Banyan Water, a smart water organization based in the United States, has created a water management tool hat sheds financial light on all the waste that happens on a daily basis. Dubbed SmartRate, it essentially translates water consumption into dollars spent to allow "full visibility into the financial impact of water use," writes Environmental Leader.
Taking information from both local water and wastewater utilities, the water management tool "combines water use projections based on historical use with newly increased rates to determine how rate increases will affect the overall water costs for a specific user." Although SmartRate focuses more on money than environmental impact, the two are closely related. By taking this particular stance, Banyan Water recognizes the importance of speaking directly to consumer concerns.
Water Management Tools
SmartRate by Banyan Water Translates Water Consumption into Dollars Spent
Trend Themes
1. Smart Water Management - Using technology to monitor and manage water consumption for financial and environmental gains.
2. Data-driven Water Insights - Leveraging data to gain actionable insights into water usage and its financial implications.
3. Consumer-focused Water Conservation - Addressing consumer concerns by providing tools that translate water consumption into financial impact.
Industry Implications
1. Water Technology - Developing innovative solutions and software platforms for smart water management.
2. Environmental Services - Providing water management tools and services that help organizations reduce costs and environmental impact.
3. Sustainability Consulting - Assisting businesses in implementing strategies to conserve water and achieve sustainable practices.