home energy deal signed
E3 Greentech is a smart grid technology company that has developed a cloud-based services platform called Integrated Rules Object Model (IROM), which can help reduce energy consumption for electric utilities, property managers, and residential property owners.
Sustainable Business reports that Greentech CTO Greg Chambers says the first business application of Greentech's IROM is the company's home energy management system service, called Intelligent Bridge.
The software-as-a-service is bundled with a network of microprocessors, sensors and controls installed at the premise to dynamically optimise energy use.
Greentech says it has linked with AT&T to use the telco's 3G wireless network for its home energy management product that can shave off up to 15% of the energy consumption of consumers and more than 25% of peak energy demand.
According to Reuters, shaving off that type of energy consumption is a good value for utilities, and is far less expensive than building a new coal plant, said Chambers. A start-up called EcoFactor has a similar idea, as does Consert, a start-up backed by Qualcomm, GE and Verizon.
Previously E3 Greentech had been relying on the consumer's home Internet connection for the network.
Greentech's customer is mainly the utility, and CTO Greg Chambers said in an interview that the company has pilots in five states in the mid-west with undisclosed utilities.
The product works by installing devices in utility customers' homes - which could include connected thermostats, smart outlets, gateways and more. Greentech's cloud-based algorithms collect and crunch data in real time from devices on an individual home to the block to the neighbourhood.
AT&T has been slowly moving into the smart grid and home energy management space. AT&T has also worked with smart grid companies, selling space on its network to connect grid devices.
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