At the centre of energy accounting is cost. Granular data on exact energy use and corresponding costs is key.
Enterprise-wide Energy Accounting Made Simple
At the centre of energy accounting is cost. Granular data on exact energy use and corresponding costs is key. Detailed real time circuit level data that CircuitMeter provides allows any enterprise to enhance its energy accounting capabilities and obtain a clear picture of the energy use and cost across all facilities in its portfolio. There are several key reasons why energy accounting should be part of any facility manager’s operations tool kit.
Identification of increased energy costs
One of the great benefits of an energy accounting system is the ability to identify and act upon any significant increases in energy costs from monthly profiles. Real time circuit level monitoring that CircuitMeter offers is a critical component of an effective energy accounting and auditing system. Energy management information systems can identify discrepancies in energy usage from monthly budget amounts and reveal the source of the discrepancy.
Measurement and verification
Measurement and Verification, commonly known as M&V, is the process of using measurement to accurately determine actual savings created within an individual facility by an energy management program. Energy accounting provides detailed analysis that can verify the success of various energy-reduction initiatives. Instead of reporting the overall monthly aggregate energy savings for an entire facility, detailed energy accounting systems such as CircuitMeter’s CircuitMonitoring™ software can measure detailed energy use right down to the specific piece of equipment or individual circuit, and precise time.
Small behavioural changes add up to big savings
Energy accounting has a variety of uses including motivating facility users and occupants to get involved in saving energy and associated costs. Creating incentives and developing ways for facility occupants to track progress is an effective way to engage employees and tenants. Making energy visible in a detailed manner through the use of real time circuit-level data allows stakeholders to see the actual benefit of behavioural changes. Organizations can incentivize these behavioral changes by creating a fund derived from energy costs savings which can be channelled back into various employee or management initiatives. Increased visibility through the use of big data energy accounting such CircuitMonitoring™, provides accounting proof of the direct benefit of small behavioural changes that can add up to big savings.
Forecasting future energy needs
Having the right kind of energy accounting system in place also helps an enterprise looking to forecast future energy energy needs in a dynamic energy market. Circuit level submetering combined with an energy analytics software platform to slice and dice the data will provide any organization with meaningful granular real time and historical data and enhance an organization’s ability to budget for future energy costs with greater accuracy. This can be a significant competitive advantage for any organization.
CircuitMeter’s real time circuit level metering and energy analytics software can make energy accounting simple and manageable and ultimately save your organization money. Identify waste, lower costs, and reduce your carbon footprint with the right energy accounting system.