Artificial intelligence energy consumption monitoring
Sustainable energy consumption and reduced carbon footprint with AI-based monitoring
Introduction
The rise in energy consumption globally projects a 50% increase in its consumption by 2050 if unaddressed. To address this rising concern and to achieve the ESG goal of any industry, energy consumption monitoring using advanced technology can be the key component. Technological advancements such as artificial intelligence, machine learning, and IIOT play a big role in monitoring energy consumption and achieving ESG goals in industries and plants. In fact, by integrating AI, energy consumption across all sectors (industries, buildings, transport, and consumers) can be reduced by up to 25%, resulting in significant improvements in the GDP of any country. Real-time monitoring and predictive analytics with an accuracy of 90% enable companies to optimize energy consumption, promoting environmental sustainability and achieving ESG goals.
The complexity of energy monitoring in industries and manufacturing plants
Considering the challenges of regularly monitoring energy consumption, industries, and manufacturing plants face. Industrial units and manufacturing facilities generate vast amounts of data about energy being consumed and wasted, of which 60% remains underutilized due to challenges in analyzing and interpreting the data. Manufacturing plants even face difficulty monitoring and managing different machines’ energy consumption analyses from diverse sources.
Additionally, the varying energy consumption occasionally increases the complexity of establishing a baseline metric for energy consumption. This results in equipment failure and energy inefficiency. Again, certain operational practices also make it difficult to manage energy consumption monitoring effectively. Considering the growing complexity of evolving energy efficiency standards, it becomes difficult for any company or industry to ensure that regulatory compliance and ESG are maintained or achieved in such a scenario.
Solution with AI integration and predictive maintenance
AI-enabled predictive maintenance is a great way to minimize equipment downtime and energy consumption. Up to 20% of energy saving in any industrial setting is possible using the right combinations of sensors and artificial intelligence energy consumption monitoring and feedback systems. NrgMonitor is an artificial intelligence energy consumption monitoring solution by Nanoprecise. It analyses the data collected by different machines in the production unit to generate meaningful insights, which can then be used to facilitate proactive energy management strategies. NrgMonitor, being a robust artificial intelligence energy consumption monitoring solution, also mitigates the challenges associated with variable energy consumption by various industrial equipment. It helps analyze and predict energy consumption and reduce waste. Industries and Companies can analyze data in real time with accuracy and efficiency by leveraging AI-based predictive capabilities.
Cost-efficient solution
Nanoprecise’s artificial intelligence energy consumption monitoring solution, NrgMonitor, is cost-efficient. Although it requires an initial investment, this AI-driven solution offers a significant ROI depending on the company’s standard operating procedure. Upgrading from legacy maintenance systems or adjusting compatibilities can help one gain the most from NrgMonitor.
Here are some reports of the cost benefits to our customers using Nanoprecise PdM and Energy Monitoring Technology
Explore the impressive saving results achieved with Nanoprecise Solutions.
$42,800
Savings identified through excess energy usage in a multinational pharmaceutical company’s facility
$11.5M
Savings at a top mining company from reducing downtime and optimizing energy usage.
$0.7M
Saved by detecting bearing degradation at a chemical plant.
$1M
Saved over by detecting bearing wear at a prominent oil and gas refinery.
Conclusion
NrgMonitor, Nanoprecise‘s artificial intelligence energy consumption monitoring solution, is an important part of the world’s transformative shift towards the Industry’s ESG goals. As part of this change, NrgMonitor offers its users the following benefits.
- Diverse energy utility equipment is managed and monitored efficiently.
- Predictive maintenance and real-time monitoring help to save energy and avoid waste.
- The cost-efficient solution has a greater ROI than predictive or preventive maintenance.
- It helps to promote sustainability and regulatory compliance across sectors.
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Explore the transformative potential of predictive maintenance. At Nanoprecise, we specialize in tailoring predictive maintenance to your unique needs. Reach out today, and together, let’s pave the way for a more efficient, profitable and sustainable future.