Software-based grid management is gaining significant popularity in many countries, and is one of the top sectors that is attracting investments in the clean energy domain.
The cleantech software company – EnergySavvy – recently received $14 million from investors as it launched new version of its energy management products that help utilities to manage energy usage.
The Seattle company develops cloud-based software that lets utility companies see a breakdown of what energy is being used, and where. Utilities can then find ways that energy could be used more efficiently.
Aaron Goldfeder – the Co-Founder and CEO of EnergySavvy was working at Microsoft in 2008 when his motivation to start a business kicked in. He wanted to build a company that had social impact as a byproduct of its economic success and hence chose clean energy, an increasing topic of conversation as climate-change concerns grow. Now the company has grown to more than 70 employees and works with about 40 utility companies across the U.S., including Puget Sound Energy and East Coast provider National Grid.
This is what EnergySavvy does:
- EnergySavvy collects energy-use data from millions of buildings and homes to see patterns on efficiency and technologies, such as solar- powered energy.
- This huge sum of data will be assimilated, analysed and brought to actionable insights for the utilities to take meaningful measures.
- Usually, utilities use those insights to educate customers about energy efficiency, upgrading homes and making changes to their own services.
- Utilities may use the software to recommend to a restaurant customer, for example, that it can upgrade its cooking equipment to conserve energy. The restaurant could then receive a discounted utility bill after upgrading.
- The technology also assists utilities to connect with customers online or via phone to speed upgrades and take service action.
Founded in 2008 with simple idea of transforming the way utilities interact with their customers, Energy Savvy has evolved over time, from focusing solely on energy efficiency to offering broader data on utility’s customers and what services they might want. Utilities can contact their customers directly through the EnergySavvy platform.