EcoFactor Delivers Verified Energy and Demand Results that Surpass the CompetitionTuesday, August 26, 2014 Third Party report shows EcoFactor outperforms all other Home Energy Management solutions including Nest and Opower by achieving 4kW per home demand savings and 11 percent AC energy savings Redwood City, Calif. — August 26, 2014 — EcoFactor®, the leader in cloud-based home energy management services, today announced third-party measurement and verification results from its deployment as the heart of NV Energy’s mPowered program, one of the country’s largest and most successful residential integrated demand side management (IDSM) programs, with more than 22,000 customers so far. The report, filed with the PUC of Nevada by NV Energy, confirms that in 2013 EcoFactor reduced AC usage by 11 percent and reduced peak loads by more than 4 kW per connected home and more than 2.7 kW per connected thermostat. The EcoFactor solution accomplished all this while maintaining consumer comfort and saving them an average of $100 per year. As a result, the program has now proven both that it is cost-effective and that it delivers an 86 percent customer satisfaction rating, as measured by NV Energy. EcoFactor’s verified demand and energy efficiency savings surpass results claimed and/or estimated by other home energy management players:
“We’ve been talking up the advantages of our data-rich approach to intelligent optimization for some time now, but it is great to have independent verification that our solution does what we said it would do,” said John Steinberg, EVP Business Development and co-founder of EcoFactor. “EcoFactor’s service leads the industry in providing load shed and energy efficiency in one integrated package that also delivers high customer satisfaction. We are the only vendor able to do all of this in one cost-effective platform, and we’ll be delivering similar results for other utilities in the near future.” 2013 M&V Report Highlights EcoFactor DR and EE Achieved High Demand (kW) and Energy (kWh) Savings
EcoFactor DR + EE Approach Drove Sustained Participation and High Customer Satisfaction
EcoFactor is a Cost-Effective Solution
The NV Energy Demand Response Program Year 2013 Final Evaluation Results report (Docket no. 14-07007 as filed with the Nevada PUC) submitted by ADM Associates Inc. assessed both demand and energy savings achieved by NV Energy’s active commercial and residential DR programs in its Southern Nevada service territory in 2013. The mPowered program, which provides communicating thermostats and EcoFactor’s optimization service and remote management tools to NV Energy’s residential customers, launched in October 2012 and had 14,500 customers participating and 21,000 thermostats installed by the end of 2013. NV Energy continues to expand the program, with more than 22,000 customers and more than 34,000 thermostats now deployed. “The NVE M&V report is significant because it compares the impact of different approaches to peak load shedding,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. “EcoFactor’s energy modeling solution not only delivered more peak load per household than other solutions during DR events, but through an integrated approach with EE, EcoFactor also provided homeowners with huge energy efficiency and money savings.” How EcoFactor Achieves Significant DR and EE Results EcoFactor offers the only proven data-based integrated energy efficiency and demand response service with superior and quantified energy efficiency savings and superior demand response yield. EcoFactor is a real-world example of the potential of the Internet of Things – a device connected with big data cloud architecture, machine learning algorithms and predictive analytics – to provide an intelligent automation service that makes homes smarter. Patented algorithms adapt to customer preferences and habits, and the unique thermal characteristics of each home, to reduce daily energy consumption without sacrificing comfort. The same expertise is leveraged to optimize pre-cooling to simultaneously increase both comfort and load shed during demand response events. This has resulted in significant energy and money savings, enhanced comfort and greater convenience for NV Energy customers and consistent load shed for the utility. EcoFactor’s SaaS-based residential energy services are built to easily integrate into current business infrastructures to quickly launch and scale energy programs across millions of homes cost-effectively. |