Top 10 benefits of smart energy management using IoT

Buildings account for 40% of global energy consumption and 33% of greenhouse gas (GHG) emissions. Optimal and sustainable utilization of energy is crucial. Fortunately, the rise of IoT technology is making this vision possible. It is the most significant revolution in the ever-emerging energy management process. The global energy management systems market is expected to grow from an estimated USD 38.6 billion in 2022 to USD 75.0 billion by 2027, at a CAGR of 14.2% during the forecast period.

Empowering energy efficiency with IoT-based energy management solutions

IoT applications in the energy sector make way for smarter grids, deliver unprecedented energy savings, ensure improved security, and enhance energy efficiency up to a great extent. Smart energy management systems driven by IoT technology go way ahead of traditional building management systems. They precisely monitor and control the power source systems of a building, including lighting, air ventilation, HVAC, elevators, and more.

Here are the top 10 benefits of this smart technology:

1. Reduce energy consumption

One of the major benefits of IoT-based solutions for energy management is the overall reduction of energy spending in buildings. It comes with smart metering, real-time power usage monitoring, and data-driven predictions that eliminate energy waste in buildings.

2. Minimize carbon emission in buildings

There have been tremendous changes in the energy sector. Facilities are making generous efforts to reduce carbon emissions in buildings. IoT-powered energy management solutions in building operations decrease the carbon footprint up to a great extent. At the same time, it optimizes resource utilization, measures environmental impact, and builds future-oriented strategies focused on net zero goals.

3. No more unnecessary energy bills

Buildings need to adopt a strategic and comprehensive approach to reduce energy costs. By leveraging IoT powered energy management system, enterprises can have a holistic view of overall energy consumption in a building. Based on this data, enterprises can uncover the pattern and can analyze which locations have the highest/lowest energy bills and how to optimize them. Facility managers can even plan for better demand response (DR) strategy on a daily basis and leverage the seasonal trends in energy prices. In this way, energy bills can be reduced up to a great extent.

4. Ensure green energy goals

Both downstream and upstream professionals are realizing the importance of green energy motives. They are taking steps to ensure these goals. With energy monitoring sensors, performance and power consumption data, and utilities, facility managers can maximize the use of renewables in their services and adopt energy conservation strategies accordingly.

5. Optimize asset maintenance

The Internet of Things offers massive advantages to the energy industry. This connected technology comes with sensors, data, and analytics that can efficiently monitor the performance of power plants and distribution networks. Optimizing asset maintenance becomes smart with IoT technology.

6. Save manly hours for utility providers

The initial cost of energy management systems may be high, but the return on investment (ROI) is rapid. It helps utility providers to improve their operational efficiency by reducing the man hours required for energy management tasks. It automates the manual processes by a significant number of man-hours.

These systems automate time-consuming jobs such as meter readings and power generation/distribution that eliminate manual work and ensure accurate, real-time readings.

7. Predict energy consumption patterns

The advanced IoT technology and machine learning algorithms help in predicting energy consumption in the future. It allows energy companies to prepare a data-driven strategy for energy production and improve their demand-based pricing models. Ensuring energy savings becomes possible with IoT data and machine intelligence.

8. Ensures predictive maintenance of equipment

IoT-based energy management systems also help identify possible issues in operations even before they take place and implement preventive actions before they turn big. It ultimately saves energy consumption and prevents power overloads.

9. Effectively address equipment downtime

Frequent building equipment breakdown can disrupt everyday operations and damage complex machinery. Smart analytics systems minimize damage and resolve these issues. It helps facility managers to locate a problem, find out the root cause of damage, and formulate a successful equipment repair plan.

10. Cut down operational expense of facilities

The operational expense depends on automation, an optimized workforce, and effective asset maintenance. IoT-based energy management solution reduces 90% of time and effort spent on energy analysis, reporting, and calculation.

Tap these benefits of energy management with Zenatix IoT technology

With the growing energy consumption globally, the implementation of advanced technologies become necessary. Take the help of Zenatix’s powerful IoT-based energy management systems and make an effective utilization of energy in your facility.