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
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
SYS-CON Events announced today that MangoApps 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. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, 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. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...