Finance News & Insights

Data analytics can lead to major energy savings: 2 key steps

Chances are your company has done an audit recently of energy and water consumption. From there, you can use data analysis to zero in on opportunities to save — and there are plenty. 

 

In fact, there’s never been a more exciting (and fruitful) time to do it, says Vincent Manier, CFO of Ecova, a sustainability and energy management company.

Here’s what you need to know.

Start with low-hanging fruit

Once your company has an idea of its current consumption levels, that’s where finance leaders jump in.

You have a key role to play in designing and tracking sustainability program benefits, reminds Manier.

With consumption data analytics in place and benchmarks established, you’ll find “low-hanging” savings opportunities, such as:

  • IDing sites where lights can be turned off earlier
  • ensuring you’re getting the best rates on supply contracts, and
  • making sure there’s systematic reporting of energy consumption so you can change wasteful behaviors.

Leverage current technologies

That’s just your first step, though.

Today’s tech advances and tools let you make the most of your analytics, says Manier.

Partner with your facilities management folks to tap smart energy systems, building automation or lighting control systems to access real-time data and metrics to get the maximum benefit.

Info: Ecova, ecova.com

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