Companies are rapidly integrating energy management software and other solutions into their operations to reduce their carbon footprint—to optimize resource use, evaluate and analyze the environmental impact, and be able to take corrective action.
FREMONT, CA: In numerous industries, such as healthcare, retail, manufacturing, energy, and logistics, the Internet of Things (IoT) drives process automation and operational efficiency. Consumers, businesses, and even governments are paying close attention to IoT applications in the energy industry. IoT energy management systems, in addition to multiple benefits to the electric power supply chain, pave the path for future smarter grids that offer tremendous savings, higher security, and increased efficiency.
Iot-Based Smart Energy Management
Here are some examples of what IoT technology may accomplish:
Reduce Energy Spending
One of the main reasons organizations and governments are looking into the capabilities of IoT for energy efficiency is for economic reasons. Smart metering, real-time power usage monitoring, and data-driven predictions assist everyone in the supply chain better control spending and investment while also reducing waste.
Better Comply with Regulations
Companies not only use IoT to manage energy in their daily operations, but they also employ analytics tools to see how they are complying with current environmental standards. Modern SaaS platforms provide analytics tools that reveal if clients are eligible for industry certifications, incentives, and programs.
Cut Operational Expenses
The combination of automation, streamlined worker effort, and effective asset management results in a significant reduction in operational costs. It is anticipated that using sophisticated analytics software alone will save 90 percent of the time and effort spent on energy analysis, reporting, and computation.
Minimize Carbon Emission
The energy sector has undergone significant transformations to comply with new rules aimed at lowering emissions. Companies are rapidly integrating energy management software and other solutions into their operations to reduce their carbon footprint—to optimize resource use, evaluate and analyze the environmental impact, and be able to take corrective action.
Utilities, power distributors, and producers invest in modernization so that they can do more than just smart energy management with the IoT. They restructured their processes to increase automation and reduce personnel effort and costs. Producers, for example, can automate costly on-site asset management and optimize maintenance operations by using IoT-based monitoring systems. Utilities use power consumption data to automate dynamic pricing calculations.