In its essence, energy management is about close and accurate energy consumption monitoring and reporting of data. In addition to reducing the environmental footprint of households and corporate buildings, smart energy systems reduce operating costs substantially.
Reduce energy consumption
Energy management systems utilize the leveling of peak loads to manage energy consumption most efficiently. Develco Products manufactures wireless communication interfaces for meters, which allow for monitoring and analysis of household utility consumption. The long-term goal of energy management systems is to employ knowledge of consumption patterns to reduce energy costs, by moving consumption to low demand periods. In practice, energy management systems achieve this by, insofar as possible, having connected electrical devices run during periods where power is cheaper due to low demand.
Benefits of smart energy
Energy management is becoming increasingly important. Today, energy costs have become a central factor in domestic budgeting, wherefore home power usage monitoring is important to most modern households. Develco Products’ meter interfaces provide third-party meters with wireless communication capabilities and are the ideal choice for implementation into your smart energy solution.
Cheap eco-sustainable energy usage
Many businesses face several challenges in their day-to-day energy consumption monitoring due to their massive scale and diverse infrastructure, low degree of flexibility, and a general lack of readings or actionable insights regarding their energy consumption.
However, smart energy systems are an ideal solution for companies seeking to optimize their energy consumption in order to reduce operating costs, without sacrificing their eco-sustainability goals. Integrating an energy management system may also assist companies in reaching emission targets and combating rises in energy prices.
Integration of renewable energy sources (RES)
Energy providers experience an increased demand for efficient energy monitoring and control. Today, power is increasingly being generated from renewable energy sources, like wind, hydro, and solar.
Since the supply of energy from these sources is dependent upon weather conditions, it complicates the reliability of supply. This has resulted in the introduction of automatic, remote power consumption monitoring, which allows energy suppliers to implement a pricing system where the cost of renewable energy follows the available supply. In doing so, energy suppliers hope to increasingly affect consumer power usage patterns, moving demand to time intervals with lower demand.
Remote monitoring of photovoltaics
Energy management systems provide your customers with the ability to manage their energy consumption as effectively and cheaply as possible.
The Prosumer Meter from Develco Products is ideal for monitoring solar cell energy generation and consumption. The meter allows active prosumers to get a live feed of how much power is produced from their photovoltaic panels and compare it to the total consumption of the household as well as to grid activity (conventional meter functionality).
How Demand Response can help reduce residential energy consumption
With an ever-growing global population, energy consumption is on the rise; this increase creates a heightened risk for power outages caused by peaks in energy demand. This risk can be reduced through the mainstream usage and distribution of cost-efficient demand response programs.
The rising importance of Demand Response for more efficient green energy
According to a research report on Demand Response published by Rethink Technology Research, the commercial & industrial Demand Response market will experience significant growth within the next five years, with the market being expected to reach a global worth of $12.1bn by 2025.