With the energy grid continuing to evolve, systems will have to adapt as we move towards a more flexible energy landscape. Data-driven energy optimisation could be the key to business profitability, and the route to achieving deep carbon reductions.
Climate change and net zero targets are at the forefront of the minds of consumers and investors. Energy performance is now an operational and commercial priority. High quality data analytics are crucial for businesses looking to advance this intelligence.
So, what are the benefits of gaining access to energy data?
Become more efficient
Accessing and understanding energy data across multiple sites could bring a whole host of benefits for your business. One key advantage is the opportunity to run your business more efficiently as you make adjustments in response to energy data information.
Energy data and analytics need to be readily available, accurate, and sufficiently granular, for businesses to obtain the full advantages. Through targeting the data from your sites, you can see where you are using the most energy and when. You can also analyse the data to better understand why you are using energy in a particular way. This makes it easier to identify and remedy areas of waste – making your business more sustainable and future-proofed as a result. Tables, graphs and images can illustrate energy information in a way that can inform decision-making.
It is essential that your business gains quick and easy access to its data. And as your business becomes more efficient, you should see a significant reduction in costs. Reducing energy waste throughout your business will reduce the costs attributed to that waste. This frees up money, which can be reinvested in other areas of the business.
Effective data management will help to inform your business decisions, keep your energy costs low and help you to future-proof your sites. Understanding data – not only from your online systems, but also from your bills, for example – can help your business to avoid charges for consumption in peak demand periods, as well as identifying wasteful usage. Thousands of pounds can be saved through effective energy data analysis, as you can clearly identify any spikes in wasted energy usage.
As we move towards a new era of sustainability in business, it is essential that organisations become as transparent as possible with their clients and potential investors. Transparency about your sustainability efforts can help your business to connect to customers on a deeper level. What’s more, offering accountability can encourage people to opt for certain businesses over their more reserved competitors.
Establishing a baseline and benchmarking will help your business to demonstrate performance improvements to stakeholders, helping your business to attain a competitive edge. This performance information can help to inform your sustainability reviews, corporate governance and stakeholder engagement.
Research has found that 94% of consumers are more likely to be loyal to a brand that is completely transparent. With a consumer market that is focused on sustainability now more than ever, transparency surrounding your sustainability goals is key.
Where does EIC come in?
Reducing your energy consumption is a simple and effective solution to reducing costs – if you know how. Finding your way around constantly rising energy prices can be confusing and time-consuming. But it doesn’t have to be.
At EIC, our goal is to help companies navigate the best routes for themselves and their business strategy. We recognise that while there are many reasons for the rising energy prices are rising, we can help our clients return their business operations to normal.