Effective use of energy resources is becoming more and more necessary as the demand for energy keeps rising. The need to develop an energy management system has emerged as a solution to help businesses manage their energy consumption.

According to Statista, the global energy management market is expected to expand by $16.3 billion by 2029. This shows the demand for energy management software will increase in the coming years. Due to this, many entrepreneurs are looking to invest in energy management software development. So, if you are also one of those, then read this blog till the end.

In this blog, we will discuss the steps to build a cloud-based energy management system, key features, costs, benefits, and other vital aspects. It will help you build an amazing solution that can take your business to the next level.

So, let’s begin!

What is an Energy Management System?

An EMS software gathers energy metrics, compares them across the entity’s locations, and assesses how well they perform in comparison to their market counterparts. As it can be linked to the gas and electricity markets. In addition, it gathers the daily prices of the major energy indices and facilitates budget tracking and energy bill anticipation.

This data is arranged by the energy management software development system so that energy usage can be rapidly seen by the office, store, warehouse, or plant. This facilitates the creation and distribution of regular reports to all stakeholders as well as the tracking of changes over time.

Future Predictions and Projections of Energy Management System

Source: Statista

• It is anticipated that the global energy management market will generate $10.0 billion in revenue by 2024.
• With a projected annual growth rate (CAGR 2024-2028) of 10.75%, the market is expected to reach a size of US$15.1 billion by 2028.
• Additionally, by 2028, it is anticipated that there will be 607.7 million active households in the Energy Management market.
• By 2028, the household penetration rate is expected to rise from 9.0% in 2024 to 25.7%.
• As of right now, the average revenue per Smart Home installed is estimated to be US$49.88.

4 Different Types of Energy Management Software

When you develop an energy management system for your business, it is vital to be well-versed in its types. It will help you know which type of software you want to build. So, here are some of the popular types of EMS that you must check out given by a custom software development services provider:

1. Building Energy Management Systems

The purpose of building energy management systems is to monitor energy consumption and waste by connecting the HVAC, lighting, fire, and plant room equipment systems of a commercial building onto a single software platform.

Energy efficiency can be increased by 10–30% by building owners, operators, and occupiers using BEMS technology to optimize energy use and lower costs across multiple facilities.

2. Home Energy Management Systems

Household energy generation, storage, and consumption are tracked by home energy management systems. Typically, a smart home energy management system optimizes for a goal. For example, minimizing emissions, maximizing self-sufficiency, or cutting cost of custom software development.

3. Industrial Energy Management Systems

Continuous monitoring, analysis, and enhancement of a facility’s energy consumption are all part of industrial energy management. This covers everything, including lighting, HVAC systems, lighting, and the operation of machinery and equipment.

4. Community Energy Management Systems

The idea behind community-oriented energy management systems is to use various energy management systems in electric vehicles​ appropriately. For instance, BEMS, HEMS, and IEMS are used to control and lower a community’s or the city’s overall electricity usage.

5 Steps To Develop an Energy Management System

Finally, when you are ready to start creating an energy management software solution, below are the steps to follow. Let’s have a look:

1.  Identify Key Requirements

Before you build EMS software, you should understand the needs of your target audience like industries, businesses, or households. Also, if you verify your idea with an IT consulting services provider, it will be beneficial for further processing.

The team collects information on issues related to energy use, reporting needs, and optimization objectives. This step makes sure your software for energy management​ has capabilities like data analytics, energy tracking, and real-time monitoring.

2. Design User-Friendly Interfaces

As you are now aware, energy management software must have a smooth and user-friendly interface. So, the designers make dashboards and tools that simplify energy consumption tracking. They also ensure that accessibility is given top priority in the UI/UX. It facilitates decision-making by providing users with clear data visualization and simple navigation.

3. Choose the Right Tech Stack

After designing the user interface, the development team will choose the best technology stack. It needs to fit the functionality and scalability of the software. If you want IoT-based software, then ask the energy management software development company to use technologies like IoT for energy tracking and AI for predictive analytics. A strong technological base improves the software’s dependability and efficiency.

4. Develop and Test the Software

Now finally, the development will develop an energy management system software based on the identified features and technology. However, you should give priority to modules that allow for smart device integration, automated alerts, and energy tracking.

The software testing services team will thoroughly test your software after it has been developed in order to find errors, guarantee data accuracy, and improve performance. Beta testing with a small user base is something you should try. It can help you in providing valuable feedback.

5. Launch and Maintain

Once testing is complete, the developers deploy the software on chosen platforms. Additionally, you can offer resources or energy management systems training​ to help users get the most out of it. But one thing you must not forget is software maintenance. After the launch, make sure there is ongoing monitoring and updating to take user feedback into account, address security issues, and incorporate new technologies.

10 Key Features To Build an Energy Management System

To effectively manage your energy needs, you need a software program with a variety of features. No matter if it is utilized in buildings, restaurants, offices, or somewhere else. Let’s see the key functionalities you must consider for energy management software development.

1. Real-time Energy Monitoring

On a dashboard, users can view their energy consumption in real-time, much like they would with a speedometer.

2. Historical Data Analysis

Users can find patterns and pinpoint areas for improvement by reviewing historical energy trends.

3. Automated Alerts and Notifications

Hire a software development services provider to integrate automated alerts into software. It assists users in receiving timely alerts for possible problems or anomalous energy spikes.

4. Remote Control and Scheduling

With this feature, users must be able to remotely schedule and manage energy use with your software, even when they are not present.

