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The emergence of IoT technology is the most meaningful revolution in the ever-evolving energy management process. Growing trends towards green energy, carbon footprint management, government regulations and policies are the eminent factors augmenting market developments. Till now, high IoT project deployment costs and non-standardized guidelines were stopping enterprises from adopting IoT technology.
IoT powered Smart Energy Management Systems helps energy distributors in lowering their operational costs and management for peak demands. These systems are essential for companies whose energy supply is regulated and managed by special contracts.
Facilitating energy efficiency
Smart building energy management systems driven by IoT technology go beyond most of the conventional building management systems that oversee and control the power sourced systems of a building like the lighting, air ventilation, HVAC, elevators, and more. On the other hand, the IoT driven energy management systems utilise IoT sensors to assemble, analyze, and convert the energy data into information which can be referred to in the future to make intelligent business decisions to improve energy optimization.
Time efficiency for utility providers
While the initial investment in IoT powered energy management systems may seem exorbitant at first, the return on investment (ROI) is lucrative. The real-time field data help providers in elevating their operational efficiency by reducing the human labour requirement for energy management tasks. The energy management software automates an array of different manual processes which require a number of man-hours.
Time consuming functions such as meter readings and power generation/distribution are regulated by the system, mitigating the need for manual work and guaranteeing accurate, real-time readings.
Lowers energy costs
With IoT powered Energy Management System, users attain a holistic view of every element of energy consumption. The energy consumption data, accrued over a sustained period of time, helps enterprises in identifying consumption patterns and trends. They can analyze which areas have the highest/lowest energy levels and how to optimize it.
Sustainable approach
IoT technology helps utility providers as well as enterprises in optimizing their renewable energy production. This goes on to help in reducing the likelihood of carbon emissions even further. It is a win-win situation for the enterprises since they go on to lower their energy cost while maintaining a strong Social Corporate Responsibility (CSR) profile.
Investing in contemporary smart energy IoT initiatives is an idea of potential which even results in positive ROI. The way the global community is aiming to make all operations efficient and to contribute to sustainability, it seems that the IoT adoption is going to be the norm. Businesses across the globe are seeking opportunities to adopt IoT to make their operations better, and you still have a chance to be one of the early adopters and hold the competitive advantage. Brands like #SchneiderElectricIndia are driving the IoT revolution on a global scale.
