May 13, 2013
In the United States, energy consumption is taken for granted by most. The statement comes at the end of the billing cycle and we pay it, even if it means searching for quarters in the couch. Electricity is a necessity for us. But the energy industry in most emerging energy markets like South Asia, the sub-Sahara region in Africa, and Eastern European countries, is afflicted by non-payment and theft.
In these areas, the non-payment losses in the energy industry total over 50 percent. In India, alone, 30 percent of power supplied is lost to theft. Because of these losses, energy utility companies are unable to expand services to areas in need of energy, and to continue to improve service quality.
In response to this global energy issue, Local Energy Technology introduced an energy supply and sales solution that addresses the need to diminish non-payment and theft losses, as well as give users more real-time control over their energy utilities.
Through the use of DREDA (dynamic remote energy data accessory) Local Energy Technology allows the real-time control of users’ energy data. The data accessory makes it possible for users to pre-pay for energy through SMS messaging. By simply using “#pay” followed by the dollar amount, users can create a positive balance to begin drawing energy from. This message gives consent from the user to the energy provider to charge funds from an established banking account that Local Energy Technology seamlessly integrates into their platform. The user will receive a prompt SMS response when the transaction is complete.
Similarly, users can get real-time updates on their remaining balance by SMS messaging “#bal” from their mobile device. When the balance is low, users receive a notification via SMS to make additional payments before energy supply is shut off. This allows energy utility companies to avoid unpaid monthly bills for services already rendered. Instead, users are in constant contact with their energy and balance data, paying for the energy as they use it.
DREDA also makes it possible for energy companies to monitor energy usage and track energy theft and siphoning.
Built by industry leaders with backgrounds that include work at Apple, the United Nations Development Programme, the Central Intelligence Agency, and the US Navy, Local Energy Technology is poised to advance their energy solution on a larger scale.
Local Energy Technology was a showcased startup at our Tech Cocktail DCWeek mixer.
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