Many people have a wrong concept or idea regarding around energy analytics. According to the myth, energy analytics is just about energy consumption that is not entirely accurate. Energy analytics depends on various variables that affect consumption of energy. A proper combination of energy data with context like costs, production metrics, tariff, date and time, weather and more helps to get energy analytics.
Energy analytics is devised to demonstrate the usage of energy and offer guidance to reduce your energy cost and improve your efficiency and profitability. Reduction on consumption is the simplest way to reduce cost but not always the easiest to achieve. In complex energy environments when constrained by tariff rate structures, a more sophisticated and analytical approach is necessary.
Often ignoring two major factors lead to failure in energy cost reduction. Primarily, energy use and generation must support the business and must be scaled as and when business conditions changes. Energy cost reduction is not at all directly linked to energy usage reduction. We all should be clear of the fact that just by reducing load does not result to save money. On the other hand shifting load in the wrong time could be expensive. In such scenarios, real energy analytics can provide a more suitable path for the success.