Creating a Smart Energy Management Solution for Smart Buildings
Smart buildings represent a significant portion of the Internet of Things (IoT) market. According to Mordor Intelligence , the smart building market is expected to record a compound annual growth rate of over 23 percent over the period of 2019 – 2024.
Increasingly, smart cities are being developed by nations around the world to improve efficiency, reduce operating costs and generally make life easier for residents and business owners. That being said, new buildings continue to be constructed with no reference to enable smart applications – forcing most smart building technology to be fitted to them . In the past, this had caused substantial challenges for installing hardware, power supplies and connectivity ultimately making it both time and cost prohibitive. From a building owners’ perspective, being able to swiftly and cost effectively add new functionality to existing real estate and thereby increase its value is a key driver.
One of the biggest challenges for commercial building owners and managers is how to reduce energy consumption and save money. According to the U.S. Energy Information Administration , 40 percent of energy consumed in the U.S. powers commercial and residential buildings. By enabling smart technologies and real-time energy management systems, building operators can red uce cost s by 15 percent , while at the same time, increasing their bottom line by creating an environment that reduces energy waste and encourages employee productivity.
As energy costs are rapidly increasing, and environmental issues continue to be a major concern, there is increasing pressure on building managers to provide more energy-saving solutions within their facilities. By using sensors , building operators have the ability to collect real-time data generated by the smart solution to effectively optimize energy use and drive down costs. This data can be used to intelligently reduce waste in smart buildings and help ensure compliance with green building initiatives. These smart solutions can be scalable by the number of sensors to provide coverage for even the largest real estate properties.
A solution that can support robust long-range wireless communications can connect energy management systems with smart thermostats, lighting controls, smart outlets and other energy saving devices. The following are a few key market drivers and benefits of this type of deployment.
Low power consumption: L ong battery life is essential in ensuring return on investment and it also means that there is no need for wired power supply for frequent battery replacement.
Indoor coverage: Smart buildings present unique challenges, like the need to penetrate dense building materials. As most smart building operations are located in basements or tuck ed away in areas that are hard to get to , smart buildings need a...
