Many manufacturers may not realize their plants only utilize around half of the power provided. The rest is lost or wasted due to power guzzlers like inefficient equipment and leaking air compressors.
The issue of power wastage is common throughout the world, and many countries with heavy industries are wasting over half the energy they produce. That's billions wasted in unutilized energy.
Today, we will discuss how manufacturers can reduce industrial energy costs so you can do the same for your manufacturing facility.
How Manufacturers Can Reduce Industrial Energy Costs
Here are a few effective ways to reduce industrial energy costs and make your facility more energy efficient.
Deploy an Energy Management Team
Energy efficiency initiatives often fail due to a lack of decisiveness, leadership, and management. An energy management team can be beneficial in meeting this skill gap. It can include one person from each department, ideally incentivized to keep costs low. This task force can work together to monitor usage and reduce waste.
Perform In-House Energy Audits
You can easily use an energy audit guidebook and get assistance from your facility experts to perform an energy audit. However, it is best to seek professional help from specialists. You should also include a thorough HVAC audit in your energy audit for superior results.
Such audits can give actual numbers for department consumptions, peak consumption times, efficiency efforts' ROIs, and, ultimately, help you reduce industrial energy costs.
Schedule Equipment Use to Avoid Peak Times
Peak time usage typically makes up around 30 percent of your monthly power bill. Knowing about peak time from your energy audits can help you schedule the use of power-hungry equipment strategically to run outside of peak times.
Optimize and Maintain Air Compressors
Poorly designed or improperly maintained industrial air compressors can leak and waste immense amounts of energy, hiking up power bills. Optimizing, regularly maintaining, and monitoring air compressors and their energy use can hugely improve overall energy efficiency.
Use a Reliable Power Analytic Solution
A reliable power analytic solution like MiDAS from Tantiv4 is perhaps the best, most efficient, and cost-effective way to reduce industrial energy costs.
With advanced connectivity, measurement, monitoring, ML-based machine analytics, and a highly interactive dashboard, MiDAS can:
- Accurately monitor power consumption
- Monitor and control maximum demand and Power Factor (PF)
- Identify consumption patterns and deviations
- Organize as per the number of plants, departments, and assets
- Generate actionable reports using a Natural Language interface
- Alert on Low PF, voltage unbalance, interruptions, and sag and swells
- Provide role-based notifications to the right person or team
- And much more
This comprehensive and effective power analytic solution can generate immense value from your employees, departments, and equipment.
Conclusion
The points made in this post can help manufacturers reduce industrial energy costs. You should create and incentivize an energy management team, perform audits, strategically schedule equipment use, and regularly optimize and maintain air compressors.
However, the best thing you can do in this regard is to deploy a reliable power analytics solution like MiDAS from Tantiv4. It can help you overcome all your energy efficiency needs, including those mentioned here.
If you want to learn more about how manufacturers can reduce industrial energy costs or the features, benefits, and convenient Software as a Service (SaaS) model please visit MiDAS Power Analytics Solution today.