The world’s population is on the rise. With this population increase, our demand for energy is also increasing. The major part of today’s energy needs are met from non-renewable resources like coal and natural gas. There is also an increase in the share of renewable and non-conventional resources like wind, sun (solar), tidal etc. being used around the world. All of the systems mentioned till now deal with increasing the energy output available for consumption. But producing more is not necessarily the answer to our energy problems. Trying to produce more energy will only exert a strain on resources like fossil fuels.
A better solution to the energy problem lies in the optimization of energy use. The effective utilization of produced energy is gaining attention with the increasing popularity of energy management systems. Modern energy management systems help to increase the energy efficiency of factories, commercial buildings, homes etc. This increase in efficiency includes reduction of the energy consumption of these places in addition to controlling and maintaining the working or living conditions in these places at an optimum level. Energy management systems also find application in power generation, transmission and distribution stages.
Energy management includes a number of steps. The energy consumption of the home or building or factory is first analyzed. Venues for implementing power savings are identified, and action is taken to effect these identified savings. These steps are again repeated.
Environment regulation policies are being implemented by governments around the world which aim at reducing energy consumption. These policies have served as a major driving factor for the promotion of the energy management systems market. Energy management systems also help institutions and homes in working around the problem of increasing energy prices by reducing their net energy consumption.
There is also an increased initiative among organizations to optimize their energy consumption. More and more people are also identifying the savings that can be achieved by implementing energy management systems in their homes. These factors are driving up the market for energy management systems.
The European Union and individual governments in Europe are actively promoting energy management in the region. A large number of regulations have already been implemented, and more are being planned, to meet energy savings targets that the EU nations have agreed upon. Various funding schemes are available for research as well as implementation of energy management technologies. Europe also aims to reduce its consumption of fossil fuels for power generation, a goal that it intend to achieve through energy savings. Institutions are also encouraged to pursue their own savings targets. Retrofitting of existing buildings and homes, to include energy management systems is also on the rise in Europe. EU nations are also promoting new buildings to become very high on energy performance with the nearly-zero energy requirements for new buildings. All of these definitely make Europe an important market for energy management systems.