Energy efficiency is a big issue that climate-conscious people and business owners who want to reduce operational costs discuss. Ever since energy monitoring tools have emerged, they have been in the news a lot as they are capable of solving many energy efficiency-related issues.
In this case study, we’ll find how energy monitoring has changed different sectors and how it has helped organization to become more sustainable by optimizing their energy utilization.
The Problem: Rising Energy Costs and Environmental Impact
Many industries are facing high energy consumption that increases their operating expenses. These industries include mainly manufacturing, logistics, and commercial services.
High energy consumption is a major operating expense for many industries, mainly manufacturing, logistics, and commercial services.
The more energy is wasted, the more businesses suffer due to the high energy cost. Carbon emissions will also harm the environment.
Even many businesses are unable to understand their energy consumption patterns. Due to this, they are unable to identify where energy wastage is occurring. Now, if they don’t know where energy wastage is going on, how will they start energy-saving measures?
These challenges collectively made it harder for businesses to keep continuing with the industrial regulations and achieve global sustainability targets.
Furthermore, the global energy landscape is shifting, with significant energy efficiency policies expected to improve energy intensity. For example, the NDCs announced at COP26 and other steps to deal with the energy problem are expected to lower the world’s energy consumption by 2.4% annually from 2021 to 2030.
Even though this is faster than the average rate i.e. 1.8%, seen over the last ten years (2010–2020). It is still less than the annual growth needed which is 3.4% to meet the SDG 7.3 goal for 2030.
The Solution: Implementing an IoT-Based Energy Monitoring System
IoT energy monitoring systems prove to be very helpful in solving these problems. These systems provide real-time information about how much energy different areas, tools, or processes are using. They help businesses to know about their energy usage patterns. Besides, these software Use devices, data analytics, and cloud-based tools to explain how they use energy.
For example, a leading manufacturing business facing high energy costs set up an energy tracking system driven by the Internet of Things. This system let them see how much energy they were using in real-time. They can find where their energy is getting wasted and make decisions based on data to lower their energy usage.
How do IoT Energy Monitoring Systems transform industries?
- Data-Driven Energy Management
Energy monitoring systems collect real-time data on energy usage at different production points. Based on this data, industries can identify which machinery wastes the most energy. They can identify when irregular energy consumption patterns occur and where there are inefficiencies. Based on this information, businesses implement corrective measures such as upgrading equipment or adjusting operations to optimize energy usage.
Example: A large-scale automotive manufacturing plant reduced its energy consumption by 15% after identifying inefficient processes that consumed excess power during non-peak hours.
- Cost Reduction
Businesses can significantly reduce their energy costs by constantly tracking their energy use. Automatic alerts for unusual energy use let them act quickly. And predictive maintenance cuts down on downtime and avoids expensive fixes. By being cautious, this method reduces wasted energy and makes tools last longer.
Example: A logistics company puts energy tracking systems in all its warehouses. By better managing its lights and HVAC systems, the company cut its energy costs by 20%.
- Enabling Sustainability and Compliance
As environmental laws become stricter, businesses need to reduce their carbon footprint. IoT Energy monitoring systems help businesses track their energy usage. And provide reports on pollution generated, which helps them meet environmental standards. This openness is a must for standards like ISO 50001 and for companies to meet their environmental goals.
Example: A business that processes food cut its CO2 emissions by 12% after using data from energy tracking to improve the performance of its heating and cooling systems.
The efforts around the world to solve the energy problem demonstrate the need for energy tracking. In growing Asia, for example, energy usage is expected to rise by a huge 3.4% per year between 2020 and 2030. This shows how data-driven energy management is helping regions become more sustainable quickly.
- Predictive Analytics and Future Planning
Advanced energy monitoring system use predictive analytics to predict how much energy will be needed in the future by analyzing past data and current trends. This information helps businesses to optimize their energy usage plans and switch to green energy sources when they can. It also helps with long-term sustainability planning, which helps businesses align with global efforts like net-zero pollution goals.
Example: A chemical production plant utilized predictive analytics to transition 30% of its energy usage to solar power, achieving substantial cost savings while reducing its environmental impact.
The NZE (Net Zero Emissions) scenario outlines an even more ambitious course of action, which applies to the world.It not only satisfies the Sustainable Development Goal 7 targets but also exceeds them. The goal is to achieve a 4.3% yearly improvement in energy intensity by 2030. Industries such as electric cars, industrial efficiency, and building electrification are expected to contribute significantly to this development. Energy monitoring systems can maximize all of these areas.
The Results: A Sustainable and Cost-Efficient Future
Energy monitoring systems have transformed the industry by giving businesses tremendous visibility into their energy consumption. With its help, businesses can reduce their costs and adopt sustainable practices. Every business that has adopted the system reports significant energy savings, improved operational efficiency, and enhanced compliance with environmental regulations.
Thoughts
One of the most powerful aspects of energy monitoring is its capacity to combine operational efficiency and environmental responsibility.
Internet of Things (IoT)- based energy monitoring systems provide a clear path toward attaining these goals, which are becoming increasingly important as enterprises face increasing pressure to decrease their environmental footprint and manage rising energy costs.
If your business is looking forward to improving its sustainability initiatives along with reducing energy costs, it’s time to explore the benefits of an IoT-powered energy monitoring system. With Thingsup IoT energy monitoring system, discover how to transform your operations and position your business for a greener, more efficient future.
