Internet of Energy: Cleaner and More Efficient Energy Production

Internet of Energy or IoE is the upgrading and automating of electricity infrastructures as a result of the growing number of connected devices, sensors and machines. It puts more power on the hands of the consumers and produces cleaner and more efficient energy. Although data within the IoE is growing at exponential rates, most of them are traditionally siloed across business units. Extracting these data and putting them to work can help companies gain insight and allow them to transform into a collaborative system.

Here are the 4 silos in the energy sector:

  • Generation. The first major silo is dependent on the work of turbines, with even the slightest disruption in their moving parts resulting to power loss, unscheduled downtime, safety concerns and many more. An energy solution can prevent unplanned downtime and catastrophic breakdowns. It can analyze data and provide insights, so companies can continue to improve their energy efficiency measures.
  • Transmission and Distribution. A mobile technology solution can play a key role in energy disaggregation, power voltage instability monitoring, and grid maintenance by creating efficiencies in expenses and operations. It analyzes data to classify and predict failures in advance. The right solution can see correlations in the data that leads to new discoveries.
  • Cybersecurity. The right technology can identify, categorize and combat various industrial threats. It can automate the research process, prioritize threats based on confidence, and display corroborating evidence to reduce overall risk.
  • Energy Trading and Risk Management. This is the fourth major silo in the energy sector. With accurate forecasting, utilities can offer better pricing to consumers. An energy mobile solution can provide insight to this process. Since utility companies are constantly facing volatile commodity prices, they need to develop methods for market and credit risk aggregation.

Analytics play an important role in how energy is produced and provided to consumers. By improving the sharing of data across these four major silos, companies can reap the wealth of new knowledge. And by leveraging an energy mobile technology solution, they can provide more value in the Internet of Energy. Click here to check out our solutions.     

The Main Reason Why Businesses Don’t Track their Energy Data

Most successful companies track and manage their data. They measure key performance indicators such as sales conversion rates, gross margin and many more. Most of them also use software to manage their data. However, fewer companies track and measure their energy data. Although electricity is a top five operating expense, they think that they can do little to control it. Unlike other operating expenses, energy is still misunderstood and questioned.

Electricity is important for businesses to operate, but it can also be confusing. It is made of thousands of potential combinations and almost always vary from one utility to another. Bills are often based on a combination of these:

  • Peak demand
  • Power factor
  • Time of energy use
  • Total kilowatt-hour consumption
  • Load factor
  • Fuel surcharges
  • Taxes
  • Renewable or energy efficiency programs
  • Fixed customer charges

Many people don’t even know half of these terms. Because they don’t understand their energy data or how much money they could save by tracking and taking control, they skip monitoring it.

Another reason why they don’t track their energy data is the lack of technology before. Utilities seldom offer their customers the capability to track their energy usage in real-time because they want to sell more electricity – not less. Tracking energy in real-time was limited to companies with expensive management systems. Thanks to the advancement in technology, measuring energy data has become easier and cheaper.

What’s the solution?

Volatix allows you to view your corporate data on your phone. We provide a simplified way to connect to your data. Building your own mobile solution can be very expensive, so we do the heavy-lifting for you. You don’t have to look for manpower to implement and manage your own in-house solution. We manage everything, including updates and troubleshooting.

Energy can be tracked and controlled. So, you should get the right solution as foundation to your energy strategy. Choose Volatix to capture your energy data and help you find ways to reduce the amount of energy you spend. As a result, you’ll get annual savings and validate your ROI. Find out more about our solutions here.