NEW YORK (January 26, 2015) —According to a new report by Forbes Insights, in association with EnerNOC, “No More Wasted Energy: The Power of Energy Intelligence Software,” information technology can help enterprises reduce energy costs, mitigate risks, streamline compliance and increase operational efficiency.
Advanced software systems now focus on myriad business functions—from manufacturing processes to sales and marketing—tracking and analyzing data, and increasing productivity. Yet the billions of dollars spent annually by U.S. enterprises on energy costs have remained an untamed outlier, thanks to the fragmented state of energy management, decentralized decision making and a disjointed vendor landscape. Now energy intelligence software (EIS) can illuminate the problem, quantify it financially and produce an optimal solution.
“This report highlights issues that are vital across the organization, from energy managers to the CFO,” said Bruce Rogers, Chief Insights Officer of Forbes Media. “Information technology has transformed energy into a controllable cost.”
“Technology has been incredibly effective at increasing productivity and reducing operating costs across business functions within the enterprise – using energy intelligence software for energy management is no different. This report underscores how important it is for businesses to leverage an enterprise software solution to take control of energy costs, gain visibility into spend against budget, and forecast accurately,” said Tim Healy, Chairman and CEO of EnerNOC.
Key insights include:
- Many enterprises spend as much as $500 million a year on energy. Commercial or industrial organizations with $10 billion of annual revenue typically spend somewhere between 3% and 5% of their revenue on energy, yet most senior executives remain unaware of how much they spend on this.
- In total, building energy waste costs commercial and industrial entities $60 billion in unnecessary energy spend annually.
- There are more than 5 million commercial, industrial and institutional buildings in the United States but just 14,000 energy managers—one for every 360 buildings.
- The cost of energy is more challenging to manage than the cost of most commodities, thanks to such complications as peak demand charges.Nuances like this across the time dimension of energy use, coupled with ongoing volatility in energy pricing, can confound even the most proactive energy managers.
- Approximately 85% of existing commercial buildings and industrial facilities in the U.S. will still be standing in 2030, so newer, more energy-efficient construction will not solve the energy waste challenge.
- Demand is such for energy management solutions that some 400 companies now compete in the building energy management systems (BEMS) space.
To download a copy of the white paper, go to www.forbes.com/forbesinsights/enernoc/
About Forbes Insights
Forbes Insights is the strategic research and thought leadership practice of Forbes Media, publisher of Forbes magazine and Forbes.com, whose combined media properties reach nearly 75 million business decision makers worldwide on a monthly basis. Taking advantage of a proprietary database of senior-level executives in the Forbes community, Forbes Insights conducts research on a host of topics of interest to C-level executives, senior marketing professionals, small business owners and those who aspire to positions of leadership, as well as providing deep insights into issues and trends surrounding wealth creation and wealth management.
EnerNOC is a leading provider of cloud-based energy intelligence software (EIS) and services to thousands of enterprise customers and utilities globally. EnerNOC’s EIS solutions for enterprise customers improve energy productivity by optimizing how they buy, how much they use, and when they use energy. EIS for enterprise includes budgeting and procurement, utility bill management, facility optimization, visibility and reporting, project tracking, demand management, and demand response. EnerNOC’s EIS solutions for utilities help maximize customer engagement and the value of demand-side resources, including demand response and energy efficiency. EnerNOC supports customer success with its world-class professional services team and a Network Operations Center (NOC) staffed 24x7x365. For more information, visit www.enernoc.com.
Forbes Insights Laura Daunis, 212-367-4874, firstname.lastname@example.org
EnerNOC Robin Deliso, 617-692-2601, email@example.com
Download the report at www.forbes.com/forbesinsights/enernoc/
This article was written by Forbes Corporate Communications from Forbes and was legally licensed through the NewsCred publisher network.