DANA POINT, Calif.--(BUSINESS WIRE)--GridX, the leading enterprise rate platform provider to modern utilities, and Sense, the leader in real-time home energy intelligence, today announced a partnership that will translate smart meter data into meaningful benefits for customers and the grid. The integrated solution will give customers more insight into, and control over, energy usage and costs in real time. GridX and Sense are backed by Energy Impact Partners (EIP) and highlighted their innovative collaboration at the EIP Annual Meeting today.
According to Guidehouse, the global penetration of smart meters will climb from approximately 44% at the end of 2020 to 56% by the end of 2028, resulting in over 1.2 billion devices globally. However, utilities have struggled to make sense of and capitalize on the data these meters have provided. That is poised to change with next-generation meters now being deployed. Using grid edge intelligence to identify where and when energy is consumed in the home, and applying real-time pricing signals, it’s now possible to unlock and reveal the best clean energy choices for consumers. This not only helps stabilize the grid, but it also saves customers money and reduces their carbon footprint.
“The evolution of smart meters into a grid edge application platform enables real-time device level intelligence. This is instrumental in understanding how consumers are using energy and Sense is the established leader in providing this intelligence through embedded software in the latest generation of smart meters. And now, the partnership with GridX has solved the energy cost part of the equation,” said Chris Black, CEO GridX. “Increasingly, the problem isn’t how much energy we all use, it’s when we use it. The price of energy changes radically throughout the day, so understanding where you are using energy is no longer enough...you must understand how much it costs when you use it.”
Electric vehicles (EVs) provide a compelling example of this approach in practice. EVs are growing in popularity but it’s difficult to know if a customer has purchased one. With Sense, the presence of a new EV is identified quickly after it’s plugged in, allowing owners to immediately understand the impact to their energy use. With that knowledge, Sense can engage the customer through their mobile app and use GridX’s real-time localized, dynamic pricing data to show how EV charging will impact their bill, suggest different rates, and provide pricing insights down to each device. Sense can provide this visibility to utilities as well, allowing them to optimize grid infrastructure investments by shifting EV charging out of the peak, which also saves the customer money on their bills.
“Sense is empowering people to make their homes more efficient and helping to reduce the infrastructure spend required to decarbonize,” said Mike Phillips, CEO, Sense. “By adding a scalable solution for dynamic pricing information, we can now encourage even greater consumer action - including the adoption of automated controls of key loads, helping us achieve our decarbonization goals and ensuring everyone is enrolled in the optimal rate. This partnership with GridX brings together the ideal combination of solutions that will change the way utilities optimize the grid and help people better use energy in their homes.”
About GridX, Inc.
GridX partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Enterprise Rate Platform helps these organizations to develop new products and business models to achieve their clean energy goals; quickly operationalize new offerings in their billing and settlement processes; and better engage with their customers for broader program adoption. GridX’s platform is used by leading utilities, retail energy suppliers and energy ecosystem OEMs to serve more than 25 million homes and businesses. For more information, visit www.gridx.com.
Sense's mission is to reduce global carbon emissions by making homes smarter and efficient. We empower people to care for their homes and families while contributing to a cleaner, more resilient future. Founded in 2013 by pioneers in speech recognition, Sense uses machine learning technology to provide real-time insights on device behavior, even for those devices that are not "smart." Customers rely on Sense for a wide range of uses including monitoring their home appliances, determining whether they left appliances running and identifying how to reduce their energy costs. Sense is headquartered in Cambridge, Mass. To make sense of your energy, visit www.sense.com.