In the current business situation investment in energy management is at the centre of planned business decisions, particularly for the energy-intensive companies where competitive assistance is often swayed by energy costs. Beyond industry-level initiatives, energy efficiency is also crucial for tackling increasing emission levels which is a corollary to industrial growth. The selection of energy efficiency strategies that work best for an undertaking is highly specific to a company or production unit. Many industrial plants have introduced progressive energy efficient technologies.
Taken as a whole, the way to enhance energy efficiency is to detect and examine the possible areas with measured data and estimate in order to estimate the energy cost savings and the investment requirement. Energy cost can be lowered by a form whereby the company lays down a target per unit cost of energy and works back to unprotected to the same by reducing the controllable costs. The energy management strategy is basically made up of two simple building blocks – get energy cheaper and once obtained, prevent its loss. Energy management represents a structured attempt by the companies to address the issue of preventing losses by driving energy efficiency. Fundamentally energy management system comprises three definite layers:
- Use of a data acquisition system which collects mechanical and electrical data that excursion energy efficiency;
- examination of these data from a perspective of benchmarking, asset management and environmental impact;
- Preparation of an actionable report which would provide the end-users with,
a. Operational issues, their fixes, cost to implement, operational benefits and savings calculate;
b. Cost-assistance examination of implementation of necessary capital improvement project;
c. Measurement and verification report to quantify the benefits of implementing operational fixes and capital improvements;
Early adoption of such system has shown to produce results which suggest that pay back period of such initiatives is in weeks and in months. Overall, such energy management systems provide the companies with the opportunity to continually enhance energy productivity and hence reduce environmental impact.
There are energy service companies who deliver such energy-efficient solutions based on individual cost assistance examination and guaranteed savings. Broadly, the models of sets provided by these companies are, fee-based consulting, bonus or penalty-based consulting or guaranteed savings with the project financed by the great number. The need for energy is growing manifold and energy supplies are becoming scarce and costlier. Among the different strategies to be developed for energy management, efficient use of energy and its conservation appears as the best choice considering that it is environmentally benign and cost-effective.