We are at a pivotal point of transformation in the manufacturing industry. Over the last decade, many companies have been focusing on Industry 4.0 technologies to digitalize their manufacturing processes and make business operations more efficient and agile.
However, there is a new revolution on the horizon that business leaders will need to embrace: manufacturing energy transformation. Manufacturing energy transformation is the practice of tracking energy consumption, carbon emissions and waste throughout the value chain to identify areas of improvement for sustainability compliance.
This is in direct response to the U.S. Department of Energy’s Industrial Decarbonization Roadmap, which outlines the pathway for the government, businesses and other stakeholders to achieve a net-zero economy by 2050. According to the International Energy Agency’s tracking report, to achieve these ambitious goals, industrial emissions must decline about 3% per year on average, requiring accelerated policy action. Given this tight time frame, business leaders must assess opportunities to improve their current sustainability practices.
