Energy and Utilities
Sustainable energy management solutions: Empowering a greener future
“Unless we act now, the 2030 Agenda will become an epitaph for a world that might have been”, said UN Secretary-General Antonio Guterres, about the setback of the SDGs due to the effects of the climate crisis, the Ukraine war, a weak global economy, and the lingering effects of COVID-19 pandemic.
As the international community grapples with the challenges of climate change and the need to protect the environment over the long term, companies across all industries are increasingly turning to sustainable energy solutions. This blog examines the significance of sustainable energy sources and their role in transforming energy management techniques, leading to the effective utilisation of resources.
How sustainable energy development boost business growth?
Recent technological advances and government policies have had a significant impact on the sustainability of the energy industry. Governments are striving to achieve net-zero carbon emissions, with more than half of the world’s economy now committed to net-zero obligations. Additionally, consumers are increasingly concerned about the environmental responsibility of their products.
Green energy options such as solar, wind, hydroelectric, and geothermal power are gaining prominence due to their abundant availability, reduced carbon emissions, and long-term sustainability. By tapping into these sustainable energy sources, companies are paving the way for a greener future while tackling the challenges of climate change.
The economic benefit of adopting sustainable energy solutions for businesses is exceptional. According to an American technological research and consulting firm, 58% of business leaders agree that sustainability programmes alleviate costs from supply chain-related energy consumption.
Other benefits that organisations prioritising the better management of energy resources experience are improvement in their brand reputation, operational efficiency, and stakeholder engagement. Green energy management techniques can also create a competitive advantage by attracting environmentally conscious investors and business partners.
Implementing sustainable energy management solutions
Organisations must adopt sustainable energy solutions to capitalise on the benefits of renewable energy. Executives can make informed decisions to reduce their carbon footprint and reach long-term sustainability objectives.
Organisations can optimise the management of energy resources by implementing the following best practices:
Leverage data-driven insights
Use advanced analytics and energy management software to gain actionable insights into energy consumption patterns and identify areas for improvement.
Compare energy usage across different facilities, departments, or periods to pinpoint inefficiencies and prioritise energy-saving initiatives.
Promote employee engagement
Foster a culture of energy awareness, encouraging employee participation in energy-saving initiatives through educational programs, incentives, and recognition.
Regular monitoring and maintenance
Maintain a proactive approach to equipment maintenance, ensuring the optimal and efficient operations of energy-consuming assets.
Regularly review and update energy management techniques to adjust to evolving technologies, regulations, and market dynamics.
The future of green energy management
Sustainable energy solutions are leading the way in 2023 and will continue to do so. It is evident from the current trends of increased investments and advancements in grid infrastructuring, energy efficiency, and decentralised energy generation.
Several upcoming technologies are on the cusp of scaling and becoming more economically viable as the world shifts to sustainable energy sources:
Carbon capture, utilisation, and storage (CCUS)
CCUS technology is still in its early stages of development but holds significant growth potential in the future, with increasing global efforts to decarbonise the atmosphere.
Carbon markets and offsets
The voluntary carbon market is gaining impetus as businesses commit to net-zero goals. Particularly in Southeast Asia, low-cost solutions can be developed with voluntary carbon markets.
AI and Big Data
The combination of Big Data and Artificial Intelligence (AI) has the potential to revolutionise the management of energy resources. AI can create a ‘level of intelligent coordination’ that links decentralised and local energy production to the consumer base and accurately predicts energy demand.
Green hydrogen is expected to play a critical role in decarbonising challenging sectors. However, its economic feasibility relies on the availability of cost-effective renewable energy, reduced electrolysis costs, and implementation of carbon-pricing policies.
Although currently unprofitable, recycling is expected to grow exponentially as more vehicles electrify and waste management standards increase.
For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.
How can Infosys BPM help?
By implementing sustainable energy solutions, organisations can lead the way to a greener future while reducing their environmental impact and fostering innovation. With its transformative digital BPM services, Infosys BPM drives growth across the utilities business processes solutions.