REDWOOD CITY, CA--(Marketwire - Nov 13, 2012) - EcoFactor® (http://www.ecofactor.com/), the leader in cloud-based software services for home energy management, today announced that NV Energy, Inc. has begun mass deployment of the EcoFactor service under the NV Energy mPowered brand.
The integrated demand side management partnership calls for EcoFactor to deliver both double-digit energy savings to consumers, and a minimum of 20 megawatts of load reduction in the Las Vegas market during the first phase of deployment. Additional phases are also planned.
The launch of the NV Energy mPowered solution with EcoFactor stems from the success of a pilot program in the Las Vegas metropolitan areas. Results of measurement and verification studies conducted by NV Energy during this pilot showed that the EcoFactor service simultaneously:
- Saved an average of 13 percent of customer cooling costs during a scorching Las Vegas summer.
- Delivered an average demand response load reduction of more than 3 kilowatts per home on NV Energy's benchmark measurement & verification days, which is significantly higher than NV Energy has achieved using other approaches.
EcoFactor's patented, cloud-based energy service analyzes a home's specific heating and cooling system information, thermostat settings, personal preferences, indoor temperatures, local weather conditions and several other behavioral factors. Using an Internet-enabled thermostat, the EcoFactor service continually learns and adapts to these factors, automatically making small adjustments to thermostat settings throughout the day to reduce energy consumption and shift energy use without compromising comfort. EcoFactor helps residents heat and cool their homes more efficiently, saving money on their utility bills. The service helps leading-edge utilities like NV Energy maintain customer comfort while effectively managing demand-side impact on the grid.
"The broad availability of our service with NV Energy is further validation that EcoFactor delivers value for large utilities," said Roy Johnson, CEO, EcoFactor. "With EcoFactor, homeowners stay comfortable during demand response events without giving up control of the temperatures in their homes. We are helping utilities move into a new era where they achieve their business goals while delivering tangible benefits to customers."
NV Energy, which provides electricity to 2.4 million Nevadans, began rolling out its mPowered solution with EcoFactor to Las Vegas residents in October. To sign up for the service, customers can visit www.nvenergy.com/mpowered.
EcoFactor is the leader in cloud-based services for residential energy management. EcoFactor's award-winning service combines proven capabilities for energy efficiency and demand response into a unique, customer-centric approach to residential energy management. The company enables home service providers to offer an intelligent energy management service to their customers. Homeowners get an automated way to reduce energy consumption, save money and stay comfortable, and partners have the opportunity to take advantage of broader initiatives for energy efficiency, demand response and load shaping. Customers include Reliant Electric and Comcast. Based in Redwood City, Calif., EcoFactor holds nine patents to date for its residential energy management technology. The company won the 2011 CTSI Top 15 Utility Solutions Award, and the Cleantech Open National Business Award in 2009. EcoFactor is privately held and funded by Aster Capital, Claremont Creek Ventures and RockPort Capital Partners.