India's energy consumption surged by 80%, from 30 Mtoe in 2002 to 564 Mtoe in 2012. Measures for energy efficiency are imperative, as energy costs already constitute 10–20% of the total expense. It is crucial to monitor energy consumption, particularly in co-working spaces with diverse tenants and rising utility costs. The traditional single meters lack transparency, leading to billing disputes and energy wastage.

So, what is the solution to it? The answer is smart energy monitoring systems that turn data into insights to save money over time and ensure fair energy allocation. Here, we will explore what energy monitoring is and how to track energy usage in shared co-working spaces. We’ll also look at how advanced technologies like smart meters can streamline operations and improve efficiency.

What is Energy Monitoring?

Energy monitoring involves the systematic tracking, analysis, and management of energy consumption within a building or facility. It uses technologies like smart meters, sensors, and analytics software to provide real-time data about energy use. 

In coworking spaces, this monitoring is critical for identifying inefficiencies, optimising operations, and distributing energy costs fairly among occupants. By getting a clear picture of energy consumption, businesses can take informed steps toward reducing waste and improving energy efficiency across the entire building.

Why Co-working Spaces Need Energy Monitoring 

Co-working spaces are revolutionising the way we work, sparking creativity and collaboration in shared environments. But with these innovations come new challenges—one of the most pressing is energy consumption. So, let’s understand first why co-working spaces must prioritise energy monitoring and how doing so can deliver measurable benefits for both businesses and occupants.

1. Cost Control and Profitability 

Energy bills rank among the biggest expenses for co-working spaces. By implementing energy monitoring systems, property managers can track usage in real time and identify inefficiencies. This enables smarter decisions, such as scheduling energy-intensive activities during off-peak hours and adjusting heating or cooling systems based on occupancy levels. As a result, managers can reduce costs and improve overall `profitability.

2. Ensuring Fair Usage Among Tenants 

With multiple tenants using shared spaces, unequal energy consumption can be a concern. Energy monitoring provides detailed insights into the consumption patterns of different tenants, ensuring fair allocation of costs. This builds trust among tenants while maintaining transparency about shared expenses.

3. Optimising Energy Efficiency 

Energy monitoring systems can identify sources of inefficiency, such as excessive lighting or inefficient HVAC systems. Armed with these insights, operators can implement solutions like automation tools, smart thermostats, and LED upgrades to enhance energy efficiency and significantly reduce waste.

4. Enhancing Sustainability Credentials 

Sustainability is increasingly important to both businesses and consumers. Co-working spaces that reduce their carbon footprint through energy monitoring and optimisation can attract eco-conscious tenants. This also enhances the brand’s reputation as a forward-thinking, environmentally responsible business.

5. Improving Workplace Comfort 

Poorly managed energy systems can result in uncomfortable working conditions, such as overheated rooms, dim lighting, or inconsistent cooling. Energy monitoring helps optimise heating, ventilation, and lighting to ensure a comfortable and productive environment for everyone.

6. Future-Proofing Against Rising Energy Costs 

With energy prices continuously rising, co-working spaces without energy monitoring risk being caught off guard. Monitoring systems help predict long-term trends, giving operators valuable insights into future energy usage. This allows them to adjust strategies, such as adopting renewable energy solutions, to manage and reduce costs in the long run.

7. Enhanced Company Image

Being mindful of energy usage enhances the company’s reputation among employees, partners, and suppliers. This promotes trust, loyalty, and alignment with eco-conscious values in today’s competitive market.

How to Monitor Energy Usage in Shared Co-working Spaces

These practical steps will help you optimise energy efficiency and reduce unnecessary waste.

Step 1: Conduct an Energy Audit 

Begin by evaluating your building's overall energy consumption. Identify inefficiencies like poorly maintained HVAC systems or unused lights left on after hours.

Step 2: Define Your Goals 

Set measurable energy-saving targets, such as reducing consumption by 15% in the first year. Focus on metrics such as kilowatt-hours used, tenant-specific energy distribution, and peak demand reductions.

Step 3: Install Smart Meters and Submetering Solutions 

Traditional single-meter solutions simply aren’t enough for co-working spaces. Smart meters and submetering systems measure energy use at an individual tenant level, providing granular insights. This technology ensures fair cost allocation and highlights wasteful user patterns.

Step 4: Implement IoT Sensors 

Install IoT-connected devices to monitor energy usage in shared co-working spaces, covering systems like lighting, HVAC, and office equipment in real time. These sensors deliver actionable data, allowing for efficient adjustments to optimise energy consumption.

Step 5: Implement a Building Energy Management System 

A Building Energy Management System (BEMS) gives property managers centralised control over energy usage. Using AI, these systems predict energy demand and automate consumption, helping to reduce costs proactively.

Now that we understand the importance of monitoring energy usage, let’s explore the technologies that can make effective energy management a reality.

Key Technologies To Monitor Energy Usage In Shared Co-Working Spaces 

1. Smart Meters and Submetering 

Smart meters provide real-time data on energy consumption, allowing co-working space managers to track energy usage at a granular level. Submetering further breaks down energy use by different areas or equipment within the space. This enables more precise monitoring and helps identify inefficiencies.

