Energy management is the proactive coordination of procurement, conversion, distribution, and energy use to meet the demands, taking into account environmental and economic goals.
FREMONT, CA: Efficient energy management is the remedy for the ever-rising energy demand. The total energy consumption of the globe is expected to increase by 48 percent before 2040. Employing an energy management system (EMS) may save up to 29 percent on energy consumption costs. But managing energy smartly isn’t limited to just buildings. It also covers industries like logistics, industrial production, machine maintenance, the energy procurement itself. Read on to know more.
Energy management is the need of the hour. There are plenty of reasons attached to the scene. Using an EMS may bring up to 29 percent savings on total energy consumption costs. But even a small measure, if taken, like replacing old CFL bulbs with more energy-efficient LED lights, can mitigate the lighting energy consumption by more than 50 percent, given that it is leveraged for a long period. Though energy is just transformed from one form to another, it is still susceptible to its scarcity. As per a study, energy consumption is expected to grow by 48 percent by 2040. If not taken adequate steps, a quick surge in energy demand may cause energy scarcity.
Even the energy got from renewable sources has significant overhead costs and capital costs attached to them. So this factor also requires to be considered. A balance between demand vs. supply is vital to manage the cost of any commodity. And this goes with power too. The fluctuations in power prices will also impact the prices of electrical appliances. So, proper energy management will ensure the affordability of energy and its appliances in present times and for the future.
Keeping the cost savings aside, it is becoming obligatory for sectors to abide by regulatory bodies' energy compliance. An energy management system is an automation-based system that comprises energy data gathering tools and a display system to efficiently analyze the energy consumption for advantages.