Energy accounting is a system used to measure, analyze and report the energy consumption of different activities on a regular basis.[1] This is done to improve energy efficiency,[2] and to monitor the environment impact of energy consumption.[3]
Energy accounting is a system used in energy management systems to measure and analyze energy consumption to improve energy efficiency within an organization.[2] Organisations such as Intel corporation use these systems to track energy usage.[4]
Various energy transformations are possible. An energy balance can be used to track energy through a system. This becomes a useful tool for determining resource use and environmental impacts. How much energy is needed at each point in a system is measured, as well as the form of that energy. An accounting system keeps track of energy in, energy out, and non-useful energy versus work done, and transformations within a system. Sometimes, non-useful work is what is often responsible for environmental problems.[5]
The newer systems are trying to build predictive models of consumption. Startups are aiming to revolutionize this approach by introducing AI-based predictive models. These models can analyze vast amounts of data to forecast energy usage patterns, identify inefficiencies, and optimize energy distribution in real-time. By leveraging machine learning algorithms, these systems can learn from historical data and continuously improve their accuracy, providing organizations with powerful tools to enhance energy efficiency and reduce environmental impact. This shift towards predictive analytics represents a significant advancement in energy accounting, enabling more proactive and intelligent energy management.[6][7]
Energy returned on energy invested (EROEI) is the ratio of energy delivered by an energy technology to the energy invested to set up the technology.
