Monitor energy usage in shared spaces to address inefficiencies and save costs. Use tech tools for precise tracking. Actively engage tenants. Act now!
Wouldn’t it be great to have real-time insights into how much electricity your shared spaces consume? Knowing your expected utility costs in advance helps businesses and property owners budget more effectively.
The reality is quite different. Most shared buildings operate with a single meter for gas, water, or electricity, dividing costs through common billing. Extracting meaningful, actionable data from these systems is nearly impossible, leaving businesses in a reactive state—waiting for the next utility bill to assess usage and spending.
Smart energy monitoring tools eliminate this outdated approach. By implementing them, businesses can predict energy costs more accurately, identify inefficiencies, and cut unnecessary expenses. Whether you’re a building manager, property owner, or broker, tracking energy use is key to controlling costs and improving efficiency.
In this blog, we’ll explore how advanced technologies can help you monitor energy usage in shared spaces.
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.
This monitoring is critical in shared business buildings, as it identifies inefficiencies, optimises operations, and distributes energy costs fairly among occupants.
By gaining a clear picture of energy consumption, businesses can take informed steps to reduce waste and improve energy efficiency throughout their buildings.
Benefits of Monitoring Energy Use in Shared Spaces
Let’s explore the key advantages of effective energy monitoring in co-working environments.
Cost Savings
Energy monitoring eliminates guesswork, enabling targeted energy reductions. For instance, a commercial complex using Cribs’s submetering systems reduced its energy bills by identifying peak usage times and optimising scheduling.
Environmental Sustainability
Reducing energy waste lowers carbon emissions, aligning with corporate ESG goals. These systems help businesses track emissions, allowing them to address inefficiencies and meet global sustainability targets.
Operational Efficiency
Energy monitoring provides visibility into how building systems, such as HVAC or lighting, operate. Managers can then proactively address equipment inefficiencies, avoiding downtime and improving overall performance.
Tenant Satisfaction
Transparency in energy billing fosters trust among tenants. It shows them how their actions contribute to energy efficiency, which can also drive engagement and create a collaborative approach.
Risk Management
Advanced monitoring systems anticipate power surges and system failures, reducing risks and enhancing the building's resilience. These predictive tools, controlled by controls, provide alerts to ensure swift action when problems arise.
Hence, after learning about its significant benefits, you must now be wondering how to implement it. Here, we will also guide you through the steps to implement it successfully.
Steps to Monitor Energy Usage in Shared Spaces Effectively
Step 1: Conduct an Energy Audit
Assess your building's current energy use. Look for inefficiencies, such as irregular equipment usage or unnecessary lighting. Tools like Xempla can provide actionable data during this process.
Step 2: Define Clear Goals
Establish measurable objectives, like reducing energy consumption by 20% or achieving carbon neutrality by a specific year. KPIs keep all stakeholders aligned and focused.
Step 3: Choose the Right Technology
Research and invest in technologies that align with your building's specific needs. For shared buildings, tools like Crib offer scalable solutions for multi-tenant environments.
Step 4: Engage Tenants and Staff
Educate tenants and building staff about sustainable energy practices. Share actionable tips via community platforms or newsletters to encourage participation in energy-saving initiatives.
Step 5: Monitor Continuously and Report
Energy monitoring isn’t a one-and-done activity. Use monitoring systems to generate regular reports, track your progress, and adjust strategies for continuous improvement.
Key Technologies for Monitoring Energy Use
Using cutting-edge technologies is essential for effectively monitoring energy use in shared business buildings. Here’s a breakdown of some of the most impactful tools available today:
Smart Meters and Submetering
Crib's smart meters and submetering systems provide granular insights into energy usage at the tenant or department level. These devices ensure fair allocation of energy costs, reduce disputes between tenants, and simplify energy billing.
IoT-Based Systems
The Internet of Things (IoT) enables real-time energy monitoring by deploying sensors throughout the building. These devices track HVAC, lighting, and other energy-consuming systems and provide precise data to optimise energy usage. The building's controls leverage IoT to empower property managers with actionable insights.
Building Energy Management Systems (BEMS)
BEMS solutions integrate directly into facility operations, combining energy monitoring with intelligent automation. These advanced systems use AI to predict future energy needs and proactively optimise energy consumption. These tools bring centralised control and predictive analytics into play for large multi-tenant spaces.
Cloud and Mobile Applications
Data visualisation is key to understanding collected energy data. Cloud-based platforms and mobile apps empower facility managers to monitor and control energy usage remotely. For example, Crib offers user-friendly dashboards to analyse energy trends, diagnose inefficiencies, and drive improvements.
Using these technologies makes energy monitoring necessary and beneficial to business owners. Let's continue to know some hurdles to implementing it.
