|By PR Newswire||
|January 13, 2014 12:31 PM EST||
NEW YORK, January 13, 2014 /PRNewswire/ --
January's record-breaking cold front, also named the polar vortex, was an extreme weather pattern that affected nearly 80 percent of North America. Based on statistics gathered from more than 4,000 energy measurement points at over 250 sites across North America, Panoramic Power was able to compile data revealing that off-hour energy consumption, incorrect temperature settings and inefficient equipment contributed to significant financial losses during the extreme cold snap.
The company reports that the storm resulted in unusually high levels of energy consumption and device failures at multi-site retail chains and large square footage commercial buildings where Panoramic Power energy sensors are installed. One common theme from this data is how a lack of proper energy planning contributed to financial loss and a disruption of business.
Some of the data findings include:
- 10 percent of retail stores had non-functional heaters or boilers
- There was a 30 percent increase in off-hour energy consumption
- The largest impact was specifically in places such as Texas that do not normally use heating equipment with over 400% increase in overall energy consumption
- Efficiency of heating equipment dropped by 30% during the peaks of the storm resulting in 30% excessive energy consumption during operating hours
"The "polar vortex" weather system that blasted North America with extreme cold resulted in financial loss for many businesses that did not have strategic energy management technology in place," said Yaniv Vardi, CEO at Panoramic Power. "This is a wakeup call for enterprises to place a higher priority on their proactive energy management technology strategy. Best-in-class companies can prevent financial losses due to inefficient energy consumption and poor facility maintenance data."
As weather patterns continue to disrupt businesses and their infrastructure, companies must implement technology that provides visibility into energy consumption at the system level. They also need data and analytics that reveal usage patterns and trends, and identify maintenance issues before failures occur. This will result in operational processes that leverage intelligent data to optimize energy use and reduce consumption across a retail chain's portfolio.
Using Panoramic Power's affordable energy management solution coupling non-invasive device-level technology and cloud-based analytics, companies across a wide range of retail and commercial industries gain actionable insights into their energy usage and are able to prevent device malfunctions and reduce energy costs.
For recommendations on next steps and access to an energy expert, visit http://www.panpwr.com
About Panoramic Power
Panoramic Power is the leading provider of circuit level energy management solutions - enabling businesses to optimize their energy consumption, improve operational efficiency and generate income through load response programs. Using its innovative and affordable circuit-level cloud-base analytics solution, companies across a wide range of retail and commercial industries gain insight into their energy usage and are able to optimize operations, processes and maintenance resources.
For more information, visit http://www.panpwr.com
SOURCE Panoramic Power