Intelligent submetering and data analytics drive savings
Arlington, VA – May 2, 2013 – GridPoint, Inc., a recognized leader in energy management and sustainability solutions that help customers maximize energy and operational savings, today announced that it had been named a key industry player by Navigant Research in its report, Industrial Energy Management Systems. The report, which examines the worldwide market for industrial energy management systems, focuses on software and services market issues, market drivers and inhibitors, regional trends, and global forecasts for industrial facilities.
The U.S. Department of Energy states the industrial and commercial markets account for 51 percent of total U.S. energy consumption1, spending more than $202.3 billion2 in annual energy costs with 30 percent3 of that spend categorized as inefficient or unnecessary. Further, it states a 10 percent reduction in usage would save businesses approximately $20 billion4. GridPoint’s energy management solution is designed to solve this problem, often saving customers between 10 and 30 percent on energy consumption and expenses, and can be cost-effectively tailored to address the unique needs of each industrial site.
Navigant Research notes that the strength of GridPoint’s energy management solution is derived from its ability to collect and aggregate data from disparate systems providing a holistic perspective on enterprise-wide energy issues by leveraging intelligent submetering data and cloud-based energy analytics software. The solution provides granular visibility into energy operations and equipment performance allowing users to combine energy data with a host of other business intelligence to make high impact decisions in real-time. In addition, the solution helps industrial customers verify that production equipment is operating at maximum efficiency, protects against the potentially devastating financial effects of unexpected production downtime, and ensures that business continuity is maintained.
Research Director Eric Woods highlighted the role of new technologies enabling data analytics, “Faster processing speeds and inexpensive storage have allowed big data to be processed and served up to users in real-time, or near real-time, on the floor of an industrial facility.” He also identified the operational and efficiency benefits of real-time data collection and analysis, “Operators can now see important aspects of the running processes as they are happening, allowing for adjustments ‘on the fly’ and minute improvements that add up to potential big savings over time. Understanding energy consumption is no longer an after-the-fact exercise.”
“Industrial energy environments are incredibly complex and require a cost-effective energy management solution that is flexible and extensible,” said GridPoint CEO John Spirtos. “Our solution provides actionable recommendations that drive deeper and more meaningful insight, efficiency, and enable real-time corrective action so customers can avoid costly unexpected downtime or sub-optimal equipment performance that can massively impact productivity.”
Navigant Research forecasts that the industrial market opportunity is promising for smaller, more innovative firms and expects that worldwide spending on industrial energy management systems and services will grow from $11.3 billion in 2013 to $22.4 billion in 2020, with a compound annual growth rate of 10.3 percent.
GridPoint touts a substantial customer roster of 11,000 sites deployed across the U.S., Canada, and U.K., that include 4 of the top 10 U.S. retailers and 3 of the top 10 U.S. restaurant companies in addition to government entities and leading North American utilities.
1U.S. Department of Energy (DOE), 2008 Buildings Energy Data Book, Section 1.1.1, 2008.
2Energy Information Administration. “2003 CBECS Detailed Tables. Table C4A. Expenditures for Sum of Major Fuels for All Buildings, 2003.” December 2006. 1 June 2007. Energy Information Administration. “2002 Energy Consumption by Manufacturers–Data Tables. Table 7.9 Expenditures for Purchased Energy Sources, 2002.” 2002. 1 June 2007.
3U.S. Environmental Protection Agency, ENERGY STAR program. “Useful Facts and Figures.” No date referenced. 1 June 2007.
4Energy Information Administration. “2003 CBECS Detailed Tables. Table C4A. Expenditures for Sum of Major Fuels for All Buildings, 2003.” December 2006. 1 June 2007. Energy Information Administration. “2002 Energy Consumption by Manufacturers–Data Tables. Table 7.9 Expenditures for Purchased Energy Sources, 2002.” 2002. 1 June 2007.
GridPoint is a leader in energy optimization technology that decarbonizes commercial buildings and accelerates a more sustainable energy future. GridPoint’s data-driven platform connects energy grids with the built environment and behind-the-meter distributed energy resources, enabling the ability to coordinate energy supply and demand to achieve energy and sustainability goals for businesses and the grid at the same time. GridPoint’s platform is deployed in over 18,000 commercial buildings across multiple industries. Leveraging data analytics, patented algorithms, and intelligent automation to deliver unprecedented visibility into complex building operations, GridPoint reduces energy costs, lowers carbon emissions, provides actionable facility insights and strengthens resiliency – building by building. Networked together, buildings with GridPoint Intelligence™ aggregate the reliable, precise and instantaneous capacity that energy grids increasingly require. The GridPoint Intelligent Energy Network™ of buildings is driving grid modernization and accelerating the transition to a sustainable energy future. For more information, visit https://www.gridpoint.com/.
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