The biggest question many professionals and consumers alike have about energy monitoring is whether or not it actually works. The Electric Power Research Institute (EPRI) recently conducted a home electricity use study. This study looked at various factors, one of which was the home energy monitor. They found that using an energy monitor could result in savings of 8-25%. EPRI conducted further research into this area and concluded that these energy monitoring devices could save up to 20%. Further research conducted at Oxford University found that real-time energy monitoring can help users cut their energy bills by 5-15%. According to ACEEE the saving could reach 12%. If you average these studies together you are looking at a savings of 6-18%.
According to Energy Star the average energy bill is $2,200 a year. At this rate you would expect to see a monthly energy bill of $183.33. Obviously there would be some fluctuation based on the seasons but this is the average. At a savings of 6-18% you could expect to see $11-$33 a month, or up to $396 saved a year! Minimally energy monitoring results in $132 in savings annually. Most customers that are interested in energy monitoring are looking for a reasonable return on investment, considering the minimum savings an effective energy monitor should not cost more than $132.
There is a wide range of monitors available on the market, many of which meet this criteria. One in particular that has sold over a million units is the Envi home energy monitor. The Envi utilizes CT clamps attached at the electrical panel and since it does not interface with the meter the chances of it not being compatible are almost non-existent. If you come into contact with a customer interested in monitoring their energy present them with the facts. 6-18% is a considerable amount of savings.
Forward Energy Solutions, Inc.
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