Top 5 reasons for using a cloud based energy management software

The world has seen an increase in energy regulations recently proving the greater necessity for energy management tools. In the energy market, especially for utilities, asset managers or O&M companies it has become incredibly important to be able to manage tons of data. Cloud based energy management software have become the dominant tool and here are the 5 reasons why they should be used by energy companies to support their management practices.

1. Accessibility

Cloud based systems allow energy managers to access information with greater flexibility. By utilizing a cloud based system, users can store information from many different data acquisition systems and access and analyze this information from different sites with one application. In fact, such a system allows for easier portfolio management as it is possible to view all managed sites at once. Because energy managers are able to access information remotely, this also reduces on-site maintenance to only when absolutely necessary, saving time and cost in manual maintenance.

2. Cost Reduction in Development

Cost reduction proves to be one of the greatest benefits of cloud based energy management systems as it allows energy companies to curb costs for the development of local infrastructure. Innovation of the software as needed is crucial to remain competitive. Because these systems are generally sold as a service, the consumer does not need to take care of maintenance and updating of the database and infrastructure which again reduces wasted time and money that could be spent on implementing energy and money saving practices based on the data received. Clients also only need to pay for what they use thereby reducing excessive overhead cost.

3. Cost Reduction in Man Power Resource Allocation

Not only do cloud services minimize costs of software development and maintenance but also direct monetary costs, the cost of time, and spent resources on maintaining in-house IT professionals and infrastructure on gathering, storing and analyzing energy data. This proves most beneficial for sectors that do not or cannot prioritize in-house energy management software experts.


4. Elasticity


Cloud based systems allow for greater deployment flexibility, meaning that it is easy to either upgrade or downgrade resources which proves a great advantage for energy management systems compared to owned infrastructure. This allows the consumer to reduce or increase site data acquisition and maintenance much easier as demand dictates. For energy management specialists and consultants, this proves especially beneficial as clients change, more sites are easily implemented into the system for better facilitated management.

5. Disaster Recovery

Every business possesses sensitive, important information that is crucial to business operations and must be protected. Cloud based services are the simplest way to keep information backed up and safe. Specifically, it is cited that small businesses are twice as likely as larger companies to implement cloud-based backup and recovery solutions. This solution saves time and large up-front investments. With cloud based energy management software, energy data and savings analysis is securely maintained and updated without much work from the customer.


These reasons why cloud based energy management software provide more efficient and cheaper tools for energy management on any scale are important to understand for any asset manager or O&M company looking to take their business to the next step. But at the same time, they should look for a solution which is also highly customizable as needs of their company may not be the same as other energy companies or change over time.

This is the one of a series of articles, where we take a look at how energy companies can boost their performances through digital energy. In this series we will discuss:

Subscribe to our Newsletter "Digital Energy Insights"

Top 3 features of an asset management software

Not all energy asset management software are created equal. With a vast array of options available, selecting the right one for your organization can feel completely overwhelming. If you don’t know where to start, here are the top 3 features you should look for:

1) Integration:

You need to look for a truly integrated asset management solution, which allows you to care for all aspects of your energy asset within one platform. You should be able to add many different local and external data sources, according to those you need and choose a solution that can integrate them smoothly in one place. In fact, a fully integrated software saves hundreds of work hours every year and when it communicates seamlessly, your work runs smoother.

2) Accuracy:

Your energy asset management software must provide and keep accurate data for your company and it also should provide an automated solution. If you’re manually pulling spreadsheets or data reports, you substantially increase the risk of inaccurate records and, corrupted data, or human error.  Furthermore, the data provided by an energy management software allows you to make decisions based on historical information, rather than best guesses. This data enables you to have strategic (rather than reactive) planning – providing an even more profound financial benefit to your company.

3) Customization:

Time is a precious resource. If you’re like most energy asset managers, your time is always in demand, and there just isn’t enough of it to go around. This is why you need an energy management software solution that provides the functionality, efficiency, and support to meet the needs of your organization. In order to be fully efficient, a software should be extremely customizable to fit exactly your needs.

 

So, now you know what to look for in an energy asset management software but of course, you also need to understand other key aspects. For example, what you really need is a vertical all in one solutions or building your own energy software

This is the one of a series of articles, where we take a look at how energy companies can boost their performances through digital energy. In this series we will discuss:

  • New revenue opportunities in the digital energy era
  • Main struggles with energy monitoring and management software
  • Vertical all in one solutions Vs. Building your own energy software

Subscribe to our Newsletter "Digital Energy Insights"

3 ways to improve the ROI of your energy spreadsheets

You would love to automate your reports, but the already existing platforms are not capable of giving what you want? 

