With the majority of residential energy consumption due to heating and cooling a home, the HVAC system was the obvious choice to focus our energy savings efforts. And with 140M+ homes in North America, the market for energy efficiency is enormous. So the company set out to deliver sustainable double digit energy savings with a high ROI for our partners.
Knowing that we could leverage residential broadband internet access and inexpensive network-connected thermostats, we built a SaaS platform with sophisticated algorithms running on a compute-intensive, scalable backend system. Processing power is bountiful in the cloud and we utilize a Hadoop cluster to minimize HVAC energy usage in real time.
Our patented analytics deliver convenient and dramatic energy savings for consumers; up to 36% HVAC energy savings and shed up to 3KW per home during demand response events.
EcoFactor markets its home energy services through channel partners such as utilities, energy retailers, broadband service providers and HVAC companies. Utilities leverage our integrated demand side management platform to quickly launch a superior energy efficiency service as well as a residential demand response program with exceptional customer satisfaction. Broadband service providers are able to increase their revenues per subscriber with new energy efficiency services, increase share of wallet and decrease customer turnover. Our services are currently sold through partners such as Comcast, Nevada Energy, SMUD, Reliant and other broadband providers and utilities.
Based in Redwood City, Calif., EcoFactor is privately held, and funded by Aster Capital, Claremont Creek Ventures and RockPort Capital Partners.