Energy markets are transitioning fast; Energy Efficiency/Productivity is set to play much bigger role in the transitioning process. Energy Efficiency policies must reflect the new market sentiments and provide long term direction, which in most cases is found missing.
Different think tanks, development agencies and governments have sponsored/funded numerous studies and reports barriers to scaling Energy Efficiency and potential ways to overcome those barriers. The kind of data that has been collected over the areas has not been utilized adequately and is not digitally available.
Establishing central repositories and digitizing such data assets can help create better economic and social value out of data assets, information and insights that can be generated collectively could foster business model innovation, develop tools/applications to simplify energy efficiency, rationalize the cost of energy audits, encourage new age Entrepreneurs to leverage technology and #BigData to solve complex problems.
We have seen the impact of Shared economy in sectors like transportation, hospitality and media. It’s time that Energy Efficiency markets take a clue; open-up to create more value for every stakeholder.
Over last two months we have been engaged by two big companies from Textile and Automobile sector to dig deep into their data assets (Energy, Production, Process) and conduct a detailed data discovery process. Background being that both the organisations wanted to find out ways in which data could support their decision of improving #EnergyProductivity.
Though they were not completely aware about the sort of insights/ benefits the data discovery process could bring to them but they still wanted to do it with an open mind and without any possible constraints.
Because of the way in which #DataAnalytics has been sold to companies, their ability to look at the use cases is getting restricted to what’s being sold to them. Forward looking organisations are wanting to do more, develop their share of process driven IPs that could give them competitive advantage and be able to innovate on use cases. It is this approach that is letting some of these companies get the right strategy in place, implement solutions that fit their requirements and more importantly generate much more economic value out of their data assets than they would have been able to do otherwise.
I am afraid that we do not have enough businesses/companies investing in the #Data discovery process. Last year i had release series of Podcasts on use of Data Analytics in driving Energy Productivity improvement and better Energy Management practices in Industries. One of the important areas i touched upon was the link between Change Management and adoption of data driven processes in assessing, reporting and managing energy performance!
Once businesses are able to overcome legacy issues, challenge their conventional approach they would be in a position to embrace #Data and make the best of use of emerging technologies/techniques.
What is your take on it? Would love to hear on your experience.
As per the rule 8(3) the Companies (Accounts) Rules 2014 the Board report shall contain Disclosure of Energy conservation activities that happens in the financial year. Disclosure should include steps taken to conserve energy, utilization of alternative sources and capital investment on energy conservation projects.
In last week I went through many annual reports to understand kind of projects or initiatives leading conglomerates are taking in the Energy Efficiency landscape. Reviewed annual reports from over 10 large and around 15 midsize companies from diverse industrial sectors, to understand and analyze their thought process on Energy Efficiency or Energy Productivity in general.
Surprisingly most of the Energy Efficiency initiatives listed in the annual reports were to common projects like Installation of VFDs, replacement of CFL with LED lights, Power factor correction, and low-cost retrofit projects. They certainly meet the objective of complying with the regulatory requirements and reporting the bare minimum information as is required by the system.
With forward looking organizations taking scientific targets on Energy Productivity improvement, investors and stakeholders want to know more about how your company is poised to respond to challenges of tomorrow.
Some of things that companies can cover are:-
- Efforts being taken to utilize data assets?
- How is company planning to innovate on operational practices?
- What is the plan to use emerging technologies such as #IIoT, #BigData and #Cloud?
I genuinely think that annual report is a very effective way of communicating with stakeholders, reaffirming the company’s approach towards increased Energy Productivity and overall sustainability, otherwise it’s pretty much a lost opportunity.
Last week I took a pretty late night flight from Hyderabad to Kolkata. My flight landed at around 2.30 am early morning. Noticed a few surprising things:-
- Almost all lights in the arrival section near the belt area were lit. Only 1 belt would have been used for our flight. (Censors wouldn’t perhaps be the best thing as the staff does move around)
- Temperature profile was very low, HVAC system must have been on for quite sometime.
It made me think that are we creating enough value out of the data assets we have? Could there be a simple logic built that would connect flight arrival, departure timings, passenger behaviour (check in time etc) and manage overall energy consumption?
Majority enegry consumption in Airports is across HVAC and Lighting, tapping into data related to flight schedules, passenger behaviour can really help in moving beyond the obvious when it comes to using data and making the best use of it.
Sounds silly but I guess someone might just be working on it!
What do you think?