As the cost of sensors, devices, edge networks, machine learning, and analytics decreases, the impact of the Internet of Things (IoT) is creating a new industrial paradigm that impacts every industry, energy included. Energy has been evolving in terms of generation and distribution, and the IoT stands to be the most transformational aspect of this brave new world. Here’s how we expect it to affect corporate energy users in the next decade.
In a world of diminishing resources, increasingly unpredictable supply chains, and global competition, energy management must become a board-level area of focus. However, HBR research indicates that energy is "often the largest inadequately monitored part of a company’s cost structure."
For many executives, the myriad of ways in which to enact energy savings are too varied and not succinct enough to be actionable. Here, we present four different tried-and-true methods for saving on energy expenditures.
The energy ecosystem and electricity system is on the verge of disruption. Energy is becoming decentralized and new technologies are enabling business to both produce and consume energy. Many companies are looking at these megatrends to find new ways to save money, meet sustainability goals and build resiliency. Every year, companies spend more than $450 billion on energy efficiency and sustainability initiatives. Plus 63% of Fortune 100 companies have set one or more clean energy targets.
Responsible landfill management involves the proper handling of landfill gas and liquids, which are byproducts of the decomposition of waste. It requires considerable science, engineering and technology to manage an evolving waste stream in a manner that is protective of the air, land and water for generations to come. It also involves a relentless commitment to innovation.
As the world continues through large transitions, including increased digitization and the seemingly endless demand for more energy, accurate data collection has become a priority — the foundation of successful innovation and collaboration. Realizing this need, many companies have initiated efforts to collect energy data. This admirable and critical first step is not enough, however.