Top 5 benefits of energy management software for CRE
As the commercial real estate industry continues to expand and evolve, the importance of energy management has become increasingly apparent. To remain relevant and meet regulatory requirements, real estate occupiers, property owners and workplace managers must find ways to optimise energy consumption and reduce costs.
Implementing energy management software is one of the most effective tools for achieving these goals, bringing many benefits to the organisation.
1. Improved energy efficiency
Energy management software is designed to monitor and analyse a building’s energy consumption. Sustainability leaders have access to data that allows them to implement targeted improvements to reduce energy consumption and costs by identifying areas of energy waste and inefficiency. For example, specialist software can help identify equipment not operating efficiently, which enables a more strategic approach to “replace or repair” the asset as needed, resulting in significant energy savings and lower operating costs over time.
2. Increased cost savings
Reducing energy consumption not only benefits the environment but it also saves money. Energy management software can help sustainability leaders identify areas where energy costs can be reduced, such as by adjusting thermostat settings, optimising lighting schedules and reducing unnecessary usage during off-peak hours. By implementing these changes, property owners can save thousands of pounds in energy costs per year.
3. Enhanced sustainability and corporate social responsibility
It only takes a brief skim of a company’s annual report or the daily news to understand the significance of ESG and the criticality of a net zero strategy to ensure long-term success. By adopting appropriate software, businesses reduce their carbon footprint by optimising energy consumption and reducing waste. Having access to real-time data to guide implementing sustainable practices and strategic decision-making, businesses that leverage energy management software can improve their reputation and appeal to environmentally conscious stakeholders.
4. Improved operational efficiency
Energy management software provides a comprehensive view of their building’s energy consumption, allowing them to identify patterns and trends. By understanding how energy is used throughout the building, managers can make more informed decisions about allocating resources and prioritising improvements, resulting in more efficient operations and better management of resources.
5. Regulatory compliance
Energy consumption and efficiency regulations have become increasingly strict and enforced by regulatory bodies. Energy management software assists with compliance across such regulations by providing accurate and up-to-date information about energy usage and efficiency. Keeping on top of your energy consumption and compliance requirements enables businesses to avoid costly fines and penalties while improving their reputation as responsible corporate citizens.
So, what does this mean for businesses moving forward? Unfortunately, a “kick it under the couch” mentality will not cut it.
Real-time energy consumption monitoring and analysis is essential to improving energy and operational efficiency, reducing costs, enhancing sustainability and corporate social responsibility and staying compliant with regulations. It is vital for businesses looking to remain competitive in today’s market.
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