With energy management’s vital role across various sectors, startups such as Ecolibrium Energy, LoudCell, and REConnect are providing energy management solutions and forecasting to large and medium-scale manufacturing and retail companies in India. These startups can improve power and fuel efficiency through real-time data analytics forecasting, sourcing of power, and switching to green energy where possible.
Ecolibrium Energy, based in Ahmedabad has a hardware device along with software support on the cloud, which helps clients get real-time data of energy consumption on their premise, they also help them take steps to optimize energy utilization, plug leakages as well as help them access the cheapest source of power. The company has more than 500 clients including companies like Delhi Metro, Fiat, Arora Steels, Saint Gobain, etc. Companies who invested in their technology saw energy costs go down to 10-25%.
The company was started in 2012, and has been incubated by IIM-A, and has also received funding of Rs 7.5 crore from the international finance corporation & infuse capital. They targeted revenue of 12 crores in the next 2 years.
Harsha engineering a client of Ecolibrium Energy said that using their technology, the utility cost has come down to 20% and machine running costs have come down to 12%. They have been able to reduce transmission losses by 6%. With their device, they have also been able to replace manual reading with software reports.
LoudCell Technologies had increased the accuracy of their energy reading which helped them take better decisions to raise optimal energy consumption. They also addressed a huge amount of wastage that takes place in diesel consumption. The startup uses a device fitted in diesel generators and helps clients with real-time data on the efficient running of generators, pilferage, and leakages.
Energy management platforms also have a big potential in developing countries, especially in India and China, where sustainable energy supply and energy security are among the main issues of the following decades. Presently, it is still too early to talk about the beginning of the rapid growth of such platforms in developing countries. However, internet technologies have repeatedly shown their ability to spread over the world in just a few years. The rapid growth of Internet users in India and China, whose number in the coming years could exceed 1 billion, as well as the need for energy-saving measures, can stimulate the future development of energy management platforms in developing countries.