Benefits From IoT Based Energy Management System

Internet of Things, that is IoT, has been deployed in many industries, such as manufacturing, energy, logistics, healthcare, retail, etc. IoT not only helps save electric power but also gives way to smarter grids, increased savings, improved security, and enhanced efficiency. Here are the benefits of IoT based energy management system that helps save energy in supply chain networks.

1. Reduce energy spending.

Companies, industries, and governments are searching for the capabilities of IoT for energy efficiency mainly because it brings economic benefits. Using a smart meter can real-time monitor the power usage and stop power sending by remote controlling the valve and help managers in the supply chain better control spending based on data-driven predictions.

2. Minimize carbon emissions.

Energy using data based on IoT helps the manager to optimize the use of resources, and measure and analyze their environmental impact, which helps companies to take corrective measures to decrease carbon footprint. The Chinese government has kept up with emerging regulations generally aimed at reducing emissions, so companies increasingly integrate energy management systems.

3. Better comply with regulations.

Companies leverage IoT not only for everyday energy management but also to see if they comply with current environmental regulations through the analyzed data from the energy management system.

4. Optimize asset maintenance.

Using IoT based network, managers can monitor the condition and performance of machinery and equipment on power plants, solar power plants, wind farms, etc.

5. Automate the process.

Companies always use the IoT-based energy management system to drive automation and optimize labor effort and cost. Using IoT-based monitoring systems, producers can automate the costly on-site asset management and improve the maintenance of equipment.

6. Cut operational expenses.

Companies and utilities can cut down the operational expenses by optimizing labor effort and asset maintenance based on the data from energy analysis, reporting, and calculation.

7. Predict consumption and make plans accordingly.

IoT-based energy management systems allow energy companies to build a data-driven strategy for energy production. They can make plans according to recent energy consumption data to predict future consumption to improve their demand-based pricing models.

8. Prevent the failure and Identify malfunctions in time.

IoT-based data will help managers to identify possible issues before they happen, so managers could do routine inspection work before they happen. And even if real damage happens, managers will know it in real-time as they can monitor their asset anytime, and they can arrange maintenance work before it causes too many losses.