November 1, 2011
Now that some parts of this country have experienced bizarre October snowstorms, the heat has been turned on – and there goes the electric bill. If you want to reduce your energy bill once and for all, check out Durham, NC-based PlotWatt, which recently showcased at our Tech Cocktail Bloomington event – they provide customized money-saving recommendations.
Founder Luke Martin said in an email:
Imagine trying to understand your grocery bill if all you got was a monthly bill and the store had no price tags. This is how everyone currently pays for electricity. We solve this problem and go a step further by breaking down your energy consumption per appliance and then providing targeted recommendations and warnings.
Here’s how it works: Their cloud-based algorithms analyze smart meter data to figure out the energy cost of your appliances – without monitoring the individual appliances. The PlotWatt Energy Dashboard then boils that insight down into easy-to-understand feedback and recommendations.
Can you believe that beta users have cut their bills by as much as 50%? Pretty nice!
Their 2 closest competitors aren’t really much competition, which is great for PlotWatt. Google PowerMeter and MS Hohm rely on unrealistic near term business models in which utilities would share their smart meter data freely en masse. Both lack helpful analytics for normal consumers. Opower, meanwhile, only encourages 2-3% energy bill reduction on average, while PlotWatt produces a 20% energy bill reduction on average.
If this sounds good to you, check out their website today to get started.
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