Energy is becoming more and more expensive. As such, efforts have to be made not only to save energy but also find more eco-friendly sources. People’s perception of environmentally friendly initiatives has suffered in the past from the idea that eco friendly energies are also much more expensive. Smart grid technologies also suffer from a lack of public awareness and late governmental support. GE’s project intends to promote innovative technologies and continues to invest in Ecomagination R&D. This year’s edition’s theme was “Powering your Home” and five companies were awarded $100,000 each to salute their project and help them develop their businesses.
Among all competitors (950) the company PlotWatt stood out for offering a technology with broad application, true market potential and of course a real eco-friendly impact. The product that awarded PlotWatt the grant is a free application that features cloud-based algorithms to analyze home energy data and provide appliance-level insight. The application helps the customer to save up to 20 percent off electric bills by optimizing the energy consumption and giving recommendations about the house’s energy use.
PlotWatt was founded in 2008 and only counts six employees as of today. However, PlotWatt’s technology is receiving more and more help along its way and the potential success of the application should enable it to expand rapidly so as to serve a large number of customers soon.