Data plays a key role for making sound choices when it comes to making decisions leading to improved energy efficiency, better energy management and security. The energy world is changing rapidly, and some experts claim that there will be as much transformation in the next eight years as there has been in the last 25. The main drivers behind these changes are decarbonization of the environment and technological advancements (including advanced analytics).
Data and Data Analytics
Thanks to the boom in the technology; industrial development is now driven by higher-performance and faster data processing; the energy system has been digitized. Installing smart sub-metering devices at the grid's edge and at the asset level increases the volume of data being captured, stored, and processed. Sub-meters provide a pool of powerful data which decision-makers can use to bring about better-informed decisions to improve building efficiency.
Better energy management through a change of behaviour
Property owners, managers, and landlords are responsible for their building’s utility consumption. With sub-meters providing precise information about individual energy consumption, they can avoid the unfair allocation of energy costs through measurement of personal unit consumption. Sub-meters also help tenants understand how their behaviour drives energy costs and motivates change in their consumption behaviour. This often results in less energy consumption and considerably more energy savings.
Green buildings and decarbonization
By increasing the share of low-carbon energy sources, we can achieve gradual decarbonization of the power sector. Canada has committed to reducing its carbon pollution by 30% by 2030 and becoming carbon neutral by 2050. This commitment aligns with the IPCC (Intergovernmental Panel Climate Change) report that states that global emissions must be brought to zero by the year 2050 to keep climate change in control. The first step in achieving sustainability is improving energy efficiency in buildings and controlling energy costs while reducing their carbon footprint. Greener properties start with sub-meters, lawmakers, and building owners to support the increased focus on building greener properties.
The benefits of data analytics for energy conservation
Building owners, managers, and engineers are always striving to optimize equipment, reduce costs, keep tenants happy and promote sustainability. To reach these goals, they need to keep their finger on the building’s pulse, which can be done with the right meters and the right software platform. Proper data evaluation result in substantial potential savings.
Data analytics allow building owners and managers to:
- Better estimate energy savings
- Offer appropriate demand management programs
- Improve payment and billing options
- Effectively target energy efficiency programs
- Prevent energy theft
- Prevent customer churn
Sub-metering technologies are the facilitator of energy efficiency as they provide valuable data about energy consumption. They promote better management of building’s energy consumption and enable the consumers to act in ways that will result in a reduction of energy usage and costs.