How applying the Internet of Things to your business can help you better manage energy consumption, mitigating risk caused by rising energy bills and future proofing your business.
Rising energy bills, higher interest rates and falling orders are putting strain on the manufacturing sector. Increasing energy costs have driven up the prices of all kinds of products and services across the globe, and energy inflation is a concern that’s set to continue for the foreseeable future.
The Guardian reports that insolvencies across the manufacturing sector have soared by 64% since last year, and a wave of business failures is expected this winter in response to rising energy prices.
‘Energy bills for some businesses are expected to increase by 300%-400% in October’
With no sign of financial intervention from the government, companies must begin looking at other ways to tackle rising prices to stay afloat and safeguard their businesses for the future.
IIoT for Energy Management
By tackling the root cause of wasted energy consumption, you can in turn deliver huge reductions in energy costs to your business.
Through applying the Industrial Internet of Things for energy management to your business, you can begin to better monitor and manage consumption in real time. Visualising energy flows and consumption values for various processes in detail, helping you to identify why changes have occurred – and do something about it quickly.
Evaluate implemented efficiency measures, optimise energy procurement, and compare energy efficiency across plants and locations whilst also supporting compliance with the statutory regulations required by ISO 50001.
With Energy Manager from Siemens MindSphere, you can:
- Improve transparency to identify energy-consuming machines and high energy production processes
- Conduct detailed energy analysis
- Feel equipped with the right tools and solution to drive energy management across multiple plants
- Achieve corporate sustainability goals and meet regulations
- Reduce operating costs through optimisation of energy consumption, in turn lowering costs of electric utilities
- Harness the power of real-time data
Businesses can look to reach potential saving of up to 30% from an energy management system* such as Siemens MindSphere.
researchgate.net: Energy savings by energy management systems: A review
Watch this on-demand webinar (20 minute watch time) to learn more:
If you’re interested in understanding more about how you can begin using Energy Management to reduce operating costs then get in touch with a member of our team today, email info@cadituk.com or contact us here: Contact – CAD-IT UK (cadituk.com)