Energy Analytics has been proven to benefit many different types of industries when attempting to reduce cost and waste more efficiently. Saving energy directly leads to large financial and environmental benefits. Energy Analytics may help you to reduce energy consumption by up to 20%- 30%. Energy Analytics is the new tool which provides industry to increase the potential savings.
Energy Analytics synthesize three distinct but inter-related pieces of information:
- How much energy and power an enterprise uses, and when and where it’s used.
- What an enterprise makes, moves or stores; where it performs this work, when it performs this work, and how this work changes and scales.
- What an enterprise pays, and how it procures, energy and power.
The simplistic approach to energy cost reduction focuses on basic energy efficiency and limited demand reduction techniques and projects. This is usually a good place to start, however complex energy environments working off complicated tariff rate structures require a more sophisticated approach.
Many energy cost reduction efforts fail not because the projects are performed badly, but because they neglect to take into crucial factors:
- Energy use and generation must support the business and scale as business conditions change; and,
- Energy cost reduction is not necessarily directly related to energy usage reduction.
The second point is not always obvious, and often requires explanation. But, depending upon the tariff, reducing load may not save money, and simply shifting load to the wrong time can be expensive. Often, business and operating conditions don’t offer a lot of flexibility, and Energy Analytics can help chart a path.
For any power intensive industry, it is important to have load optimization or else the industry will have to face other problems and huge losses and unwanted losses. Energy Analytics is not just about load optimization but also includes volume maximization which means that once the proper information of energy is received like which asset consumes the most, which time of the day does the plant consumes most of it, the energy can be used optimally, and in the same quantum production can be increased which ultimately leads to profit maximization .
Energy Analytics facilitates innovation. Over the next decade, there are some utility and energy trends for which the industry should prepare such as Customer-centric operations to improve the way they communicate with customers, Customer analytics to understand their customer base and specific markets within service territories. Analytics techniques such as customer profiling will help companies better understand energy usage patterns for specific demographics. This information can influence program strategy, personalized marketing and custom services Increased penetration of distributed, Energy storage to optimize storage capacity to maximize energy charging and discharging opportunities. Ideally, analytics can enlighten utilities on new ways to dynamically handle power flow etc.
The energy and utility industry faces challenges, but it is set for a course that can provide numerous benefits to consumers and industry players alike. Energy Analytics can help facilitate this transition in a smarter and more efficient manner.
Further Energy Analytics helps in providing you a plan for your procurement, gives an idea what sought of healthy loss is beneficial to industry, helps in data findings, problem solving and resolving technical hiccups, giving operational intelligence, helps in energy efficiency, carbon reduction etc and facilitates work integration.
Energy Analytics deals with the sustenance of energy by deploring analytics for energy utility and management.
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