Energy policies of each company have become environmental friendly. It has been reported that buildings in the U.S. are alone responsible for 40% of its country’s energy consumption and almost half of its carbon-di-oxide emission. Therefore, building energy management market has been successful to offer products to combat energy consumption.
Simple energy management devices help the facility manager to cut electricity cost with the help of technological advancement, especially if used in homes. These devices are capable to control commercial HVAC, lighting, demand response, and energy consumption. Many vendors collaborate with other contemporary energy management market players, to take initiative a step further. Here is an example of a firm, National Stores, which once faced challenge, to offer energy management. The company has more than 350 stores across the U.S. It was dependent upon memory and inclination of store managers to turn off lights and HAVC system after they were finished with their work.
The National Stores, decided to adopt a strategy through which it could manage its energy consumption. In addition, it later on formed alliance with Zen HQ. The alliance helped to save 40%–45% of the energy. Apart from this, an important factor which drives growth of the building energy management market is that energy efficient building are prone to attract more residents in comparison to normal buildings. Therefore, a lot of money is spent upon the energy cost, especially in a multifamily or condo property. Furthermore, to have a professionally prepared energy study material ready, which demonstrates long-term energy saving plans, helps to get buy-in residents to support energy initiatives.
With the coming up of energy saving instruments, such as solar panels and cogeneration, gives a chance to owners and tenants to control temperature in their apartments. These devices when coupled with available incentives or offers on the building, makes it cost effective to buy. Here is another example of a district in New Jersey, U.S., which is planning to invest $17 million in infrastructure upgrades via an Energy Savings Improvement Program. It will upgrade infrastructure through energy cost savings. Moreover, this will lead to 220 full time job opportunity throughout the region.
The energy management systems gives a great control and visibility to each facility of companies. In addition, it is easy to calculate its assets and act a means to collect cost and consumption data. The asset level data evaluated by the EMSs, help companies to identify sites and equipment that perform sub-optimally. Assessment of energy drift can assist to reveal other smaller issues that may have gone unnoticed, and may later lead to bigger expenses in the future. Data points then can be compared with internal and external benchmarks, contrasted with peer sites, tested against previous configurations and used to promote an ideal sequence of operations.
From the abovementioned examples, advancements in technology will promote usage of building energy management system market more in the near future, as outlined in a report added by Research Beam, titled, “Global Building Energy Management System (BEMS) Market by Manufacturers, Countries, Type and Application, Forecast to 2022”.
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