Implementing Industrial IoT solutions for reducing electricity bills
Electricity is the basic input for every enterprise and contributes towards their major operational cost. A reduction in electricity costs leads to improved profitability. With the advent of newer technologies like Industrial IoT (Internet of Things) systems it is possible to achieve reduction in electricity bills with little effort. For a progressive enterprise, adopting operational digitization and Industry 4.0 standards is the right step towards identifying the saving potentials and reducing electricity bills. In this article we explore the easy steps which can be taken to reduce electricity bills.
Benchmarking the current consumption
The first step towards improving any condition is knowing the current state of being. Most enterprises lack understanding of their existing electricity use patterns.
Hence, in the absence of this information, they can’t plan measures towards enhancing efficiency and optimizing consumption. Cloud based IoT solutions help in benchmarking of existing electricity consumption. Existing meters and sensors can be used for sending the operational data on the cloud platform, where it can be stored and analysed. The operational data can then be used for benchmarking the existing electricity consumption.
Identification of Idle/Non-productive operations
Secondly, analysis of the data will help in identifying the idle running time of the equipment. This information can be used by relevant stakeholder to take remedial measures and further optimize the production time. Based on research, about 12% of electricity is lost in plants owing to idle running of machines, ACs and compressors. The data generated from the plants can be utilized for developing the logic behind automating these tasks.
Industry 4.0
Continuous data collection & communication is the initial step towards upgrading to Industry 4.0 standards. At most of the places, this is being done manually, leading to data authenticity & reliability concerns. IoT systems automate this data collection and communication. Advanced Artificial Intelligence modules can analyze the generated data to provide insights on predictive maintenance and preventing machine failure. Timely maintenance leads to improved availability and upto 10% efficiency improvement in the operations. Automated reports highlighting the progress towards KPIs further aid in decision making and achieving the desired objectives
Plan-Do-Check-Act (PDCA)
Improvement needs to be continuous so that the savings achieved are sustainable. PDCA is the best tool to identify and implement the new technologies in the organization. Results of an improvement in the product/process can be validated by the accurate data generated through an IoT system. The solution further helps management to make informed choices amongst competing options and compute actual ROI/payback on the investment.
Conclusion
In conclusion, given the dynamics of today’s world we need to be an early adopter of technology. Implementing IIoT solution will not only help in reduction of electricity bills but also provide far more insights in the operations, than otherwise possible through traditional means.
Why should you choose us?
ECOTIO – Virtual Assistant, is the best IIoT solution for your company. Brainchild of an Energy Auditor and developed by Industrial engineers, we help you to reduce your operational costs and increase production efficiencies. Our solution is helping several MNCs and SMEs to achieve the twin objectives of profitability and sustainability simultaneously.
You can contact us for more details.
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Hi, Thanks for sharing this valuable information. It’s really helped me a lot!!