Texas water management software provider Banyan Water reports combined water savings of more than 18 billion litres over the past decade.
With water losses due to leaks commonly running into double digit percentages, savings, especially in water poor or drought stricken areas, can have significant value for both utilities and users.
For example, the 2.4 billion l of water Banyan Water reports saved for enterprises in the last year alone – over 13% of the total since the company’s founding in 2011 – had an asset value of $36 million.
“We’ve reached a critical tipping point for water conservation as worsening droughts grip the nation and cities confront strained resources, aging water infrastructures, rising water rates and population growth,” said Gillan Taddune, CEO of Banyan.
“Water is a finite resource. We can’t wait until we run out to create meaningful change in water management. If enterprise leaders don’t take responsible action now, they risk dangerous consequences that could last for generations.”
The southwestern US is currently facing a historic drought, with more states today experiencing exceptional drought conditions than in the past two decades, according to the US Drought Monitor.
Banyan Water’s IoT-enabled, SaaS-based water technologies analyse real-time data to monitor water usage and pinpoint hidden water risks, leaks and costly water anomalies across its customers’ properties.
For example during 2020, 505 irrigation leaks were detected saving $1.75 million.
The UN’s latest World Water Development Report states that the current status of water resources highlights the need for improved water resources management. Recognising, measuring and expressing water’s worth, and incorporating it into decision-making, are fundamental to achieving sustainable and equitable water resources management as well as the sustainable development goals.
According to the report globally freshwater use is growing at a rate of about 1% per year, with agriculture accounting for over two-thirds of withdrawals, mainly for irrigation. Leaks detected in this sector can thus be particularly significant in reducing losses.