The manufacturing sector is realizing the opportunity to generate impressive financial savings with energy efficiency. Recently, the Institute for Market Transformation (IMT) released a series of case studies showcasing the benefits of energy efficiency investments, including an example from a lab at the University of Minnesota and an Ohio factory. From retrocommissioning to equipment retrofits, factory owners are realizing significant improvements to their bottom lines through investment in energy efficiency measures. An upcoming Navigant Research report on industrial energy management systems (IEMSs) finds that a growing market for software and services can help industrial customers expand the opportunity for energy efficiency benefits with solutions for measuring, monitoring, and predicting the impact of operational and equipment changes.
IEMSs are defined by software and services offered to reduce energy use and costs while meeting the operational requirements of the facility’s business. These solutions provide site-level insights on equipment and operational performance and enterprisewide perspectives for continuous business improvement. Industrial customers can leverage an IEMS as a cost-effective tool for internal transparency on energy consumption and analytics to support strategic changes in energy use for regulatory or corporate policy compliance.
Energy Management as a Differentiator
When oil prices continue to drive downward to historic lows, the question of why manufacturers would care about energy efficiency is a logical one. The fact is that energy efficiency still has a real and significant business value for the industrial sector. Executives in charge of industrial facilities are becoming more aware of the benefits of strategic energy management as a competitive differentiator and source of opportunity for business improvement. These customers are demanding more integrated systems in terms of operations and enterprise IT that utilize granular equipment and operations data for predictive maintenance and optimization of equipment and operations. IEMSs are becoming the go-to solution for leveraging data to deliver economic and business benefits.
The IMT case study from the University of Minnesota illustrated how organizational commitments can drive interest in efficiency. The university’s senior energy auditor explained, “We implement energy conservation projects as a key component of the University’s sustainability goal of becoming carbon neutral by 2050.” In Ohio at the Tusco Display factory case study, the company CEO explains how real benefit of energy efficiency is that economic and sustainability benefits go hand in hand: “Over the last 10 years, we have increased both production and per person productivity while cutting energy usage by 41 percent. We will continue to invest in energy efficiency because it’s good stewardship with a long-term, positive impact on our bottom line, too.”
Watch for our new Industrial Energy Management Systems report, coming soon!
Tags: Building Innovations, Energy Efficient Buildings, Energy Management, Intelligent Building Management Systems
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