High education costs? Smart asset and energy management can lower the energy bill
Educational administrators are all too familiar with the increasing expenses associated with keeping schools open and running smoothly. From challenges with enrollment to sharing in the burden of an economy in turmoil, watching the bottom line can leave many worried about the future — and rising energy costs aren’t helping the equation.
As schools examine where to find opportunities to conserve funds, the magic denominator might lie in maintenance or facilities.
Since the cost of living will only continue to rise — especially regarding the energy bill — now is the perfect time for educational institutions to modernize operations and centralize their asset management.
Energy: an expense that keeps growing
Increasing energy prices are just one of the many factors putting pressure on schools to find ways to decrease consumption and manage budgets. White House data has revealed that energy is the second biggest expense for public K–12 schools at $8 billion per year after salaries.
$8 billion per year!
How is that calculated? Well, RMI, a research firm, noted that when it comes to energy costs, an average K–12 school spends around $300 per student (with about 33% of that expenditure wasted).
So, where can schools begin to cut energy costs? The answer starts with data and continues with operations.
Thinking beyond tuition
As costs to keep facilities running increase, it’s critical for departments across educational institutions to work together to find ways to save money — a challenge if they lack a common language. But, if schools can capture and centralize asset data, it can be easier to find common ground to make smarter investments that will benefit everyone, from the students to the maintenance professionals.
Smart asset management: the math adds up
Smart asset management is the key to helping educational administrators and facilities managers use data to better monitor energy, workflows and operations. The right solutions can make a big difference in realizing cost savings — and energy savings — over time.
Brightly is uniquely positioned to help educational institutions get the most from the data their assets are already producing. From where opportunities exist for energy conservation to getting ahead of major problems through proactive maintenance, we help administrators and operations professionals work smarter, together.
With Brightly’s suite of solutions, you can better:
- Control energy use. With Energy Manager, schools can benchmark energy consumption trends, spot waste and use insights to get smarter with their energy.
- Manage facilities. Use Asset Essentials to boost efficiency, get more out of your assets and plan for preventative and predictive maintenance.
- Schedule events. Leverage the Event Manager to promote school events or support the community while recovering costs and generating revenue.
- Optimize expenditures. Predictor can help educational institutions compare different funding scenarios and anticipate major expenses or surprises.
Whether you’re watching the budget or trying to request more funding, having (and understanding) the data behind your operations can help fuel your decision-making process to keep your schools open and running smoothly. Want to dive deeper into market trends affecting the education industry? Check out our Guide: 5 asset management and operation trends for education.