Challenges and Future Trends to Monitor Energy Usage in Shared Spaces
Managing energy in multi-tenant buildings takes a lot of work. Every tenant or department has unique energy needs that fluctuate depending on factors like working hours, business operations, and HVAC requirements. Without an efficient system in place, pinpointing inefficiencies or waste can be difficult.
For example, a business may unknowingly pay for another tenant’s excessive energy use due to inaccurate billing practices, or property owners might overspend on utilities by failing to identify peak energy usage times.
Advanced energy monitoring systems can help you address these challenges by providing real-time data, ensuring accurate billing, and allowing you to manage energy consumption more effectively across your building. However, it comes with its own set of challenges, and the landscape is rapidly evolving with promising trends. Let’s explore both aspects.
High Initial Costs
Implementing advanced energy monitoring systems, such as IoT sensors or smart meters, often requires significant upfront investment. This can be a barrier, especially for smaller organisations or older buildings with legacy infrastructure.
Data Integration Issues
Many shared spaces use a mix of old and new systems, creating challenges in integrating energy data into a unified platform. Consistent or complete data can ensure accurate monitoring and analysis.
Tenant Engagement
It can be challenging to convince tenants to adopt energy-efficient behaviours. Transparency in energy usage data is crucial, but resistance to change and differing priorities often complicate implementation.
Regulatory Compliance
Adapting to evolving regulations, such as mandatory energy usage disclosures, can be complex. Non-compliance may result in penalties, so organisations must stay updated.
Overcoming the challenges of energy monitoring in shared spaces requires adopting innovative solutions and engaging all stakeholders. Proactively addressing these aspects will not only reduce costs but also contribute to a greener future for shared buildings.
So, what challenges do you see in your shared spaces? Explore how innovative tools like Crib’s smart Meter can help overcome them!
Optimising Shared Business Buildings 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.
Monitoring energy usage in shared spaces has never been easier, thanks to tools like Crib's Smart Meter. Designed with simplicity, it provides actionable insights to improve energy efficiency, manage costs, and meet sustainability goals.
Some of its top features are:
Monitors Energy Consumption
Track energy usage in real-time across devices, tenants, or systems. This provides detailed insights into where and how energy is consumed, ensuring better energy management and helping identify potential inefficiencies.
Collect Bills Automatically
Streamline billing processes by automatically generating energy bills based on consumption data. This eliminates manual calculations, ensures transparency, and reduces the risk of errors for tenants and property managers.
Forecast & Predict Monthly Energy Bill
Historical data and current usage trends can be used to estimate monthly energy costs accurately. This predictive feature aids in budgeting and allows businesses to take proactive measures to control expenses.
Check Your Real-Time Power/Energy Consumption Instantly
You can access energy usage data remotely through mobile, desktop, or web applications. This flexibility allows for easy monitoring and adjustments, even when you’re away from the building.
Control Your Device from Anywhere (Switch On/Off)
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.
Get Analytics on Your Daily Usage
Analyse daily energy consumption patterns to identify trends, optimise performance, and implement energy-saving measures. These insights enable informed decision-making for better energy management.
Inbuilt Meter Communication System
An integrated communication system ensures seamless data transfer from meters to monitoring platforms. This feature eliminates the need for manual readings and provides accurate, real-time information.
Use as Prepaid/Postpaid on Single Device
Enable 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.
Take charge of your building's energy consumption today with Crib. Learn more about how it can help your shared space thrive.
FAQs
Why is energy monitoring essential for shared buildings?
Yes, energy monitoring ensures fair cost allocation, identifies inefficiencies, and supports sustainability goals. It helps property managers distribute utility costs transparently among tenants while avoiding disputes. Additionally, monitoring highlights patterns in energy use, enabling proactive maintenance and optimising system performance.
How is energy used in buildings?
Energy in buildings is primarily used for heating, cooling, lighting, and powering equipment or appliances. Depending on the building type and occupancy patterns, HVAC systems often consume the most energy, followed by lighting and plug loads. Proper energy management can significantly reduce unnecessary consumption.
How much energy is used by businesses?
The actual consumption varies by industry, with manufacturing, retail, and office spaces being some of the largest consumers. Implementing energy-saving technologies can dramatically reduce this footprint.
How does a Crib Meter help reduce energy costs?
Crib’s smart Meter tracks real-time data, identifies waste, and helps optimise systems for efficiency. Its intuitive interface makes it easy for businesses to monitor usage patterns and identify problem areas. By providing actionable insights, the Crib Meter empowers managers to effortlessly implement cost-saving strategies.
Can energy monitoring reduce a building’s carbon footprint?
Yes, energy monitoring significantly reduces emissions by identifying inefficiencies and optimising usage. For shared buildings, this means smarter energy use across tenants and systems, supporting a greener future. Tracking and addressing waste also aligns with global sustainability goals, making it easier to meet regulatory standards.
