Industrial Production, Logistics, Machine Maintenance, Energy Procurement Processes, and even in our personal lives.
According to Verein Deutscher Ingenieure (VDI), an organization with over 150,000 scientists and engineers, defines energy management as
Energy management is the proactive, systematic, and coordinated process of procurement, conversion, distribution, and use of energy to meet energy requirements effectively, taking into account the environmental and economic objectives.
In simple words, it can also be expressed as the process involving optimization of energy use for the best possible use outcomes and taking into account the steps for its conversation. It includes planning related to the production of energy and storage for future usage in large buildings, industrial facilities, and even smaller units. Ultimately, the process aims to save costs with devices like smart meter devices, solar panels, etc, and achieve complete environmental sustainability at the same time.
By now, we already know that energy management is the need of the hour and how it aims to conserve energy, ultimately leading into cost savings. But wait, here are a few more valuable reasons to add to the same –
First and foremost, it saves costs. Small measures like replacing old CFL bulbs with LED lights can result in reduced power consumption by more than 50% over an extended period of time. It can help prevent energy scarcity in the future, given the ever-increasing demand for energy – a sudden surge in energy demand may cause energy scarcity in the future.
A significant chunk of the world’s total electricity demand is fulfilled by power generated by coal, and the burning of coal and other fossil fuels releases gases like CO2, CH4, CO, etc, posing the threat of global warming and climate change.
In addition to that, it also helps maintain the energy demand and supply balance to control the rising prices of energy and electrical appliances. Along with helping to meet statutory compliance regulations issued by governments and regulatory agencies, proper energy management initiatives can also help save water at hydroelectric power facilities.
An energy management or monitoring system is basically an automation-enabled system that consists of energy data monitoring tools, meter data management system setups, and display devices to monitor and analyze energy consumption data for desired benefits while solving the problem of unaccounted energy bills.
Energy management involves several key components-
Energy Audits – This a involves meticulous evaluation of current energy use, finding inefficiencies, and pinpointing opportunities for enhancement. It serves as the foundational step towards understanding and optimizing energy consumption.
Implementation of Efficiency Measures –
This is all about action—taking concrete steps to improve energy efficiency. It encompasses a range of strategies, from updating outdated energy meter equipment and refining operational processes to adapting to new energy-efficient technologies and enhancing insulation.
Monitoring and Analysis –
Continuous monitoring and analytical assessment of energy data involves regular analysis of energy usage patterns to identify trends, successes, and areas needing further attention, ensuring the energy management strategy remains focused and effective.
Continuous Improvement –
The dynamic nature of energy management necessitates adopting an ongoing evaluation and refinement of existing processes and strategies. With this, entities can adapt to new challenges, technologies, and opportunities, ensuring long-term sustainability and efficiency in their energy management systems.
Training & Awareness –
Through education, in-depth training, and motivation, employees and end users can be educated to adopt smaller yet effective practices that contribute to energy savings, thus enhancing the collective impact of energy management initiatives.
Energy management is essential for organizations seeking to reduce their energy consumption and plays a critical role in achieving sustainability goals and contributing to a greener, more efficient future.
Let’s discuss some industries that can particularly benefit from effective energy management –
Read More – Comprehensive Guide to Net Energy Metering: Definition, How it Works, and Benefits
With growing concerns over the environment and energy consumption, minimizing carbon footprints has become a priority for organizations across all industries. Optimizing energy consumption, managing your energy resources, and tracking power consumption can help you determine your actual requirements and make the right decisions in this regard.
To that end, organizations and governments would need feature-packed smart energy meter devices and setups to collect and monitor energy consumption. These devices play a crucial role in minimizing energy consumption, thus helping to achieve sustainable environmental goals and enabling a secure future for all.
We, Genus, specialize in manufacturing and supplying state-of-the-art, technologically advanced smart meter devices to mid to large-scale enterprises, organizations, and government agencies. Having worked with organizations across various industries, including manufacturing, residential, etc., we are successfully enabling efficient energy management across countries.