Over the past year, global markets have seen gas and electricity prices rise by over 200%. Given these recent increases in energy prices, the topic of energy monitoring is becoming more relevant than ever for manufacturers looking to save money, optimize their energy usage, and improve their overall financial performance. At Konektio, we have created our own energy monitoring solution that can provide real-time data on energy usage and identify opportunities for cost savings. In this blog post, we’d like to outline the financial reasons you should consider an energy monitoring platform, like AssetMinder Impact, in 2023.
- Identify Energy-Saving Opportunities: One way that energy monitoring can help manufacturers save money is by identifying energy-saving opportunities, such as when equipment is running at inefficient levels or when energy is being wasted. By tracking and measuring energy consumption in a facility or system, manufacturers can identify energy inefficiencies, reduce energy costs, and improve overall financial performance.
- Use Real-Time Data: Energy monitoring can also provide real-time data on energy consumption, which can be used to implement energy-saving strategies such as scheduling equipment to run during times of lower energy demand or adjusting production schedules to align with times of lower energy costs. This can help manufacturers optimize their energy usage and reduce costs even further.
- Utilize Government Schemes: In addition to the direct cost savings from reduced energy consumption, energy monitoring can also help manufacturers qualify for energy-related incentives and grants from utilities and government programs. This can provide additional financial benefits for manufacturers.
- Increase Sustainability: Finally, energy monitoring can help manufacturers improve their financial performance by demonstrating their commitment to sustainability and energy efficiency. This can be attractive to customers and investors, and can help manufacturers differentiate themselves in a competitive market.
Overall, energy monitoring is a powerful tool for manufacturers that can help them reduce costs, optimize energy usage, and improve financial performance. AssetMinder Impact has the capability to aid you on all of these financial fronts, allowing you to take control of their energy consumption and improve their bottom line. Contact us to book a demo and see the unique impact we can leave on your organization.
Konektio connects the digital and physical worlds to digitally transform global industrial and manufacturing customers. Through their world-class expertise in IIoT automation solutions and services, including the IIoT SaaS product AssetMinder®, they help organizations succeed in their digital transformation journey by enabling visibility and control of their assets across the factory and externally in the field. AssetMinder® captures usage and performance data from smart digital sensors, providing advanced insights to unlock data-driven intelligence that optimizes processes, condition monitoring, uptime, and profitability across a range of industries including manufacturing, transportation, utilities, smart infrastructure, and food processing.