Explosion in Energy Efficiency Software Market
As the cost of energy continues to increase, it's no surprise that the market for energy efficiency software continues to grow with it. In fact, the market is expected to undergo rapid growth from 2011 and 2012. Verdantix, a respected research organization based in the UK, evaluated a broad cross-section of companies that provide energy management solutions to large, dispersed entities. The research presented leaders in the market and the capabilities that are important to organizations now and in the future. In the report, Verisae was noted as one of the 10 leading providers in the market, with strong energy management capabilities.
Saving energy and cutting costs is a vital strategy for most organizations. These initiatives are tied directly to the survival of companies; they are not merely tied to sustainability goals anymore. Organizations are now looking seriously at controlling energy costs as they know it's imperative for their survival.
An overall approach to sustainability is bolstered by sophisticated initiatives such as the adoption of energy efficiency software. Cost reduction goals can be understood and consumption cut. We know that budgeting and accounting software solutions have been part of the business environment for many a year. We need to broaden that horizon and encompass energy management solutions to help us deal with energy problems, as well.
As margins are tight and competition gets even fiercer, it can be difficult to carve out any growth in terms of sales. Amidst this business climate, organizations need to make sure they trim costs and overheads as much as possible. Companies that specialize in the development of energy efficiency software report considerable and growing interest in their products. Many businesses with a proactive approach to energy management report cost savings of up to 15% can be achieved through active monitoring of consumption and understanding of asset performance.
Utility companies are looking to specialized programs, like demand response, to help them manage the grid and power supply. In turn, they are under pressure to conserve fuel and avoid the high costs and spikes in demand that occur during certain environmental conditions. Demand response may help to ensure that rolling blackouts, that were once so prevalent, are confined to the history books.
In order to be able to take advantage of demand response, especially in consumer facing environments, organizations must be fully aware of their energy footprint. They need to know how much energy their assets consume under all conceivable scenarios. Unless they have this information, they cannot capitalize on demand response program opportunities.
Without energy efficiency software to help organizations monitor, interpret, and understand real energy needs, energy cost savings are merely a dream. There are significant incentives to take part in demand response programs and relevant tariffs, but without access to granular information the savings will be left on the table.
In a retail store environment where consumer satisfaction is absolutely paramount, there may be resistance to any strategy that seeks to conserve energy on the grounds that it might "disturb" the customer. These can be very real fears, but the only way to assuage these doubts is to arm the management team with granular information. A variety of "what if" scenarios can be examined through the management software and the results will ensure that any decisions made are based on a solid foundation of facts and not guesswork.
Questions and Answers
If asset management is not a priority, any plans for expansion can be based on unstable ground. Management is often overlooked however, as executives have too many other "more pressing" issues to content with.
IT has advanced in leaps and bounds, yet it is amazing to consider that many organizations still rely on an outdated spreadsheet when it comes to their asset management.
Don’t wait for the future to come to you, grasp the opportunity to make your business more sustainable today.
GNAX (Global Net Access) is implementing new green energy practices and technologies in an effort to increase energy efficiency.
More often than not, asset management priorities would most likely be at the bottom of priorities at your boardroom meeting. Such priority might not even be on your business agenda at all. Business executives often make the mistake of assigning asset management to systems that are manually done and can be tedious.
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The key reason why some firms thrive while some implode during an financial recession is still a puzzle to many people business-owning business owners. Some wrongly assume that all businesses should suffer via recessionary cycles. But the truth is that some companies are usually essentially recession-proof, and it is not necessarily because they are much larger, better known, or a lot more generously capitalized.
Companies like Arch Coal (ACI) and Massey Energy (MEE) watched his or her stock climbed.
Despite the obvious threats and drawbacks, there exists to this day a deep chasm between the utility provider and the commercial organization on the other. We're all in this together fighting a battle to make sure that we have the energy supply that we need, while avoiding systemic failure and trying to balance the associated costs.
The District of Columbia recently became one of the first government institutions to publicly display its relative level of efficiency. They invested in solutions to help them understand how energy was used throughout their facilities. Energy benchmarking across 200 public buildings was installed with the aim of cutting back on the use of gas, electricity and other fuels, together with carbon emissions.
Utility companies are scrambling to come up with different ways to charge consumers for energy. The current business environment where companies use legacy systems to determine straightforward tariffs and usage data is batched in monthly billing cycles isn't effective anymore.
Without fixed asset tracking software, the organization cannot hope to reveal the true cost of ownership, nor the return on investment associated with a particular piece of equipment. When multiplied throughout the typically complex organization, this can represent a significant problem.
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