Most energy asset managers are struggling with organizing and processing their data to create periodical reports. These documents are critical for anyone operating in the energy industry and at every level. Thus, asset managers put so much effort in their excel models over the last years, that are now reluctant to say them goodbye.

They would love to automate their reports and cut down the time spent on spreadsheets, but the truth is that even though there are a lot of energy asset management platforms out there, just a few truly allow you to get the data and the reports exactly how they want them. 

Are you one of them? 

Did you invest hours, days or even weeks creating the perfect report that fits your needs? Which works perfectly but at the same time is so time consuming and needs a lot of manual work?

What you need is to find a software which helps run your work smoother, customizable and easy to integrate with what you already created so that you can get the report exactly as you need it.  

Here are a few examples of how you can avoid wasting the time spent on spreadsheet for different kinds of reports: 

Operating report: those that are generated for department level evaluation and budgeting. You currently track all your obligations using Excel and have an internal system that works. Use that data to upload it to a more robust system that will allow you to assign the tasks to individual or roles and set reminders when necessary.

Executive reports: those usually include the high level valuation of the whole portfolio of activities and assets. Find a software which allows you to upload your existing model that you put together in Excel, so you won’t have to trash your hard work.

Customer reports: those are usually addressed to the owners of the power plants and include figures regarding the technical and financial performance of the portfolio. Perhaps there are tracking spreadsheets that you love, and simply cannot move away from. Look for a software that allows you to update it and upload it using the document management tool in the platform that will tie it to a specific portfolio or project. It will allow you to tag it with labels and assign it to specific users or contact.

 

This is the one of a series of articles, where we take a look at how energy companies can boost their performances through digital energy. In this series we will discuss:

  • New revenue opportunities in the digital energy era
  • How much time do asset managers waste on spreadsheets?
  • Main struggles with energy monitoring and management software
  • SaaS vs On-Premise Energy Management Software

Subscribe to our Newsletter "Digital Energy Insights"

We Are Hiring!

Elemize Technologies is a young and innovative startup based in Rome, whose objective is to promote the transition towards cleaner and fairer electricity systems. Our product complements distributed energy storage systems (DSS) in residential and industrial buildings to optimize energy flows and let the user save up to the double on the energy bill. At the same time, it offers utilities a platform to aggregate multiple DSS for balancing the grid efficiently, while enhancing client interaction.

We are a team of young energy professionals and researchers who joined the opportunity of renewing the energy sector. Right now, we are looking for a smart, entrepreneurial oriented Junior Software Engineer to join the full-time working team.

Requirements:
  • A computer science or equivalent degree.
  • Advanced experience with Python and C++ programming languages.
  • Good knowledge of relational databases, preferably MySQL.
  • Have a proactive approach and the ability to share with other developers.
  • Experience in developing on Linux systems.
Nice to have skills:
  • Knowledge of Javascript or Go programming languages.
  • Have a good understanding of the security and performance issues related to the development of network connected software.
  • Good knowledge about software architecture and software testing.
  • Basic knowledge of data analysis and machine learning tools and techniques.

For the first 6 months, we can offer the candidate a net salary from €1.000 to €1.500 per month, based on candidate experience.

Interested people can send a CV + Cover Letter to: info@elemize.com

 

Elemize wins the prize “Call for Disruption in Energy” by Enel

And the winner is… Elemize. This young Italian company specialised in the optimisation of systems for the storage and distribution of self-generated energy has won the Call for Disruption Energy by Enel, Intermonte, Consilia and Ascomfidi to promote innovative projects in the energy and green economy sectors.

The name of the winner was announced on January 11, at the award ceremony held at the Rome headquarters of Luiss Enlabs, the accelerator of Italy’s best start-ups.

Of the five finalists (Elemize, Risvolta, Power Street Generation, Crossing and Fiorentite), the jury chose a company engaged in a cutting-edge sector like that of “prosumers” (energy consumers and producers) for which it has designed a platform that is able to cut electricity bills by reducing system imbalances. The Elemize project makes it possible to optimise the storage of electrical energy distributed with renewable energy facilities in prosumer buildings combining an algorithm, a specific software and Big Data.

Read the full article on Enel website