Axis Bank's Energy Efficiency Transformation with Energos
Discover how Axis Bank reduced energy bills by 20% across 750 branches with Energos' AI-powered IoT energy management system. By automating HVAC operations, optimizing energy usage, and detecting fuel pilferage, the bank achieved significant cost savings and strengthened ESG compliance. The reduction in Scope 2 carbon emissions was highlighted in its annual sustainability report, reinforcing its commitment to a greener future.
Client: Axis Bank
Industry: Banking & Financial Services
Locations Covered: 750 large branches across India
Axis Bank is one of India's leading private sector banks, operating thousands of branches nationwide. With extensive facilities that include HVAC systems, server rooms, ATMs, and backup generators, the bank faced a significant challenge in managing energy costs, optimizing power consumption, and enhancing sustainability efforts.
The Challenge
Axis Bank was experiencing rising energy costs, with a 10-15% year-over-year (YoY) increase in electricity bills across its branches. Key issues identified included:
- High HVAC Energy Consumption: Over 50% of power usage was attributed to air conditioning systems.
- Inefficient Manual Operations: HVAC systems were manually operated without optimization, leading to excess energy usage.
- Lack of Centralized Energy Monitoring: No unified system to track and analyze energy consumption trends.
- Diesel Pilferage & Incorrect Expensing: Backup generator fuel usage was inconsistent, indicating possible pilferage at some branches.
- Carbon Footprint & Sustainability Challenges: Rising power consumption was increasing the bank’s Scope 2 carbon emissions, impacting ESG compliance.
The Solution
Energos proposed and implemented a comprehensive AI-powered IoT energy management system, integrating automation, analytics, and real-time monitoring. The solution included:
1. Smart HVAC Automation
- AI-Based Scheduling: Implemented AI-driven time and temperature controls to optimize HVAC operations based on occupancy, ambient temperature, and branch working hours.
- Automated Control Systems: IoT-enabled controllers were deployed to adjust cooling levels dynamically, reducing unnecessary energy consumption.
2. IoT-Based Energy Monitoring
- Real-Time Data Collection: Deployed smart meters and sensors to monitor energy usage, power quality, and demand patterns.
- Centralized Dashboard: Enabled Axis Bank to access a unified view of energy consumption across 750 branches, allowing for data-driven decision-making.
3. Diesel Usage & Expense Validation
- Fuel Consumption Analytics: Tracked diesel generator usage patterns to detect anomalies and potential fuel theft.
- Expense Verification System: Identified branches with irregular fuel expenses, leading to corrective actions and cost savings.
4. Utility Bill Analytics & Reporting
- Automated Utility Data Collection: Centralized monthly electricity bill data for all branches.
- AI-Driven Insights: Developed trend analysis tools to correlate energy consumption with business parameters, optimizing future energy strategies.
The Impact
The implementation of Energos’ AI-powered IoT-based energy management system delivered substantial cost savings and operational efficiencies:
- 20% Reduction in Energy Bills: Automated HVAC optimization led to immediate and sustained savings.
- 5-Year Contract Signed: Impressed by the results, Axis Bank entered into a long-term agreement with Energos to continue scaling the solution.
- Eliminated Diesel Pilferage: Identified and addressed fraudulent fuel expense claims, reducing unnecessary costs.
- Centralized Energy Data & Reporting: Axis Bank gained complete visibility into its energy consumption, allowing for proactive efficiency measures.
- Reduced Scope 2 Carbon Emissions: The savings in energy consumption were converted into reduction in Scope 2 carbon emissions and presented in the bank’s annual sustainability report each year, strengthening its ESG commitments.
- Improved ESG Compliance & Sustainability Reporting: The bank successfully enhanced its corporate sustainability strategy through real-time tracking of carbon reductions.
Energos successfully transformed Axis Bank’s energy management strategy through AI, IoT automation, and real-time analytics. The project not only reduced energy costs but also enhanced operational transparency, paving the way for a sustainable and data-driven approach to facility management.
By leveraging Energos' expertise, Axis Bank has set a benchmark for energy efficiency, IoT-enabled smart automation, and sustainability in the banking sector.