These tools ensure accurate billing and provide insights into which parts of the facility use the most energy. With this information, property managers can implement targeted interventions to optimise energy usage.

2. IoT-Based Monitoring 

IoT sensors are transforming energy performance tracking. From HVAC systems to desk stations, these sensors provide precise and actionable data. Facilities that use IoT technology have seen energy savings of 20% to 40% on average.

3. Building Energy Management Systems (BEMS) 

Building Energy Management Systems (BEMS) combine energy monitoring and automation to optimise energy usage. By predicting peak demand times, adjusting building schedules, and using AI for future energy forecasts, BEMS ensure efficient operations and cost savings.

4. Cloud and Mobile Solutions 

Cloud-based property management software like Crib offers on-the-go energy usage monitoring through its mobile app. With cloud-enabled dashboards, facility managers can access real-time data anytime, making it easier to make quick, informed decisions.

Unique Challenges in Co-Working Spaces 

Co-working spaces are inherently dynamic. Tenants such as startups or small businesses have varying energy usage patterns depending on their operations, working hours, and equipment requirements. These complexities often lead to challenges such as uneven energy distribution, operational inefficiencies, and rising utility costs.

Example: Tenants with heavy equipment, such as design studios or tech startups, may use more energy during peak hours. Meanwhile, other tenants might have lower energy requirements, leading to discrepancies in billing and inefficiencies in energy management.

Smart Energy Management for Co-Working Spaces with Crib

Energy monitoring isn’t just a nice-to-have for shared business buildings; it’s a necessity. The benefits are undeniable, from cutting costs to reducing environmental impacts and improving tenant relationships.

With tools like Crib’s Smart Meter, monitoring the energy usage in shared co-working spaces has never been easier. It is designed for scalability and simplicity, and it provides actionable insights to improve energy efficiency, manage costs, and meet sustainability goals.

Some of its prominent features are:

1. On-Device Billing

Crib’s on-device billing simplifies energy management by providing real-time billing information directly on the device. This ensures transparency, reduces disputes, and helps property managers maintain accurate and hassle-free billing processes.

2. Rich Analytics

You can gain actionable insights with Crib’s advanced analytics. The platform tracks energy usage patterns, identifies inefficiencies, and helps optimise consumption, empowering smarter decision-making for property managers and tenants alike.

3. Notifications

Stay informed with instant notifications for usage alerts, billing updates, or unusual consumption patterns. Crib ensures you never miss important updates, enabling proactive energy management.

4. Balance Prediction

Its intelligent balance prediction feature forecasts energy requirements based on usage patterns. This helps tenants plan, avoid service interruptions, and manage costs effectively.

5. Share Readings

Easily share energy readings with tenants or team members. Crib’s seamless sharing functionality promotes transparency and simplifies communication, making energy management more collaborative.

6. API Integration

Crib offers robust API integration, allowing businesses to connect energy monitoring data with other software. This ensures streamlined workflows and comprehensive energy management solutions tailored to unique needs.

7. OTA Ready

Crib devices are Over-the-Air (OTA) ready, enabling effortless firmware updates. This ensures the system remains up-to-date with the latest features and security enhancements without requiring physical intervention.

8. Historical Data

Access detailed historical energy data of your energy consumption. Analyse trends, compare usage over time, and identify areas for improvement, empowering smarter energy decisions based on past performance.

9. Switch On/Off From Anywhere

Remotely manage connected devices by turning them on or off via mobile or web interfaces. This feature enhances convenience and ensures energy isn’t wasted when devices are left running unnecessarily.

10. Use as Prepaid/Postpaid on Single Device

Best of all, it enables flexible payment options by using the system as either prepaid or postpaid. This feature adapts to different user preferences, ensuring convenient and hassle-free energy management.

So, when was the last time you took a closer look at your energy usage? The insights might surprise you. Start taking control of your building's energy consumption today with Crib.

Make Energy Monitoring Work for Your Co-working Space 

Implementing energy monitoring may seem like a daunting leap—but the benefits far outweigh the costs. Using tools like Crib’s cutting-edge Smart Meters and IoT-enabled devices, you can foster operational efficiency, reduce energy waste, and create a happier co-working community.

Don’t wait for your next energy bill to surprise you. Start monitoring energy usage today to boost efficiency, cut costs, and make your workspace more sustainable. Want to see how Crib can transform your co-working space?

Book a demo with Crib today and discover how we can help streamline your energy usage!

FAQs 

Q1. What are smart meters, and how do they work? 

Smart meters are advanced energy-tracking devices that measure real-time electricity usage. They automatically transmit data to energy providers and facility managers, eliminating manual readings. This helps monitor consumption patterns, identify inefficiencies, and improve energy management.

Q2. Can energy monitoring support sustainability goals? 

Absolutely! It reduces energy waste, lowers carbon emissions, and helps track progress toward meeting corporate ESG initiatives.

Q3. Is it expensive to install energy monitoring systems? 

While there is an initial investment, solutions like Crib's smart meters deliver ROI through long-term savings and improved efficiencies. Over time, reduced energy costs and optimised usage make these systems a cost-effective choice for co-working spaces.