Energy Analytics Explained with PredictEnergy™
Many of our clients initially believe that power draw or energy consumption is all there is to energy analytics. The truth is, for energy analytics to be truly useful, it needs to combine energy data with non-energy information. Non-energy information can include units produced, units shipped, unit energy cost, flow, and most importantly, time. Energy analytics then provides actionable intelligence based on your energy intensity and production metrics that can reduce your cost of energy – thereby improving efficiency and profitability.
The most common approach to energy cost reduction is to focus on basic energy efficiency. In other words, to use less energy. Complex energy environments, however, constrained by complicated tariff rate structures require a more sophisticated and analytical approach.
Many energy cost reduction efforts fail because they neglect to consider two crucial factors:
- Energy use and generation must support the business and scale as business conditions change; and,
- Energy cost reduction is not necessarily directly related to energy usage reduction.
Depending upon the tariff, reducing load may not save money. Simply shifting the load to the wrong time can also be expensive. Although business operating conditions may not offer a lot of flexibility, real energy analytics can help chart a path to success.
Energy Analytics Explained Example
HES has performed numerous energy analytics engagements using PredictEnergy™ and some clients have enjoyed total energy cost reductions of up to 20%. PredictEnergy™ analyzes the current environment and identifies potential savings in facility operations, tariffs and technology. This approach enables facilities to energy cost reductions well beyond the typical savings gained by using standard energy efficiency and load reduction techniques.
If you want to identify and improve your cost of energy, PredictEnergy™ will provide visibility and precise control over your energy costs. You’ll utilize near real-time energy data to enhance your ability to operate your facility with greater efficiency and reliability. To learn more about energy analytics explained, please visit the full page here.