Top 5 Energy Management Challenges Of The Real Estate And Facility Managers

As the population and the preference of living the urban life rises, the overall energy consumption is also significantly rising. Coming to the building sector, energy consumption is estimated to grow by 65% between 2018 to 2050, which means from 91 quadrillions to 139 quadrillions. For the real estate and facility management sector, managing the rising energy demand and sustainability requirements has always been a challenge. It’s highly volatile! On one side, it’s a safe, easy, and stable investment. On another end, it’s risky. Driving energy efficiency has become more crucial than ever!

Taking help of the energy management solutions (EMS) is the only way to stay relevant in the real estate and facility management market. With the rising prevalence of the Internet of Things (IoT), Big Data, and advanced connectivity, many building managers are getting the authority to leverage energy data analytics to cope with energy management challenges. And why not?EMS enables the facility professionals to gain deeper insights into the building’s energy consumption.

In this article, you’ll figure out the top 5 challenges faced by facility management and the real estate sector in driving energy efficiency and how to overcome them with a smart energy management system. Let’s get started!

1. Inefficient sources of reliable data collection

Energy data makes a significant difference in optimizing the current energy consumption in facilities and real estate buildings. Unfortunately, many offices, residential, and industrial buildings are not even close to collecting reliable data regarding energy consumption. They rely on a traditional building management system and meters that gather data manually.

In the end, it proves to be redundant and unproductive as it doesn’t provide any reliable data about energy consumption patterns that just waste money and effort of the facilities.

The optimum solution to this challenge is to deploy IoT based energy management system (EMS). This solution has the ability to automatically collect and consolidate the crucial energy data into a centralized platform. What’s the end result? It increases the access, convenience, and decision ability of the real estate and facility management industry to bring optimum energy consumption outcomes.

2. Unnecessary wastage of energy

Energy wastage is a common challenge faced by all industries today. Real estate and facility management is no exception! What’s the reason behind this? Faulty systems, wrong settings, and poorly maintained equipment! They offer no reliability and efficient energy consumption patterns. Not just this, these faulty equipment can break down anytime, leaving building managers thinking what’s gone wrong? By the time they plan scheduled checks, they have already wasted a lot of unnecessary time, effort, and valuable capital.

It’s far better to adopt smart energy solutions timely. The IoT-based and robust energy management system (EMS) minimizes the chances of manual errors and gathers real-time information on energy consumption in varied sections of the building.

As a result, real estate managers overcome the challenge of unnecessary energy wastage. They can proactively decide on where to invest energy and handle the disruptions that take place within a building. No more unexpected equipment breakdown and energy wastage when building managers ensure IoT-based EMS. After all, it sets energy KPIs for consistent and sustainable results.

3. No plan for energy upgrading projects

At this time, it’s highly crucial for the real estate and facility management sector to have genuine projects that empower the idea of energy efficiency. New-age audiences wanting to buy a building give consideration to this aspect as well.

Many facilities don’t have in-depth energy data to ensure this need. That’s why they end up with unreliable sources of energy consumption. It’s time that they should invest in energy retrofits or upgrade projects that yield a better return on investment (ROI).

A real-time energy management solution can quantify potential savings in a project. At the same time, they can verify the impact of the energy decisions they have made so far. In the end, it allows them to quickly increase the scale of the project they are interested in.

4. Too much time consumption in energy reporting

Facilities managers need to fulfill crucial responsibilities. Reporting of energy usage and patterns comes under that. They are expected to report their initiatives to drive energy efficiency results. It’s no easy task to produce energy reports as it requires data integrity, strong analysis, and a clear benchmark.

There is no need to put in much effort with EMS. It can automatically generate regular energy reports that will improve the productivity of the team. Not just this, they can even customize the energy report and share it with the management to ensure optimized results. This smart technology proves to be highly valuable when the scale of the operations increases.

When building managers align the occupants’ comfort with the policies, it improves their chances of achieving success in the long run.

5. Sudden equipment breakdown

 A proactive maintenance strategy that includes routine and preventive maintenance schedules will help to extend asset lifespan by ensuring servicing is performed when it is due. Preventive maintenance does not have to be difficult or expensive to implement. You won’t have to rely on reactive maintenance if you have a proper plan in place.

A real-time energy management system has the ability to solve the energy challenges

Effective energy management leaves an impact on business. It helps the real estate sector to get facility management contracts by attracting new tenants into the building. EMS simply automates data collection, improves transparency, and provides clear reports that allow building managers to achieve the highest level of energy efficiency and a sustainable future. Connect with Zenatix to fulfill this vision.