Energy management is “the strategy of adjusting and optimizing energy, using systems and procedures so as to reduce energy requirements per unit of output while holding constant or reducing total costs of producing the output from these systems.”
Increasing awareness of global pollution levels, human impact on the environment, and energy efficiency has contributed to the steady growth of the global energy management systems market. Statistics compiled by Transparency Market Research (TMR) show:
- Estimated revenue during the forecast period of 2015- 2023 is US$36 billion at 13.4% Compound Annual Growth Rate.
- Commercial buildings in North America alone have a 40% annual energy consumption share.
- The iron and steel sectors make up 20% to 25% of energy consumption in total production cost.
- Implementing energy management in commercial structures in the US is worth US $40 billion.
Regions such as North America and Europe, as well as emerging economies like India and China are looking toward energy solutions and energy sustainability. With governments across the world passing several regulations, introducing policies, and offering incentives for industries, the following benefits of an efficient energy management system far outweigh initial costs, and can improve building management and control.
Lower Operating Costs and Higher Accessibility
Utilities are increasingly working with tech companies to convert innovative products into smart and real-time energy resources. For example, AEP Ohio had teamed up with Powerley’s home energy management solution to provide greater energy control for its 1.5 million customers through different mobile, wearable, and home tech devices. Similar collaborations for commercial buildings can spur genius innovation of new technologies, also reducing operating costs and improving accessibility, which would yield greater savings and better building control.
Reduced Carbon Emissions
For the first time in 40 years, electric power plants in the U.S. recorded a 5 percent reduction in carbon emissions. According to the U.S. Department of Energy, this is due to investment in energy-efficient technology, an industrial shift from coal to natural gas, as well as adoption of renewable energy sources like wind and solar. Helping the environment is always a healthy practice, as it also ultimately helps reduce long-term maintenance costs.
Increased Safety and Security
Since the Great East Japan Earthquake of 2011, Japan’s Ministry of Economy, Trade and Industry has invested in secure energy measures. The Kyocera Corporation’s plan to explore a new phase of virtual power plant (VPP) testing boosts these measures through remote management of energy supplies, renewable power generation of facilities, and integrating distributed power resources. By using an energy management system, the VPP functions as a safe and reliable source of energy for consumers. Initiatives like these can help your buildings as well, and BCS can help determine whether your operations could benefit from making such changes.
Greater Efficiency and Management
Companies experiencing power disturbances such as lightning strikes, voltage sags, and harmonics benefit from an efficient energy management system. With traditional rotating generators being replaced by more innovative energy technology, Commercial and Industrial (C&I) sectors, utilities, and government agencies are looking for diagnostic and monitoring tools to create and manage efficient energy solutions.
For more information on energy management options and how BCS can customize solutions for your company’s energy needs to operate buildings safely, comfortably, and efficiently, please contact us to learn more.