What is Energy Monitoring?

By |2018-09-05T14:43:01+00:00September 5th, 2018|Energy Software, UtilityModule (UM)|

By using an online energy monitoring system, businesses can learn more about their energy data and make informed decisions about how to conserve energy. But energy monitoring can be very complex and tedious without the right tools in place. In this article, we offer a software-enabled solution to help you navigate the process.

OK, But What Is Energy Monitoring?

Energy monitoring at its core is about tracking energy consumption. The goal of tracking energy is to create an effective energy management program that can save money. However, energy monitoring is about much more than simply saving money. In fact, by monitoring energy, opportunities are created for organizations to become forward-thinking and lean in financial planning. It also produces other forms of value through corporate social responsibility (CSR). Therefore, energy monitoring is one piece of a larger energy strategy, as well as an important part of an overall business strategy.

Why Energy Monitoring is Important

Historically, businesses have tried to monitor their energy by way of their utility and supplier invoices, often using accounting software or spreadsheets.  While this approach is possible, carrying out complex analysis is difficult, and that problem is amplified when a business has multiple properties to manage. But with UM Tech’s energy software, businesses can easily monitor all of their energy accounts in one easy to use dashboard. This platform handles all fuel sources and covers all properties.

To initiate the process, business owners enter the credentials for each utility.  Our software then ingests the data and populates the dashboard with historical data. This creates a baseline upon which all future decisions can be based. 

Using this baseline, businesses can then compare energy consumption and costs on a monthly and yearly basis, and use this data to help project future costs for financial budgeting and capital project planning purposes.

These projects then become the basis of all future strategic decisions. By supporting business owners in understanding their baseline and projecting future costs, they are provided with all the information needed to work with brokers on future deregulated energy contracts and retrofits.

Using UtilityModule (UM) for Energy Monitoring

Within the UM Tech energy management platform, energy monitoring is carried out via the web or mobile energy app, UtilityModule (UM) is a fully branded solution that energy brokers can offer to their customers.  If you want to learn more about UM, contact us today!