As electricity prices rise, organizations must invest in new technology to cut costs and reduce energy consumption. This is where real-time utility monitoring comes in. These solutions track and analyze power usage, carbon emissions and other key indicators to help you make smarter decisions about your buildings’ energy management. Here are the top benefits of using an energy-monitoring system:
Detect Anomalies Instantly
A significant amount of waste is caused by distribution faults, meter errors, tampering and theft every year. With features like two-way communication and automation, real-time utility monitoring allows for immediate action to be taken to mitigate losses as much as possible. For example, a single instance of abnormal water usage detected by a smart water meter can save millions of litres and thousands of dollars in cost and damage.
Identify Peak Hours and Days
Real-time data from an energy tracking system can show the power usage patterns of different equipment in a building, allowing facility managers to identify and take advantage of time-sensitive energy rates offered by their energy providers. This can lead to significant savings over the lifetime of a device or equipment.
An equipment monitoring system helps Utilities to optimize the performance of their devices which in turn decreases the energy consumption rate and increases the return on investment. Moreover, if combined with unsupervised machine learning algorithms, real-time tracking can “learn” the access behavior of remote machinery and equipment to predict when it’s most likely to be stolen or breached, allowing Utilities to launch more powerful deterrence strategies to protect their assets. real-time utility monitoring