Welcome!

News Feed Item

EcoFactor Delivers Verified Energy and Demand Results that Surpass the Competition

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., Aug. 26, 2014 /PRNewswire/ -- 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 4kW per connected home and more than 2.7kW 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:

  • Demand Response: EcoFactor reduced summer peak load requirements by more than 4kW per home and 2.7kW per thermostat, which consisted of event-based reductions of 3.5kW per home and 2.37kW per thermostat, plus ongoing efficiency-based reductions of 0.6kW per home and 0.4kW per thermostat. EcoFactor delivered more than twice the load shed claimed by Nest (1.18kW of load shed per device according to Greentech Media) and 90 times the load shed estimated by Opower to be achievable through its behavioral approach (0.044kW).
  • Energy savings: EcoFactor's 11 percent reduction in AC usage contributed to a combined 1,162.4 kWh in electricity and equivalent gas heating savings per home, which translated to roughly $100 per home in annual savings. In its marketing materials, Nest has claimed a 4.7 percent reduction in AC in 2013. Opower estimates potential savings in Nevada of 259 kWh or $33.78 per home from its behavioral approach.

"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

  • Annual savings from DR and EE (electric and gas) averaged 635 kWh and 18 therms (equivalent to 527 kWh) per home which amounted to an average yearly savings of about $100 for mPowered customers.
  • EcoFactor reduced summer peak load requirements by more than 4kW per home and 2.7kW per thermostat, which consisted of event-based reductions of 3.5kW per home and 2.37kW per thermostat, plus ongoing efficiency-based reductions of at least 0.6kW per home and 0.4kW per thermostat.
  • During summer 2013, EcoFactor saved mPowered customers 94.7 kWh per month and achieved AC energy savings of 11 percent, compared to a control group that included homes with programmable thermostats.

EcoFactor DR + EE Approach Drove Sustained Participation and High Customer Satisfaction

  • NV Energy dispatched, and the mPowered program successfully delivered, 28 DR events in 2013 including a stretch of eight consecutive days with DR events.
  • EcoFactor customers initiated 12 percent fewer manual overrides as compared to the customers of the most comparable program in the study.
  • NV Energy's customer survey showed that the program has an 86 percent overall customer satisfaction rating.

EcoFactor is a Cost-Effective Solution

  • The report includes the results of using the Total Resource Cost (TRC) method to analyze the costs and benefits of the program. In 2013, the mPowered program had a TRC benefits-to-costs ratio of 1.33, indicating that the program, which provides communicating thermostats, professional installation and EcoFactor's remote optimization service all at no cost to consumers, was cost-effective for NV Energy. The TRC ratio for the 2014 implementation of the program is expected to be above 1.8.

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.

About EcoFactor
EcoFactor's cloud-based analytics platform unlocks the value of residential data to intelligently predict and automate energy savings for consumers. Patented software analyzes data from various sources such as network connected thermostats, weather data, and consumer interactions, and applies optimization algorithms tailored to the unique characteristics of individual homes and of homeowners.  Our residential energy services achieve maximum demand response load shed, delivers superior energy efficiency savings, and detects and prevents HVAC failures. Our services are purchased by consumers through channel partners including Comcast, Reliant Energy, NV Energy, and Sacramento Municipal Utility District.  Based in Redwood City, California, EcoFactor is privately held and funded by Claremont Creek Ventures, RockPort Capital Partners, Aster Capital and NRG Energy, Inc. For more information: www.ecofactor.com.

SOURCE EcoFactor

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...