5. Integration with Building Automation Systems

For smooth control, this feature facilitates the connection of your energy management system to other building systems.

6. Energy Efficiency Recommendations

By incorporating this feature, users will receive personalized recommendations on how to save money and energy.

7. Carbon Footprint Tracking

Your software needs to track your progress toward sustainability goals and keep an eye on your environmental impact.

8. Energy Consumption Forecasting

You can use the past data and current software development trends with this feature that enables users to forecast future energy requirements.

9. Financial Reporting

Users must be able to create reports on energy expenses and savings using your software in order to make well-informed financial decisions.

10. User-Friendly Interface

Even if you are not an expert in technology, you can still easily navigate and interact with the enterprise energy management system.

On-premises vs Cloud-based Energy Management System 

Where to host the software is a question you will undoubtedly face during the software development process. Do you want a modern approach with a cloud-based solution, or do you want an EMS with on-premises data centers? To make this confusion clear, let’s differentiate between on-premises and cloud-based EMS.

5 Benefits of Energy Management Software Development

Now that you know the popular energy management software, it is vital to know the benefits of developing such software for your business. So, here are the reasons of investing in energy management software development. 

1. Efficiency

The energy management software development services provider start a software development project. You can create a system that can assess your energy consumption and assist you in coordinating it with your needs.

You can detect irregular, excessive, or superfluous energy use and address this issue with the aid of your personalized energy management solution. It thus encourages energy efficiency.

2. Precise Data

Having a better idea of how much energy you use at any given time aids in decision-making. You can get regular information about energy use in your company from a smart energy management system. It lets you make the best use of your energy resources.

3. Reduced Costs

Your operating expenses can be significantly reduced by putting in place an energy management system software. The system continuously monitors energy use over a predetermined period of time.

You can utilize this data to determine your energy usage, which helps you in cost predictions. By choosing wisely, you can save a substantial sum of money. It can assist you in lowering operating expenses by optimizing your energy usage.

4. Better Control

With the data and visualization, managers can optimize energy use and react swiftly to alerts. Effective energy control systems enable businesses to manage a variety of tasks from one location. You can develop wind turbine monitoring software that are able to identify issues and address them promptly.

5. Evaluation

Switching to renewable energy is another way to lessen the environmental impact. However, before switching to alternative energy sources, businesses must undergo a thorough assessment. Through data and analytics, EMS can assist businesses in analyzing the opportunities and risks associated with alternative energy sources.

How Much Does It Cost to Develop an Energy Management System?

Software complexity and functionality are the two factors that affect the cost to develop an energy management system. So, the energy management software development cost can vary and depends on the solution you want to build. Typically, the cost ranges from $10,000 – $30,000. Let’s now look at the table of cost to build an energy management system.

Furthermore, the real cost may be higher as these are only approximate estimates. It depends on a number of variables, including the kinds of connected devices and the quantity of features.

Besides, you also need to know the software maintenance costs of EMS software. It generally lies between $1000-$5000 annually. Now that you know the cost of developing energy management software, let’s now move on to the next section.

How To Monetize Your Energy Management Software?

Energy management software development solutions offer a wealth of opportunities for monetization. Here are some effective strategies to consider given by a software product development company:

1. Subscription Model

Simply charging clients a regular fee to access your energy management software can generate a sizable income. This can be based on plans that are monthly, quarterly, or annual, with different tiers providing different levels of support and features.

2. Energy Market Participation

Connect the energy markets to your renewable energy asset management software​. You can sell extra energy back to the grid and allow customers to take part in demand response programs. Either a commission or a portion of the sales can be charged.

3. Energy Efficiency Services

You can increase your revenue by adding energy efficiency implementation and consulting services to your list of offerings. To support these services, your software can offer useful data and analysis, creating new sources of income.

4. Partnerships and Integrations

You can work with other companies that deal with energy, such as utility companies, energy consultants, and hardware suppliers. Cross-selling and upselling opportunities, as well as new markets, can be created by these collaborations.

Final Thoughts

Energy management software development is a major investment that a business can make in its pursuit of cost reduction and energy efficiency. One can design a highly advantageous solution by determining the types, features, costs, and technology stack of EMS.

Thus, if you are planning to develop an energy management system, hire a software development company like Dev Technosys. It can improve project results by providing you with a highly customized and safe energy management system. So, what are you waiting for? Contact us right away for an amazing energy management system solution.

FAQs

Q1. How Much Does an Energy Management Software Cost for Development?

The cost to make an energy management system can range between $10000 – $30000. However, the level of software complexity and functionalities will affect the overall energy management software development cost.

Q2. How Long Does It Take To Create an Energy Management System?

The estimated time for building energy management software​ depends on your project requirements. Typically, it can take around 2–6 months to build simple EMS software.

Q3. How To Build Energy Management Software?

If you want to develop next-level energy management systems, follow the below steps.

• Conduct market research
• Know your competitors
• Design the user interface
• Develop the backend
• Test and implement
• Maintain and update

Q4. How Does Energy Management Software Work?

• Monitor Energy Usage: You can track real-time energy consumption across different areas or devices.
• Analyze Data: Now identify energy trends, inefficiencies, and cost-saving opportunities.
• Set Goals: You can establish energy reduction targets and track progress over time.
• Implement Strategies: Now automate energy-saving measures like scheduling and load shedding.
• Generate Reports: Finally, create detailed reports for analysis, decision-making, and compliance.

Q5. What Are the Best Energy Management Software?

• Fluentgrid CIS
• Quickbase
• EnergyCAP
• Rosmiman