Normally we wouldn’t get too concerned with a thermostat , even a so-called smart one. But, unlike what normally passes for a “smart” home heating solution, Honeywell’s upcoming touchscreen devices are going to be paired with some real brains courtesy of Opower. Details of the partnership are still a bit thin, but we do know that consumers would be ready to program and monitor energy usage, not only from the thermostat itself but, via internet connected devices like smartphones. Opower may also provide suggestions for trimming energy bills. The 1st trials are expected to start within the following few months through utility companies, but Honeywell eventually expects to provide the devices through broader retail channels. Inspect the complete PR after the break.
Companies Combine Analytics and Automation to Make It Easy for Consumers to Implement Cost- and effort-Saving Changes
WASHINGTON, D.C., Sept. 13, 2011 – Honeywell (NYSE: HON) and Opower today announced plans to jointly develop energy management tools to assist consumers cut their energy use and expenses. The corporations will combine Honeywell’s expertise in residential automation and control systems with Opower’s industry-leading energy data analytics and customer engagement techniques to create intuitive, reliable and price-effective technology on the way to provide energy savings in the house and around the entire electrical grid.
Honeywell and Opower will initially launch a platform that features a Web-connected programmable thermostat to aid utilities boost energy efficiency programs, driving deeper savings in the house and maximizing return on investment. The technology will measure, analyze and report homeowners’ electricity use, including detailed information from the thermostat, which controls heating and cooling systems – equipment that accounts for nearly 50 percent of all residential energy consumption.
Utility customers can be capable of access the information from an internet portal or mobile application to get a transparent and comprehensive snapshot in their energy use and spending. The technology also will suggest and automatically implement cost-saving changes, and could present equivalent data from similar families within the same geography to supply a benchmark and extra context.
“Empowering consumers to regulate how they use electricity starts with awareness,” said Jeremy Eaton, vice chairman of energy solutions for Honeywell. “Nevertheless it doesn’t end there – in addition they need easy-to-use controls to implement changes and lead them to stick. We believe Honeywell and Opower will successfully combine information, motivation and control to aid homeowners reduce energy consumption and charges.”
The corporations plan to pilot the hot product with select utility partners over the following couple of months. The platform may eventually support utilities’ efficiency programs for light commercial customers, in addition to demand response programs, which help temporarily reduce electricity consumption when energy use spikes and strains the grid. Honeywell also plans to sell similar products through residential contractors and retailers.
“Honeywell is the clear leader in manufacturing reliable control technology and it is a brand trusted by millions all the world over” said Daniel Yates, CEO and co-founding father of Opower. “We’re very excited to work with Honeywell to assist us extend our platform into the house, and deliver much more value to our utility partners and their customers.”
Opower is the nation’s leading energy information platform, currently delivering data to almost 10 million residential consumers. The platform combines cutting-edge behavioral science with patent-pending data analytics to price-effectively deliver actionable energy insights to millions of houses. Opower’s products have helped consumers save over $50 million dollars on their energy bills to this point, and the corporate projects that number to be more over $100 million because it progresses towards its goal of 1 terawatt hour of savings by the top of 2012.
Honeywell is an international leader in energy efficiency, with control technology in additional than 150 million homes, 10 million buildings and thousands of commercial plants world wide. Along with a whole-line of home comfort products available through heating and air-conditioning professionals and stores, the corporate has helped greater than 5 million homeowners decrease their energy use through its work with utilities, including designing, marketing and implementing energy efficiency and insist response programs.
About Opower
Opower is a frontrunner in energy information software, providing the utility industry’s only cross-channel platform proven to drive energy efficiency gains on a big scale. Using cutting-edge behavioral science and patent-pending analytics, the Opower platform enables utilities to present targeted energy data and advice to every customer. Greater than 50 utilities – including 8 of the ten largest inside the U.S. – partner with Opower to noticeably improve the effectiveness in their energy-efficiency portfolios and motivate their customers to become more energy efficient, while dramatically increasing the extent of purchaser engagement and overall customer satisfaction. For utilities with Advanced Metering Infrastructure (AMI), the Opower platform represents a price-effective approach to convert hourly data into measurable energy savings, delivering a transparent return on investment on to the purchasers. Founded in 2007 and privately held, Opower is headquartered in Arlington, Virginia, in addition to a second office in San Francisco, California. For more info, please visit www.opower.com.
About Honeywell
Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace services and products; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded at the Big apple, London, and Chicago Stock Exchanges. For more news and knowledge on Honeywell, please visit www.honeywellnow.com.
This release contains “forward-looking statements” in the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, apart from statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur someday are forward-looking statements. Forward-looking statements are according to management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They aren’t guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements also are subject to risks and uncertainties, that may affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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