A significant amount of energy is wasted every year by companies on manufacturing processes, which eventually results in escalating production costs. From inadequately utilized cooling systems and leaky air compressors to faulty equipment, one can blame several factors for this excess consumption.
Whatever the reason may be, one thing cannot be denied. Manufacturing organizations today desperately need a trusted energy management company capable of delivering reliable energy management services to help them accomplish their sustainability goals and protect their bottom line.
This is what motivates us to write this article today which aims to strongly emphasize how important AI-driven solutions are in improving energy efficiency.
But first, let’s understand what energy management solutions actually are.
Introducing Energy Management Solutions
To understand what energy management solutions do, you first need to understand what the concept of energy management entails. Simply put, energy management refers to the process of monitoring, controlling, and conserving energy in a building.
Energy management solutions are devised to serve the above-mentioned purposes for an organization. These solutions typically meter energy consumption and collect data. This data is analyzed to quantify energy waste, after which, corrective actions are suggested to save energy.
It should be clear by now that energy management services are imperative to your organization if you wish to save energy. We would go so far as to claim that energy management is the need of the hour in order to reduce reliance on fossil fuels and reverse the damage we are doing to our planet.
Energy Management Systems Used Today
In a race to achieve their sustainability goals, many businesses today are relying on smart AI-driven energy management systems. These solutions have changed how businesses carry out their day-to-day functions and provided them with a much better way to reduce energy wastage and boost productivity.
Based on ThinkDigits’s own offerings as a leading energy management company, listed below are a few ways in which AI-driven systems are being used today to conserve energy.
AI-driven solutions with predictive analytical capabilities are being deployed to predict energy spikes and forecast production.
Real-time optimizers are being used to monitor asset and equipment efficiency.
Real-time data monitoring to gather insights that can be leveraged to identify the best way to decrease carbon emissions and reduce costs.
Machine learning-based automation that can track cost reduction and sustainability goals by measuring important KPIs pertaining to water, waste, energy, etc.
Deploying software with an energy benchmarking module that compares your building’s energy efficiency with that of your peers.
Putting Energy Management Systems to Use
Energy management systems have an important role to play, and as such, are being used by the manufacturing, energy, and utility industry for a wide range of applications. Following are just a few ways in which energy management systems are being put to use globally today
1. Reducing Operating Costs
One can argue that the main purpose of energy management solutions is to help organizations reduce operations costs while improving their productivity. These solutions are able to accomplish this goal by optimizing the function of energy monitoring and management.
Furthermore, AI-driven solutions, such as those deployed by ThinkDigits, are also helping accomplish this goal by automating the entire energy management process and reducing dependence on manually performed tasks.
2. Energy Data Collection and Storage
Energy management systems are known to collect, analyze and process energy data. This data is then presented to personnel in charge of energy management so they have a better understanding of the state of their equipment and assets.
3. Energy Saving and Environment Protection
Energy management systems can forecast energy demand and consumption of companies by deriving valuable insights, thanks to real-time data monitoring capabilities. This allows companies to considerably reduce energy consumption levels and decimate the emission of pollutants.
4. Improved Fault Handling of Equipment
Energy management systems can easily understand how particular equipment or assets, integral to the day-to-day operations of a business, function. This makes the system also capable of understanding the degree of any defects or faults detected in them.
Upon detection, the system can take corrective action to tackle the fault head-on and restore the equipment to its original operating capacity.