The Modern Demand for Remote Interval Data Access
At the beginning of 2020, we saw many companies announcing their focus on ESG goals as they worked to implement new initiatives to combat climate change. Despite the impact of the COVID-19 pandemic, that focus remains the same. Now, more than ever, companies are looking for ways to improve their energy management efforts amid changing energy trends and tighter budgets. Interval data access can give them the insight they need to reduce their consumption and achieve sustainable savings.
Understanding the value of interval data
Interval data has always been a valuable part of any energy management program and is critical to finding ways to minimize consumption, optimize operations, and cut costs. Now, in the era of COVID, where facilities have reduced operating hours and occupancy, it can provide necessary insight into changing energy usage and costs. While residential energy usage increased due to stay-at-home mandates, commercial use has steadily declined by almost 20 to 30 percent from last year. Unfortunately, the same could not be said for commercial energy costs, which only reduced by half of that.
Peak loads can account for more than 30% of a customer’s electricity bill.
As the pandemic came underway, energy usage decreased and peak load hours changed. Peak loads are determined by both the energy needed to service a customer’s account and the amount of energy consumed. It can account for more than 30 percent of a customer’s electricity bill, so as usage and peak load hours shift, businesses may end up putting out additional money despite reduced usage.
To combat this issue and save on energy, customers need to conduct a more granular analysis with interval data to identify peaks, better manage demand, and ensure they’re operating at maximum efficiency. With interval data, facility managers can gain go beyond monthly utility bills and get better visibility into usage. This detailed insight enables them to stay up-to-date on equipment performance and changes in demand and consumption as they occur.
The challenge of access
While interval data is key to reducing consumption and identifying substantial savings, it’s also harder to access these days. During the pandemic, the expense and physical risk of onsite installations becomes prohibitive.
This sudden challenge has prompted many companies to find a more digital way to access interval data. Prior to COVID, smart building platform company Aquicore was already searching for a way to supplement meter installations and collect interval data faster. Once the pandemic hit, the company turned to Urjanet for an immediate solution. With automated interval data from Urjanet, the company was able to reduce hardware installation costs by $45,000 for a single facility.
Remote interval data access has allowed Aquicore to maintain business continuity during the pandemic and reduce hardware installation costs by $45,000.
Taking a modern approach to interval data access
If the pandemic has shown us anything when it comes to business operations, it’s that remote solutions are the key to maintaining business continuity. In situations such as this, businesses can’t afford for their energy management efforts to fall by the wayside. Urjanet’s interval data solution provides granular data access from utility-installed submeters, so energy and facility managers can make informed decisions – 100 percent remotely.
Moving forward, we don’t know what the next “new normal” will bring, but we do know that the importance of interval data access will remain paramount. To learn more about how you can gain more granular energy insights, speak to one of our data experts today.
You might also be interested in:
- Achieving Demand Response Optimization During COVID-19
- The Tools You Need to Support Facility Management Benchmarking
- eBook: The State of Modern Energy Management
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About Ma-Keba Frye
Ma-Keba Frye is a Content Marketing Associate at Urjanet, assisting with content development and execution. When she's not writing, she enjoys reading, listening to music, and volunteering.