The energy management industry has been growing steadily for the past decade and it has been reported that the global energy management software market alone is expected to experience compound annual growth of 10% over the next 4 years.
Investors are taking note as are both the public and private sectors. In a recent article, Energy Manager Today consulted 11 experts in the energy management field to determine what they felt would be the biggest catalysts to continued growth in the industry for 2019. According to the experts polled, consensus is that energy management will be real time, making it easier for stakeholders to identify waste, change behavior and reduce consumption.
The availability of real time data to provide immediate insight into energy use will continue to be a key trend for 2019. Investors are seeing that energy efficiency is the cheapest and cleanest resource which offers massive potential. According to industry leaders, the trend is moving towards a new economy where investments in energy efficiency are on par with investments in other energy resources.
To realize the full potential of energy efficiency, there will be an increasing demand for tools to measure, understand and guide management decisions. For both private and public entities that are embarking on green building projects, such as Net Zero, Carbon Zero and renewable projects, it is paramount to measure and manage energy consumption in real time in order to meet project targets. With a greater demand for entities to monitor and target consumer usage such as peak demand, new innovative sensor and submetering technologies, real time data, and AI or machine learning will assist in measurement and verification for optimal efficiencies.
New technologies and IoT devices will drive more advanced solutions geared toward asset optimization, especially in the commercial real estate space. As quoted in the article by Chris Happ, CEO of Goby, “Ultimately, real-time information and market transparency should allow organizations to trigger consumption, usage, and storage based on predictive analytics from their enterprise data platform.” There will be a growing demand for submetering devices to provide real time data at both the enterprise and equipment level in order to provide simple actionable energy reporting for continuous facility and equipment optimization. CircuitMeter calls this Forensic Energy Management™ and expects to see continued momentum building for real estate and facility management professionals to adopt this approach which features real time circuit level energy auditing as the backbone of the system.
Human resources will be required, more than ever, to evaluate, adopt and verify the effectiveness of new technologies to assist with behavioural changes that lead to climate action. There will continue to be a growing demand for energy managers and specialists that can assess the value of various energy monitoring platforms and speed up the adoption of those state of the art energy management information systems (EMIS).
CircuitMeter is in an ideal spot to leverage its state of the art submetering plus real time energy analytics to capture the growing demand for responsive energy management tools to support more effective decision making and reporting in 2019 and beyond.
For full article please visit: Experts Predict the Future of Energy Management.