{"id":47732,"date":"2023-04-05T06:29:07","date_gmt":"2023-04-05T10:29:07","guid":{"rendered":"https:\/\/www.kaspersky.com\/blog\/?post_type=emagazine&#038;p=47732"},"modified":"2023-04-05T06:29:07","modified_gmt":"2023-04-05T10:29:07","slug":"insight-story-smart-energy","status":"publish","type":"emagazine","link":"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/insight-story-smart-energy\/47732\/","title":{"rendered":"As bills rise, smart businesses are saving with smart energy tech"},"content":{"rendered":"<p>Alongside emissions reduction goals, energy prices have hoisted reducing energy consumption to the top of business agendas. In the UK, between 2022 and 2023, <a href=\"https:\/\/www.ons.gov.uk\/economy\/inflationandpriceindices\/articles\/costoflivinginsights\/energy\" target=\"_blank\" rel=\"noopener nofollow\">electricity prices rose 67 percent and gas prices 129 percent<\/a>. <a href=\"https:\/\/www.usatoday.com\/story\/money\/personalfinance\/2023\/01\/24\/electricity-prices-inflation\/11089430002\/\" target=\"_blank\" rel=\"noopener nofollow\">In the US, energy prices are up as much as 40 percent<\/a>.<\/p>\n<p>It\u2019s no longer a case of, should businesses cut their energy use, but how? Many organizations are looking for technologies that can help them better control their power use and use more renewable energy.<\/p>\n<p>As I wrote in this <a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/electricity-history\/36914\/\" target=\"_blank\" rel=\"noopener nofollow\">primer on electricity\u2019s history<\/a>, a shocking 13 percent of the world\u2019s population, mostly in sub-Saharan Africa, have no access to electricity. Could more business investment in renewables help to bridge the gap?<\/p>\n<p><a href=\"https:\/\/insight-story.podbean.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Kaspersky\u2019s new podcast, Insight Story<\/a>, unpacks emerging tech trends with global specialists and businesses successfully using the tech. Episode 2 looks at smart energy. I speak with <a href=\"https:\/\/www.linkedin.com\/in\/ferozkoor\/?originalSubdomain=za\" target=\"_blank\" rel=\"noopener nofollow\">Feroz Koor<\/a>, Group Head of Sustainability at <a href=\"https:\/\/en.wikipedia.org\/wiki\/Woolworths_South_Africa\" target=\"_blank\" rel=\"noopener nofollow\">Woolworths Holdings. South Africa<\/a> and Singapore-based <a href=\"https:\/\/www.linkedin.com\/in\/nileshyj\/?originalSubdomain=sg\" target=\"_blank\" rel=\"noopener nofollow\">Nilesh Jadhav<\/a>, Founder and CEO of <a href=\"https:\/\/www.btrlyf.com\/\" target=\"_blank\" rel=\"noopener nofollow\">BtrLyf<\/a> creators Qi Square, and former Programme Director, <a href=\"https:\/\/www.ntu.edu.sg\/erian\/research-focus\/flagship-programmes\/ecocampus\" target=\"_blank\" rel=\"noopener nofollow\">EcoCampus initiative<\/a>, Nanyang Technological University.<\/p>\n<p><a href=\"https:\/\/www.btrlyf.com\/\" target=\"_blank\" rel=\"noopener nofollow\">BtrLyf<\/a> is an \u201cAI-enabled assessment and marketplace platform to plan and achieve super-low energy, net zero and green certified buildings, quickly and at super-low costs.\u201d It creates \u2018<a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/singapore-digital-twin-city\/40634\/\" target=\"_blank\" rel=\"noopener nofollow\">digital twins<\/a>\u2018 that let businesses model a range of energy conservation measures to find out what will work best.<\/p>\n<p><iframe style=\"border: none;min-width: min(100%, 430px)\" height=\"300\" scrolling=\"no\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=6tikn-13cad0a-pb&amp;from=pb6admin&amp;pbad=0&amp;square=1&amp;share=1&amp;download=1&amp;rtl=0&amp;fonts=Arial&amp;skin=1b1b1b&amp;font-color=auto&amp;logo_link=episode_page&amp;btn-skin=2baf9e&amp;size=300\" width=\"100%\"><span data-mce-type=\"bookmark\" style=\"width: 0px;overflow: hidden;line-height: 0\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<h2>Slashing grocery energy bills<\/h2>\n<p>Woolworths has some 1,400 stores in Sub-Saharan Africa, Australia and New Zealand selling groceries, clothing, homeware and more.<\/p>\n<p>\u201cRetail food businesses have a large energy footprint,\u201d says Feroz. Sustainability data science experts ESource says <a href=\"https:\/\/esource.bizenergyadvisor.com\/article\/grocery-stores\" target=\"_blank\" rel=\"noopener nofollow\">energy costs make up around 15 percent of food retail overheads<\/a>.<\/p>\n<p>Feroz\u2019s company opted for smart tech to become more energy-efficient. \u201cWe\u2019ve sub-metered all our stores with smart meters. There are different meters for lighting, refrigeration and air conditioning for example, so we can see what\u2019s driving consumption.