5 Benefits of an Energy Monitoring System

An Energy Monitoring System can benefit your business in many ways, from gaining control of your energy usage to being able to optimise the performance of your organisation. Having the ability to monitor your energy consumption can help save you time and money.

Here are the five main benefits of using an Energy Monitoring System.

What is an Energy Monitoring System?

An Energy Monitoring System enables you to monitor energy consumption within your business through the use of software. It can monitor just one room, or an entire building at one time. The software can provide vital information needed to understand how much energy is being used and how much can be saved in the future.

What are the 5 benefits?

1.) Real-time energy data

An intuitive Energy Monitoring System can assess and collect data in real-time, you can let the software gather data efficiently and monitor the usage without having to be on-site. Having access to software that can measure your utilities, from electricity, water and gas means you can see how much is being used at any moment and track this over a period of time. The benefit to this is that you can identify any unnecessary energy usage and increase your energy efficiency.

With real-time energy data, you can identify patterns of abnormal consumption, for example, you would be able to see if the heating or lighting had been left on outside of normal business hours. A real-time alert can be set up to allow immediate action, as opposed to finding out the next day and the heating or lighting being left on overnight, wasting money and energy. Energy monitoring can also detect and flag a water leak which, according to Ofwat if left undetected, could cost a business up to £36,000 a year.

2.) Measure Results

The key to implementing your net-zero strategy relies on your business having the data in place to enable you to make data-driven decisions around efficiency. Using your Energy Monitoring System to establish your baseline usage and having this data at your fingertips, allows you to be transparent with clients, set targets and be in alignment with your net-zero goals.

Many organisations are now required at the board / executive level to report on their energy and sustainability performance. An energy monitoring system can require comparable data for reporting purposes and provide benchmarks on industry best practices. For large organisations with multiple sites, it allows you to rank sites according to performance so you can identify which sites need the most improvement.

3.) Improve Facility Performance

Facility performance is an area a lot of businesses are keen to continually improve as more energy-efficient equipment and processes result in a reduction in energy usage and costs. An energy monitoring system can enhance overall performance, as it can identify potentially faulty equipment and alert the business so that they can take action. Having the ability to turn off equipment and machinery when it’s not needed, or when staff are away from the building, can also improve the lifespan of the equipment.

4.) Reduces Operational Costs

By setting up alerts to notify you of excessive or abnormal consumption can help stop unnecessary costs, because you can amend the problems quickly and efficiently. According to Carbon Trust, for many businesses a 20% cut in energy costs represents the same bottom line benefit as a 5% increase in sales, highlighting the importance of tracking your energy usage. Carbon Trust also states that over 60% of companies are now taking action to reduce energy in their operations. Having an energy monitoring system in place is a valuable tool to help identify any unnecessary costs.

5.) Improve your company’s brand image

With Environmental, Social and Governance (ESG) policies being a highly important talking point for organisations, many are feeling the pressure to not only meet net-zero targets but to showcase this effectively through their brand’s image. For many ESG disclosures, energy data is fundamental for accurate reporting and Energy monitoring systems provide the data clarity and transparency required.

Why is an energy monitoring system important?

With energy prices rising, having an energy monitoring system is important for businesses to be able to track energy consumption, reduce their carbon footprint, save money, and back up their sustainability claims.

Monitoring energy can be a simple process but surprisingly many businesses still don’t have a system in place.

According to Eco Monitor, the latest Business Energy Index (nBEI) shows that nearly one in five (18%) of businesses, didn’t know if they had reduced their energy consumption over the past 12 months.