In 2021 alone, over 750 billion dollars were pledged to worldwide decarbonization initiatives, with more than half going toward renewable energy projects. Additionally, about $1 trillion has been put into climate-tech and energy-transition businesses in the past year.

Organizations must manage their energy assets to the fullest extent possible as the amount of money invested in energy-efficient operations and usage rises.

Read More: Energy Asset Management Software

Let’s take a moment to define energy asset management before delving into the instruments that will provide that return on investment.

Energy Asset Management: What is it?

The act of keeping an eye on and overseeing an organization’s locations, buildings, and—more especially—the energy assets they depend on is known as energy asset management.

This guarantees the proper operation of various locations and assets, primarily concentrating on energy costs and performance.

To make sure these sites and assets stay within the intended bounds, you may also specify performance thresholds and set up alerts for activity that exceed them.

What advantages does Energy Asset Management offer?

There are several advantages to energy asset management that businesses should consider carefully.

Energy asset management is essential to identify areas for optimization, identify possible faults, and rank the most problematic locations rather than doing a site-by-site assessment. This goes beyond efficiency and conservation.

Purchasing a high-quality energy asset management system can:

Assist in monitoring and lowering carbon emissions

Cut down on waste and the use of fuel

Determine fuel theft

Provide insights, organizing, and visualization of the data.

Dashboards for tracking locations, assets, and energy-related KPIs

Organizations and countries have started making large promises to minimize their carbon footprints as a result of growing awareness of and concern about it.

Learning how and where to use energy resources that produce greenhouse gases (GHGs) and, in their place, energy storage or renewable energy assets, is a critical first step in achieving this. In order to maintain focus while working toward energy and climate-efficient operations, your company might benefit from having a well-organized climate action plan.

Solutions for energy asset management are essential to that shift and the goal of “climate neutral” operations. What are some of the instruments required for effectively managing your energy resources and activities, and how do they fit into an effective energy management system?

What equipment is necessary for efficient management of my energy assets?

Accessibility to Resources

Visibility is one of the most common issues that facility managers, particularly those in charge of networks of locations, deal with. The only way to identify a problem in the absence of a defined method for monitoring the functioning of every website and asset in your portfolio is if anything breaks down entirely.

Setting priorities is essential since, in the event that your network of sites is large, it may be nearly hard to swiftly access these troublesome locations.

Solutions for energy asset management give you comprehensive insight over your physical infrastructure, along with a real-time map overlay and interface for asset display.

By looking for outlier events or use in the live and historical data stream, you may also see trends and possible problems.

Warnings

It takes more than just visibility to make sure your assets and facilities are performing as they should. Having a tool to determine performance criteria according to your resources and consumption is the next step.

These criteria may then be connected to alarms so that, in the event of a malfunction or theft, management can take fast action. It will be more harder to identify and mitigate abnormalities without these threshold-tied notifications.

Alerts would save operational expenses for companies by removing the need for recurring on-site visits, which would have involved travel and technician fees. By doing this, you may prevent future malfunctions, breakdowns, or complete outages and avoid having to pay for unnecessary replacements and maintenance.

Performance-related insights

It’s time to examine that data and see what insights you can get from it now that you are keeping a close check on your assets and have the ability to receive real-time alerts about any problems.

As we previously discussed, several energy asset management systems offer data organization, visualization, and performance insights for assets and locations.

These data-driven insights are essential for determining which assets require the most replacement or maintenance and where optimization investments are most profitable. The tracking of carbon emissions, their source, and the amount of money saved from resources like renewables are all included in these insights on sustainable methods.

These insights will guarantee that your company’s objectives are met, lessen energy waste and operating expenses, and mitigate and eliminate downtime.

Site and Property Protection

Beyond problems with speed, another concern is site security. Some people will break into locations to steal items like lead-acid and other backup batteries, no matter where you live in the world.

Websites need to be more than simply optimized and visible; businesses also need to be alert and responsive when something goes wrong. Energy asset management systems may be integrated with on-site sensors to provide warnings specific to certain assets.

Trackers that are incorporated into the production of some energy assets, such as batteries, can be utilized to give authorities and organizations a precise position for the asset or assets so that they can be successfully retrieved.

To make sure that gasoline supplies are not used up (stolen) more quickly than anticipated, fuel sensors can also be fitted.

Actual battery condition

When it comes to batteries, the data we can extract from their usage can provide valuable insights into how well your facilities are operating. For any facility or distant location, generators are frequently the main backup source. They run on fuel and provide light when the grid or other energy resources are down.

But security isn’t the only thing batteries require. You may monitor a number of metrics to find out how assets other than your energy storage are interacting.

For instance, backup batteries may be provided on-site, but in the event of an outage, a generator would be used rather than the backup batteries. Because of setup problems, batteries may deplete more quickly than anticipated, be uncharged, or even be fully charged but underutilized.

In order to enhance durability and warranty, energy management solutions track parameters such as availability, voltage, and condition of health and charge. This makes it easier to discover these concerns.