\u201d<\/p>\n<p>The tech isn\u2019t cheap but paid for itself fast. Feroz recounts a huge discovery: \u201cAfter metering one store in a new shopping center, we found we were being billed for other stores\u2019 electricity \u2013 the meters paid for themselves on the first day by proving it. We often use smart meter data to challenge incorrect billing \u2013 you\u2019d be surprised how common it is.\u201d<\/p>\n<p>Meanwhile, the meters helped identify small changes that could save a lot of power.<\/p>\n<div id=\"attachment_47747\" style=\"width: 253px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-47747\" class=\"size-medium wp-image-47747\" src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2023\/04\/05062739\/Bio-Feroz-Koor-2023-1-243x300.jpg\" alt=\"Feroz Koor\" width=\"243\" height=\"300\"><p id=\"caption-attachment-47747\" class=\"wp-caption-text\">Feroz Koor, Group Head of Sustainability, Woolworths Holdings<\/p><\/div>\n<blockquote><p>In traditional grocery stores, you buy milk and cheese from open fridges. We retrofitted lightweight doors on our fridges, saving 25 to 40 percent and reducing the need to heat stores<\/p>\n<cite><p>Feroz Koor, Group Head of Sustainability, Woolworths Holdings<\/p><\/cite><\/blockquote>\n<h2><span lang=\"EN\">From smarter stores to smarter buildings<\/span><\/h2>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe class=\"youtube-player\" type=\"text\/html\" width=\"640\" height=\"390\" src=\"https:\/\/www.youtube.com\/embed\/KJPi7hyy28w?version=3&amp;rel=1&amp;fs=1&amp;showsearch=0&amp;showinfo=1&amp;iv_load_policy=1&amp;wmode=transparent\" frameborder=\"0\" allowfullscreen=\"true\"><\/iframe><\/span><\/p>\n<p>Nilesh Jadhav, Founder of Qi Square who created BtrLyf, says, \u201cOur customers want to improve their energy efficiency and reduce reliance on imported energy. Our platform makes the data available. So far, we\u2019ve made digital models of 20,000 buildings in Singapore.\u201d<\/p>\n<p>Modeling their buildings gives businesses an approachable window on a daunting task. \u201cIf businesses can do an initial assessment of how they could save energy today, then how they could go to net zero [greenhouse gas emissions,] they can see the bigger picture.\u201d<\/p>\n<p>Woolworths is approaching a similarly daunting task \u2013 <a href=\"https:\/\/www.woolworthsgroup.com.au\/au\/en\/media\/latest-news\/2020\/woolworths-group-to-be-powered-by-100-green-energy-by-2025-in-move-set-to-help-grow-renewable-sector.html\" target=\"_blank\" rel=\"noopener nofollow\">to use 100 percent sustainable energy by 2030<\/a>.<\/p>\n<p>Feroz says, \u201cWe\u2019ve made the commitment because it\u2019s the right thing to do, but we\u2019ve got our work cut out for us. We have several options, like self-generation at shopping center level or sourcing from independent bulk producers. We\u2019re looking at <a href=\"https:\/\/en.wikipedia.org\/wiki\/Wheeling_(electric_power_transmission)\" target=\"_blank\" rel=\"noopener nofollow\">wheeling<\/a>, where you buy energy from a producer who then \u2018wheels\u2019 it through a distribution network. \u201d<\/p>\n<h2>From smarter buildings to smarter energy grids<\/h2>\n<p>Increasingly nations and energy companies are making <a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/smart-grid-electricity-business\/43774\/\" target=\"_blank\" rel=\"noopener nofollow\">electricity smarter at grid level<\/a>, aiming to reduce emissions and improve energy security. Smart grids can detect and react to customer use patterns, empower consumers to be more energy efficient and encourage renewable energy production by buying excess. All this can <a href=\"https:\/\/sympower.net\/smart-grid-explained\/\" target=\"_blank\" rel=\"noopener nofollow\">maximize renewable energy use and minimize the use of fossil fuel to generate electricity<\/a>.<\/p>\n<div id=\"attachment_47746\" style=\"width: 292px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-47746\" class=\"wp-image-47746 size-medium\" src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2023\/04\/05062636\/nilesh-jadhav-bw-282x300.jpg\" alt=\"Nilesh Jadhav\" width=\"282\" height=\"300\"><p id=\"caption-attachment-47746\" class=\"wp-caption-text\">Nilesh Jadhav, Founder and CEO of BtrLyf\u2019s makers, Qi Square<\/p><\/div>\n<blockquote><p>People are moving towards generating their own power. We say they\u2019re \u2018prosumers,\u2019 meaning producers and consumers. You could produce and use electricity if you have solar panels or a wind turbine at home.<\/p>\n<cite><p>Nilesh Jadhav, Founder and CEO of BtrLyf's makers, Qi Square<\/p><\/cite><\/blockquote>\n<p>Nilesh continues, \u201cMicrogrids take it to a system level using central energy management software and batteries to manage fluctuations.