3 energy management trends to watch in 2023

In a time with economic uncertainty, unrest in the energy market, and ever-increasing awareness on the pressing green agenda, energy consumers have become significantly more energy-aware in the last few years.

This is evident in public buying behaviors, looking to drive down rising household costs and business expenses in a variety of ways such as moving to sustainable buildings and/or taking part in the growing energy prosumer segment.

Explore 3 energy management trends to watch in 2023 below:

1. Energy-savings are still high on customers' agenda - help them gain energy-awareness
2. Sustainable building demanding smart energy monitoring
3. The rise of energy prosumers

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1. Energy-savings are still high on customers' agenda - help them gain energy-awareness

With the current energy situation, consumers and customers are looking for better ways to manage their energy consumption and, in turn, lower their energy costs.

We have seen a significant increase in energy-awareness with consumers and various energy awareness tools appearing – such as apps informing you when the energy price is lowest – and if the instability on the energy market continues, this trend is expected to increase further.

This presents an advantageous position in the market for energy businesses and 3^rd party service providers that can offer insights and control into their customers’ energy consumption and help them reduce energy costs by offering tailored advice based on these unique insights.

IoT has shown great potential in helping both businesses and consumers use energy more efficiently. Sometimes called the Internet of Energy (IoE), these energy-related IoT devices can help save energy in homes, commercial buildings, multi-dwelling units, and more.

This can be achieved with energy monitoring and control devices such as smart plugs, smart relays, and meter interfaces that can measure how much energy is consumed by which devices at what time and enable load management at a local level.

Learn more about how you can enable energy savings with IoT to better help and meet customers' demands.

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2. Sustainable building demanding smart energy monitoring

Sustainable building is a fast-growing trend with new sustainable building projects emerging around the world.

Besides using sustainable materials, aspects such as energy consumption and management also play a big role here.

In terms of energy, the goal of sustainable building is to consume only the energy as is needed for the operation of the building and to attain zero energy waste.

This can be achieved through smart energy monitoring using IoT devices that enable building administrators or homeowners to track and reduce their consumption.

Learn more about how to enable energy savings through smart energy monitoring with IoT.

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3. The rise of energy prosumers

The segment of consumers and customers who wants to take matters into their own hands when it comes to energy production is on the rise.

The so-called prosumers are individuals or groups who take part in the production of a product or service that they also consume.

The phenomenon is especially taking off in the energy and electricity industry where more and more consumers are setting up solar panels, wind turbines, and other energy-producing devices on their private property.

Although this trend is not brand new, the large growth of this prosumer segment means clear business opportunities for companies in the energy sector looking to expand their business and meet new consumer needs.

Enabled by new forms of renewable energy and flexible energy production technologies such as solar panels, this development is also made possible by smart technology necessary to monitor and administer the private energy consumption and production connected to the electricity grid.