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August 27, 2014

Embedded M2M Solutions - NV Energy Report Details the Benefits of IoT

EcoFactor recently introduced a cloud-based HVAC Performance Monitoring service that does thermal modeling of a home – taking into consideration such factors as the outside weather, the inside temperature, and how the two are impacting one another, and then assesses how the home’s climate control systems are responding to both. This can help users realize improved HVAC performance and understand when maintenance is required, so they can take care of it before a whole system change out is required.

Today, the company revealed some of the results Nevada’s NV Energy and its customers are enjoying as a result of the service. These results, detailed in a report the power company filed with Nevada’s PUC, indicate that EcoFactor technology last year reduced AC usage by 11 percent and reduced peak loads by more than 4 kW per connected home and more than 2.7 kW per connected thermostat. That equated to about $100 per home in annual savings.

Meanwhile, according to EcoFactor, the popular premises-based home thermostat solution called Nest claimed a 4.7 percent reduction in AC last year, while Opower estimated potential savings in Nevada of 259 kWh, or $33.78 per home from what EcoFactor calls a behavioral approach.

“The NVE M&V report is significant because it compares the impact of different approaches to peak load shedding,” said Tom Kerber, director of research, home controls and energy at Parks Associates (News - Alert). “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.”

In an interview yesterday with TMCnet, EcoFactor’s Rodrigo Sanchez said these results emphasize that IoT is more than just a buzzword – the Internet of Things deliver real benefits.

EcoFactor was established in 2006 and started operations in 2009. NV Energy is the company’s largest deployment and first scaled commercial user to date, although it’s in pilots with many other organizations, according to Sanchez.

Edited by Alisen Downey

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