Invendis Technologies acquires Eltrac Technologies to Foray into Smart Energy Meter business
December 20, 2021
IMPORTANCE OF METERING THE ENERGY CONSUMPTION IN REDUCING ENERGY WASTAGE
In 2020 world’s energy consumption amounted to 556.63 exajoules. The consumption fell by 4% during pandemic due to lockdown measures and restricted transportation. The world's electricity consumption amounted to approximately 23,398 billion kilowatt hours, or 23,398 terawatt hours in 2018. The evaluation by statisticians’ revel that there are huge losses and energy wastage close to 72% through the entire process of energy generation, transmission, and distribution.
- 59% lost during generation
- 5-7% lost during transmission & distribution grid
- Only 34% of electricity reaches consumers
- Once it reaches the consumers, there is further loss of 30% due to inefficiency in converting energy to useful services
LOSSES THROUGH THE ELECTRIC DELIVERY SYSTEM
There is a huge negative implication on the world economy and environment due to energy losses. There is tremendous wastage of facilities in power plants, T&D facilities, consumer devices and appliances as well as wastage in environmental primary energy resources. This results in huge capital expenses ultimately paid by consumers and huge environmental impact leading to carbon footprints
HOW TO OVERCOME ENERGY WASTAGE PROBLEM FOR A BETTER TOMORROW?
The current rate wasting the energy resources is not sustainable. The world simply cannot continue consuming at a rising rate while resources begin to fall, because at some point, there will be no resources left to consume. To achieve harmony with the environment, fewer resources need to be consumed. There are three main ways in which we can reduce wastage of energy consumption
Energy management needs to be done to save the Energy. Energy needs to be saved globally for the following reasons:
- Reduce our dependence on the fossil fuels that are becoming increasingly limited in supply.
- Reduce the damage we are doing to the planet earth.
One of the best techniques to be followed for doing Energy Management is Metering the Energy Consumption of the Consumers. This helps in the following ways
- Monitoring the energy consumption
- Identifying the opportunities to save energy
- Estimating how much energy each opportunity could save
- Using the meter data to find and quantify routine energy waste and to also investigate the energy savings
Data Credits: Global Energy Statistical Year Book 2021, Our World data, Wikipedia
