Knowing is half the battle, especially when it comes to the amount of energy you are consuming in your home. That’s why technology company Honeywell and software information company, Opower have teamed up to develop energy management tools for homeowners.
The companies have announced plans to launch an application that can be accessed by web portal or mobile phone and will measure, analyze and report home-owner’s electricity use. Homeowners will also be able to tap into detailed information about their thermostat, which accounts for almost 50 percent of all residential energy consumption.
The new platform combines behavioral science with data analytics to help monitor home energy usage. According to Opower, its products have helped consumers save a combined total of $50 million on energy bills. The company predicts that number will grow to $100 million as it progresses toward its goal of one terawatt hour of savings by the end of 2012.
The companies will pilot the new technology with select utility partners over the next few months. The application may eventually support utilities’ efficiency programs for light commercial customers as well, depending on the response. Honeywell also says it plans to sell a similar product through residential contractors and retailers.