In a recent survey conducted by Panoramic Power, we discovered that many companies have commendable energy management goals, but their current ability to optimize their energy consumption, improve operational efficiencies, and achieve sustainability objectives may be lagging behind their admirable intentions.
Facility, operational and energy leaders from enterprises throughout the world participated in our study. Industries included:
We found that 76.9% of survey respondents claim that they have historical understanding of their energy consumption from last year and 69.2% state that they have future goals for reducing energy usage in the coming year.
In fact, even 69% say that they have a specific strategy in place for reducing energy consumption and improving sustainability. All of this is great news. We have seen retailers and other enterprises with such dedication to sustainability enhance their success exponentially.
However, one of the elements that sets successful companies apart is that their sustainability initiatives are not just plans. Best-in-class companies have access to detailed information about their energy consumption. It is the access to granular data that gives them the edge.
In our survey, when we asked how energy data is obtained, we learned that an astonishing 77% of respondents get at least some of their information from their monthly utility bills.
While it is encouraging to see that some companies are starting to rely on more intelligent sources, we believe that monthly utility bills should be used by bookkeepers for bill paying and reconciling purposes. They should not be relied upon by Energy Managers, Facility Managers, or anyone with a stake in the company’s sustainability efforts.
Energy data should come, in real time, at the device level - monitoring, measuring, and reporting each device’s power consumption. Data should be sent to a cloud-based intelligence engine that aggregates and relates information about energy waste, operational efficiency improvements, required maintenance, and other actionable insights.
If your car only reported its mileage, gas consumption, and oil levels with a monthly statement (that is typically delivered 2 weeks after the month ends), can you imagine the inefficiency? How could you optimize maintenance, consume less, and service your car on time?
Obtaining your company’s energy consumption data from a monthly utility bill, or even just on the building or zonal level is insufficient. Turning strategies into real business value requires more. Only when enterprises forego the partial energy data collection and insist on ongoing device level visibility can their sustainability goals become reality.