EcoFactor, a startup that uses big data tools to act as a new brain for connected thermostats, has some stellar results from ten different trials where it automated the process of turning up and down consumer’s thermostats. The company, which launched at the end of 2009, says that on average its services can reduce a person’s home energy use by 17 percent compared to a programmable but non-optimized thermostat.
That’s a 17 percent reduction in a consumer’s energy bill, too, and EcoFactor found it could reduce consumer’s bills by up to $56 per month when its service was used. EcoFactor did many of its trials during demand response events for utilities, which are times (like a really hot day) when a utility wants to turn down the energy consumption of some users to better manage the grid. EcoFactor also found that it delivered better demand response events for utilities, providing a 36 percent increase in yield for utilities during the event.