Optimizing your energy savings program with PredictEnergy®
Businesses are under pressure to reduce energy usage, cost, improve profits, and support sustainability. The traditional approach is to focus on energy efficiency and demand reduction. But, project-by-project that strategy can be scattered and ineffective. Even if the energy savings projects are staged and implemented methodically, an energy savings program needs to be well thought out to be effective. So, what’s the best way to optimize your energy savings program? Predictive energy analytics allows companies to optimize their energy savings program, utilizing their business goals, their energy demand and/or generation, and their tariff. Thereby systematically planning their cost reductions efforts.
Predictive Energy Analytics Methodology
Advanced technology approach determines what actions will create and sustain real long-term energy cost reduction. The approach must consider your power and energy use in today’s environment of convoluted tariff schedules and complex equipment and production processes. Our PredictEnergy® analytics software solution is a progressive and proven method to reduce a facility’s power and energy consumption baseline, reduce energy cost for the production of goods, and increase overall business performance, thus essential to optimizing your energy savings program.
PredictEnergy® Flow Chart for your Energy Savings Program
The baseline is the fundamental key performance indicator of improved energy performance. It is determined through evaluation of energy use, energy cost, and unit production and defined in a data set called the Energy Cube. To improve the baseline, the predictive energy analytics method solves for best energy cost reduction conditions based on running and analyzing a series of case scenarios. Performing a Round Trip evaluation ensures that goals are met and sustained. This is accomplished using a Measurement and Verification (M&V) process which compares ongoing and final program results to predicted energy cost reduction.
Energy, tariff rate and production are combined using the PredictEnergy® analytics engine to determine the best costs savings plan by implementing business process, generation, efficiency or load management changes. The PredictEnergy® Program Optimization process is based on actual energy consumption and patent pending predictive energy analytics comprised of four key features:
- Contrasting Actual Energy Consumption and Demand to your Utility Billings
- Establishment of Energy and Cost Baseline Key Performance Indicators (KPIs)
- Iterative Analysis Best Outcome Predictions for Energy Program Improvements
- Round-trip reconciliation of Actual vs. Predicted Results with new Baseline Values
So, if the cost of energy is important to your business, our PredictEnergy® analytics software can help you prioritize where and how to improve.