It’s high time banks tighten their Energy Management

It’s high time banks tighten their Energy Management
A pound invested in energy efficiency buys seven times more energy solution
than a pound invested in nuclear power.
Banking firms, like other businesses, need the support of energy analytics to be
able to optimise operating costs. But the energy management systems that they
apply can't be obsolete. It should be modified to provide practical facility
management.
Millions of dollars are spent annually for the energy required to run a banking
network. Banks spend up to 40-80% of its overall consumption on its branches,
data centres, and ATMs. Although banks manage to address the consumption in
data centres and head offices, branch offices still remain out of their control.
This is mainly because:
The branches are spread across locations too much to take steps for energy
efficiency.
It is difficult to apply a common energy saving strategy for all the branches as
the branches, located at diverse locations, have operating schedules that suit the
local formats.
Integrating an energy management system (EMS) is a huge challenge if the
branch spaces are not owned by the bank. Even if it is owned, there are too
many stakeholders involved to be on the same page easily.
The designs of most energy efficiency infrastructure do not suit smaller set ups.
There are companies that recognise the banking industry's operational
challenges and offer high-impact energy management services to meet such
challenges. Wipro EcoEnergy, for instance, customises an energy saving
solution for identifying savings opportunities. By saving energy costs, banks
can optimise its staff's comfort, better serve the customer, and bring more
profits.
To set and achieve energy efficient targets, banks need energy management
platform that can provide real-time interventions so that they can reduce
emissions and also save costs considerably.

For modern banking, with its increasing energy usage and network expanse,
comprehensive energy analytics is all the more essential. So, it is no more an
option for banks to upgrade their EMS, but an urgent need, if they want to
ensure hassle-free and secure operations.
HVAC is the biggest cause of energy drain, but is also controllable, so can also
be the fastest way to save energy costs. Banks can integrate into their systems
sensors to monitor all energy consumption sources.
As a step towards higher energy efficiency, banks can do away with split
heating and cooling or HVAC. Instead, they can use a centralized energy
management system, which will help them monitor as well as seamlessly gather
data of each location. With this, facility managers get a control over the
performance of every split system, and alerts in case of an equipment problem.
Getting visibility -- onsite as well as remotely – of an energy system is possible
by getting installed internet driven EMS. A dedicated monitoring team can track
the banking firm's energy consumption in real time and take quick measures to
keep it within the set budget.
The constant watch enables the administration to immediately start corrective
measures for any anomaly it detects before it leads to mechanical malfunctions.
Remote monitoring also ensures that the energy saving system is being made
optimum use of and is helping in saving energy and costs as expected.
An upgraded EMS also means automation, which naturally speeds up processes
and provides a boost to the staff's productivity. It also cuts down energy
consumption and, as a result, the overall costs.
Energy efficiency also involves elimination of paperwork and maximum use of
technology. This reduces the time and costs involved in gathering, analysing,
and disseminating data for efficient processes. The cost of a bank's support
function (e.g IT) can be brought down significantly by clustering or centralising
them in specialised centres with lower labour and real estate costs.
Companies which offer services to tackle energy management challenges create
a strong analytics framework to help banks discover energy saving insights. The
challenges arise out of the diverse consumption patterns and conditions of
branches at various sites. A comprehensive analytics-driven platform with a rich
database simplifies the process by helping overcome the complications.

While on one hand compliance with the environmental regulation is weighing
on the banks, on the other hand, they also have to deal with the rising prices. By
adopting an efficient energy management system, banks can now achieve both.
As I discussed above, a strong control over bank branches' energy usage helps
bring down equipment downtime, which in turn reduces further operational
disruptions. This gives the bank a competitive edge by enabling it to reduce
carbon footprint. This again gives a boost to its brand image as an environmentfriendly
bank.
Source: Wipro EcoEnergy