BOSTON, MA--(Marketwire - Apr 5, 2012) - Retroficiency, provider of the on-demand Building Efficiency Intelligence™ (BEI) platform, today announced it is a finalist in the prestigious Utility Technology Challenge for its Virtual Energy Assessment ™ (VEA) solution, which enables utilities to more effectively target and engage commercial customers with efficiency programs. With just a building address and 12 months of interval consumption data, VEA employs energy analytics and rapid building modeling to prioritize buildings in a portfolio by savings potential and identify no- and low-cost operational and retrofit opportunities -- in minutes, without ever visiting the building.
The Utility Technology Challenge -- sponsored by the Clean Technology and Sustainable Industries Organization (CTSI) and partners that include TechConnect, Fraunhofer TechBridge, Department of Energy, and Kauffman Foundation -- is designed to identify emerging technology providers that demonstrate 'exceptional promise' in key areas, such as building and energy efficiency. Retroficiency was selected by a panel of leading utilities and enterprises as one of fifteen finalists out of an initial 150 applicants.
"With U.S. utilities now spending approximately $3 billion on C&I efficiency programs and increasingly being rewarded for over performance or facing penalties for missed targets, they now need to proactively segment and meaningfully engage commercial customers in order to be successful," said Bennett Fisher, CEO, Retroficiency. "VEA's analytics-based approach delivers actionable insights that allow utilities to 'hyper-target' commercial customers with the right efficiency message at the right time."
Retroficiency will present at the TechConnect World conference in June for the opportunity to secure a pilot of VEA with a participating utility organization and a share of $100,000 in pilot-demonstration funds.
About Retroficiency, Inc.
Retroficiency enables energy service providers and utilities to cost-effectively prioritize high potential commercial buildings and evaluate thousands of energy efficiency measures in minutes. Our Building Efficiency Intelligence (BEI) platform delivers accurate, actionable insights and recommendations aligned with target goals. Retroficiency is trusted by some of the largest utilities and energy service providers in the world. For more information, please visit www.retroficiency.com.