Issue link: https://resources.tangoanalytics.com/i/1516392
Increasing digital investments and enhancing operational tactics will be key to overcoming the looming challenges facing the utility industry, especially as sustainability reporting regulations necessitate tools and technology for non-financial data to operate with the same rigor as financial reporting. Through digitalization, electric utilities are now able to engage with their customers in a much more personalized and efficient manner, while balancing clean-energy transition goals and compliance with reporting mandates against customer affordability. Sustainability and energy data management software systems like WatchWire will help utilities increase efficiency, improve resiliency, and provide much-needed security of data and grid reliability. HOW CAN WATCHWIRE HELP? EMPOWER CUSTOMERS TO REDUCE ENERGY USE Utilities, as the main distributors of power, can assist their customers by helping them manage (and ultimately, reduce) their energy use. If a customer has multiple facilities or buildings in different utility service areas, it will be a tedious and time-consuming process to manage their energy use and utility bills manually. The different utility bills and meter data will have to manually be uploaded into one place, e.g., an Excel spreadsheet. Technology, like a customer engagement platform, automates this process, allowing customers to see their data in one place with actionable insights, so they can manage and reduce their energy use. With access to real- time data on energy consumption and costs, customers can make informed decisions about their energy usage. DECARBONIZATION As the main suppliers of power, utilities have a key role to play in achieving a net zero economy. Going digital can help utilities both reach their own net zero goals and better assist their customers in becoming carbon neutral. Utility companies, especially in the United States, have a key role to play in the clean energy transition, from updating the aging electrical grid to offering renewable options. Technology like customer engagement software enables utilities to engage their customers with compelling and personalized energy and sustainability data, allowing customers to lower their energy use, measure the effectiveness of their distributed energy resources and efficiency projects, and more. EASILY PREPARE FOR PEAK LOAD DAYS Technology like customer engagement software can help your company prepare for peak load days by providing peak load alerts and peak load management assistance, which means blackouts are less likely to occur resulting in fewer emissions. When the inevitable blackout does occur, the utility has a way to alert customers of shutoff times and anticipated returns to service. This data assists providers in optimizing their grid operations, ensuring efficient energy distribution, and reducing waste. Sustainability & Energy Management Simplified By analyzing customer usage trends, utilities can improve their program offerings, like implementing demand response programs, offering varying forms of renewable energy sources, energy conservation incentives, and more. VISIBILITY INTO CUSTOMER TRENDS TO IMPROVE OFFERINGS