Energy service companies (ESCOs) are some of the leading organizations when it comes to renewable energy solutions. Whether they offer solutions to residential or commercial clients, ESCOs can help with a wide array of projects such as energy conservation and supply, retrofitting buildings and generating and delivering power.
One of the most significant benefits of ESCOs is their ability to improve energy efficiency and find savings for their clients. Companies that want to reduce costs and minimize their footprint often find that ESCOs can help them do so.
But ESCOs experience unique challenges, many of which can be solved with fast and easy access to accurate utility rate data for energy providers.
Why ESCOs Need Utility Rate Data
ESCOs find themselves in a market fueled by advances in digital technology. If they want to stay competitive, they must leverage the benefits of technology, including things like artificial intelligence and information processing. As you can imagine, data is a big part of making those technologies work.
With these kinds of tools, ESCOs find that data-driven resources can help them:
- Boost sales. When trying to appeal to a client, personalized offerings can go a long way. With access to a prospective customer’s utility usage and rate data, ESCOs can more effectively tailor their offerings to them. For example, they could provide the client with a detailed breakdown of how much the ESCO could save them over time, offering a more convincing sales pitch with accurate forecasting.
- Improve productivity. With a database full of utility rate data for energy providers, ESCOs can reduce the amount of time spent manually collecting information. Access to new technologies that utilize data can also help ESCOs boost productivity. For instance, rate data integration might allow an ESCO to communicate findings quickly with other companies.
- Find more opportunities for energy efficiency. Energy-efficient initiatives can’t happen without clear, evidence-driven plans and insights. Rate data for energy providers makes it easy to find and develop this evidence and generate reports.
- Analyze historic success and create accurate predictions. Every company needs to evaluate its performance, and with historic rate data, companies can conduct audits and analyses as needed. They can also make more accurate predictions about energy usage for the future.
- Personalize service. Much like creating personalized sales pitches, ESCOs can also use the information gathered from their clients’ usage to inform promotions and money-saving initiatives, such as discounts for energy used during non-peak hours. These can help save money for the provider and for the customers while providing a useful sales tactic.
The Benefits of RateAcuity for ESCOs
Electric rate data for energy providers allows ESCOs to eliminate many of the difficulties of everyday operations and develop their sales and marketing tactics. With fast, readily available data on energy rates and usage, ESCOs often find that they can increase performance visibility and accuracy, improve data-supported decision-making and reduce the time spent on data collection.
Data Solutions for ESCOs
RateAcuity offers all of this with highly accurate, fast rate data reporting for energy providers. It is consistently monitored and can be integrated into existing programs through a custom application programming interface (API). Other features include report generation and historical data tracking.
If you want to get a high return on investment, better visibility, improvements to processes and many other benefits that come with working with RateAcuity, try us free for 14 days or contact us for more information.