ENERGY IS NOT A FIXED COST This article was originally posted on Ecova. By Alison Liaboe Energy has historically been viewed as a fixed cost. However, by analyzing your energy data, whether from a utility bill or metering, you can identify opportunities for savings and manage energy cost. Energy cost and consumption data is the key to effective energy and sustainability management. To make energy data work for a company or its customers, you must first determine how this information will be used or distributed to both internal and external stakeholders. For example, a company may need to identify where energy is being wasted to make site specific investments, identify where energy consumption can be reduced to meet a budget requirement, or develop more sustainable methods for the production of goods or daily business activities. These needs may stem from consumer or internal expectations. Ecova believes that both bill data and real-time metered data, when properly utilized, can play an important role in helping companies become more energy efficient and sustainable. Letâ€™s talk a little bit about the differences between utility bill data and real-time metered data. Utility bill data is pulled from information that is reported on what has already occurred, such as electric, gas or water invoices. This data does not represent a companyâ€™s current energy usage, but rather past usage as captured on your invoice. For many companies, this data is useful for identifying how much energy is consumed at a site level, at what rate it is purchased, and other metrics that tell them how they are operating at the site, such as load. Utility bill data can support financial planning, identify outlier sites, rate reduction opportunities, and demand performance concerns. Metered data may be better described as real-time or live data, due to the fact that it reports energy consumption information in more frequent intervals, typically occurring every 15 minutes. With this visibility to streaming utility data, companies can instantly see how much energy each piece of equipment or store or office is using. This allows them to make necessary adjustments in operational processes or address a failing piece of equipment, all while avoiding excess costs before they escalate to larger financial and operational concerns. Through our new partnership with Lucid, you now have integrated real-time meter data with comprehensive expense, rate, tariff and usage data and a holistic, analytical dashboard tool for facilities, finance, and sustainability teams. You can view a recent webinar to learn more about the value of both expense and real-time data. Or if youâ€™d like to see a demo of our partnered solution with Lucid, click here to submit a request
Published on Apr 14, 2014
Published on Apr 14, 2014
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