Is Energy Management Software paving the New Path in the Utility industry?

Utilities and energy are the foundation of modern life. These services are synonymous with our daily life. Just name an activity, and these services would appear in them in one way or the other. As these are services, therefore they incur bills because these services are provided to the common masses in exchange for money. The amount of money one needs to pay depends on the rate of these services that the utility providers decide.

The evolution of energy and utility bills

As mentioned earlier utility and energy bills are generated based on the rates decided on a certain utilized unit. Bills are provided primarily because of the below reasons:

  • Maintaining the infrastructure of these utility companies

  • Earning profit

  • Managing the economy of the utility and energy sector of the country

These bills have seen a lot of changes from their early days. While initially, the bills were quite straightforward having a fixed rate, as time progressed so did the billing system. The billing system has evolved a lot during the past years thereby segregating the kind of customer base for these utility services. 

In the present times, the utility billing system is highly digitized imbibing various kinds of software to ensure correct and seamless billing services. Many websites like the Utility Bidder provide not only comparative analysis of different service providers but also billing management services.

Energy Management Software

The term Energy Management Software is a generic umbrella term used for the various types of software that are used to manage not only utility billing services but also in managing their usages. The main areas that use this software include:

  • Bill-tracking for utility services

  • Real-time metering system

  • Reporting for carbon footprints and sustainability

  • Modeling and simulation in building design

  • Control systems of electrical and HVAC equipment

By looking at the above list, it can be easily imagined that this software is primarily used for sustainability purposes. Even though their primary purpose started for cost-saving efforts, today, they play a crucial role in deciphering the utility and energy usage statistics that prove quite beneficial for the energy and utility industry on an international level.

The ways that this software is utilized are usually done in the following methods:

  • Collecting and analyzing the data over a certain period: The data collected by the Energy Management Software is usually done through smart meter readings, circuit sensors, interval meters, etc. These data form the information base for the analytic purposes for energy conservation forecasts and calculating the carbon footprint, emission control of greenhouse gases, etc.

  • Reporting and monitoring: While calculating the conservation and heat incentives are the stepping-stones, monitoring them regularly and reporting about them is equally important. This software also does the reporting and monitoring quite effectively.

  • Engagement: Engaging the correct authorities either by a manual or automated process is an important part of the functionality of the Energy Management software. Providing choices for suitable energy and utility consumption plans also forms a part of engagement for such software.