Insite Platform Partners is pleased to announce the launch of the new One-Tank Skytracker surveillance system. The Skytracker is a remote propane tank monitoring system that can be used by propane dealers worldwide.
The Skytracker is able to check the temperature inside ASME propane tanks and also track customers’ actual propane usage each month. This allows dealers to buy in bulk and optimize operations, while customers are billed for the propane they actually use.
According to The Business Research Company, the global Tank Level Monitoring System market size is expected to reach $1.25 billion by 2025. This will be an increase of 6.9% from 2020.
Propane dealers are able to refuel their customers’ tanks before winter sets in and avoid peak season prices, while protecting their drivers from dangerous road conditions by avoiding service calls customer emergency.
“One-Tank accumulates important data from your propane storage tanks so distributors can determine how much storage and inventory they have in existing tanks,” said One-Tank CEO Brian Humprey. . “The last 10 years have seen great improvements in satellite technology that have transformed our remote monitoring software and provide cost-effective benefits to propane distributors.”
This is all the more crucial as the demand for propane continues to increase. According to a Brookings Institute report in late 2021, competition from Europe and Asia for liquefied natural gas has driven up the price. According to a March article from Fisk Tank Carrier, the price of propane could reach $2.57 per gallon in 2022.
Since the start of 2022, the cost of propane has already increased by 10%. According to current forecasts, this price could increase by another 11% over the next 12 months. Marketing of remote tanks allows propane suppliers to lock in a lower price before any further price increases.
The average cost of traditional propane storage in a bulk tank is $4.17 per gallon. When using One-Tank, that cost drops to an average of $1.60 per gallon. This first-of-its-kind monitoring system also allows the propane supplier to own the propane in the tanks being serviced, until that propane is consumed.
Customers also have access to an app where they can track their propane usage and see how much fuel is in their tank. Installation takes less than two minutes and the monitoring system can be used immediately after installation.
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