Friday, August 26, 2011

Home energy management provider EnergyHub raises $14.5M

EnergyHub, a provider of energy efficiency products and associated software, announced today that it has raised $14.5 million in its second round of funding.

The company builds web-enabled home energy software that tracks electricity usage. It sells outlets, surge protectors, thermostats and the like that plug into a home’s network and then exports that data to a web-based interface. It then gives home owners suggestions — such as powering down an air conditioning unit — to save money on electricity.

“We market those solutions through two channels — utility companies and soon, directly to consumers,” EnergyHub’s marketing director Eric Fleming told VentureBeat.?”When smart meters are present, utilities can leverage EnergyHub systems to implement demand response programs.”

Right now the company sells its hardware to utility providers that then install the devices in homes. It plans to sell its energy efficiency hardware directly to consumers and homeowners soon, but Fleming didn’t say when those products would be publicly available.

The company is one of several that are developing “smart grid” technology — that is, managing an electrical power grid with advanced computer algorithms to promote better energy efficiency and reduce electricity waste.

The company also sells a “home base,” a small tablet-like device that tracks all the electricity in a home. EnergyHub already has mobile versions of its application for devices running Google’s mobile operating system Android or the iPhone operating system. But Fleming said that it makes sense for most consumers to get the home base to serve as a hub for the information.

“In order to get individual appliance-level control and information about energy use, you need an in-home network,” Fleming said. “Our Home Base integrates this capability into an in-home display.”

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Tags: energy efficiency, Smart Grid

Companies: EnergyHub

People: Eric Fleming

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