EcoFactor, an energy-conscious Silicon Valley-based company, talked about their energy saving services and cloud-based energy analytics platform, powered by artificial intelligence, to automate energy savings for their customers without compromising their sense of comfort and convenience. It combines sophisticated algorithms and real-time data analytics from programmable thermostats, weather conditions and consumer preferences to deliver automatic microtemperature adjustment and offer IoT benefits to customers.
Home cooling or heating is often the greatest contributor to home energy bills, especially during times of scorching heat or freezing cold. While there are many niche areas revolving energy savings around home, EcoFactor decided to enter the space by offering smart thermostats as its first line of product. “We turn simple thermostats into smart thermostats. It’s what we started because they represent 50 to 60 percent of your typical energy bill. We are trying to find every opportunity to save energy,” said Rodrigo Sanchez, VP of Marketing and Product Management. “The opportunities are just so large in thermostats that it’s what we’re focusing on right now.” The company claims its proactive energy efficiency service helps users to save 10 to 15 percent of energy over programmable thermostats.