In the News

EcoFactor bets the house on residential energy management

Date: 03/27/2014

Company: EcoFactor

Source: Utility Dive

By Davide Savenije

“People want to save energy,” CEO Roy Johnson said. “What they don’t want to do is spend any time doing it.”

For the last century, electric utilities made their livelihoods by quietly building out the U.S. grid and reliably delivering power to their service territories. Today, that may no longer be enough.

As consumers have more choice than ever, it’s becoming incumbent on utilities to emerge from behind the meter. The key to utilities making transition, some argue, is finding value in customer data. There are loads of companies trying to get into this space — just look at Google’s acquisition of smart home darling Nest Labs.

EcoFactor is one of those companies. Backed by NRG Energy, the company was started in 2006-07 by people coming out of the software-as-a-service space who knew little-to-nothing about the energy business. But they wanted to answer one simple question: Can you help people become more energy efficient?

EcoFactor is betting its business on it.

“We believe people want to manage their energy use better than they are today,” EcoFactor CEO Roy Johnson told Utility Dive. “Maybe the motivation is climate change, maybe it’s saving money – but people want to save energy. What they don’t want to do is spend any time doing it.”.

“The industry has done a good job of providing more efficient hardware,” Johnson said. “But the next big thing is really getting after the lifestyle things that you can change.”.

Read full story at Utility Dive

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