\u201d<\/p>\n<p>Smart grids also enable a market that incentivizes renewable energy production. Nilesh says, \u201cIf you can\u2019t put solar panels on your roof but your neighbor can, you could make a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Power_purchase_agreement\" target=\"_blank\" rel=\"noopener nofollow\">power purchase agreement (PPA)<\/a>. Singapore also has a market for <a href=\"https:\/\/www.spgroup.com.sg\/sustainable-energy-solutions\/our-low-carbon-solutions\/carbon-solutions\/Integrated-carbon-solutions\/renewable-energy-certificates\" target=\"_blank\" rel=\"noopener nofollow\">renewable energy credits<\/a>: You can buy these credits instead of buying electricity directly. If I want renewable energy but can\u2019t pay upfront for solar panels, buying renewable energy credits encourages third parties to invest, then sell the power.\u201d<\/p>\n<h2>Securing smarter energy solutions<\/h2>\n<p>Fabio Assolini, Head of Kaspersky Global Research and Analysis Team for Latin America, advises companies and nations to approach smart energy tech with due caution. \u201cWe\u2019ve seen destructive attacks on civilian energy infrastructure \u2013 not just power grids, but their systems too.\u201d<\/p>\n<p>Fabio says over the years, these kinds of attacks are increasing. <a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/smart-grid-electricity-business\/43774\/\" target=\"_blank\" rel=\"noopener nofollow\">In 2021, a ransomware attack shut down a major US fuel pipeline. The same year, IBM reported energy was the third most attacked sector<\/a>.<\/p>\n<p>Kaspersky threat <a href=\"https:\/\/securelist.com\/advanced-threat-predictions-for-2023\/107939\/\" target=\"_blank\" rel=\"noopener\">predictions for 2023 foresee hacker groups carrying out high-profile cyberattacks on civilian infrastructure<\/a> \u2013 such as energy grids and public broadcasting \u2013 using advanced persistent threats (APTs.) Critical infrastructure makes an attractive target for cybercriminals because of how much disruption successful attacks cause.<\/p>\n<p>Fabio suggests businesses pay attention to the security of their in-house energy infrastructure, as it may be particularly vulnerable. \u201cCorporate and personal power grids are not as well protected as national infrastructure. They\u2019re often connected to the internet using older, more vulnerable hardware, and software not readily updated. Do a full security audit before launching a microgrid or smart grid.\u201d<\/p>\n<h2>The future of smart energy for business<\/h2>\n<p>Nilesh sees smart energy tech evolving through user participation. \u201cOn the tech side, I hope it\u2019ll go the same way as the smartphone: More resources for companies and innovators to make applications that sit on a central platform. Users could then adopt energy management tech faster. Over time, you\u2019ll see more participation from consumers.\u201d<\/p>\n<p>On the energy side, he thinks peer-to-peer energy sales are the future. \u201cMore people will be \u2018prosumers:\u2019 Consuming and producing energy and being paid for excess. Everyone will have better energy-buying options.\u201d<\/p>\n<p>Feroz has simple advice for businesses wanting to reduce their energy footprint. \u201cStart now. The sooner you start doing something, whether it\u2019s just understanding your footprint or what your needs are, the better.\u201d<\/p>\n<p>Listen to the <a href=\"https:\/\/insight-story.podbean.com\/\" target=\"_blank\" rel=\"noopener nofollow\">full Insight Story audio series on Podbean or your usual podcast provider<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two business leaders explain how they\u2019re applying smart energy tech to save big on energy bills and reduce emissions.<\/p>\n","protected":false},"author":2521,"featured_media":47733,"template":"","coauthors":[3452],"class_list":{"0":"post-47732","1":"emagazine","2":"type-emagazine","3":"status-publish","4":"has-post-thumbnail","6":"emagazine-category-digital-transformation","7":"emagazine-category-emerging-tech","8":"emagazine-category-industrial-cybersecurity","9":"emagazine-tag-electricity","10":"emagazine-tag-insight-story","11":"emagazine-tag-retail"},"hreflang":[{"hreflang":"x-default","url":"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/insight-story-smart-energy\/47732\/"},{"hreflang":"en-us","url":"https:\/\/usa.kaspersky.com\/blog\/secure-futures-magazine\/insight-story-smart-energy\/28168\/"}],"acf":[],"_links":{"self":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/emagazine\/47732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/emagazine"}],"about":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/types\/emagazine"}],"author":[{"embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/users\/2521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/media\/47733"}],"wp:attachment":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/media?parent=47732"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/coauthors?post=47732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}