With Millions Raised, EnergyX Solutions Aims to Help Lead the Clean Energy Revolution
TORONTO, Canada – (January 25, 2021) – With $5 million in dilutive and non-dilutive funding raised and 100% growth each year, EnergyX Solutions is in a position to help lead the clean energy revolution. Its Software as a Service (SaaS) product comes at the right time, considering the country’s new commitment to help retrofit buildings to meet clean energy and conservation needs. Many utilities and organizations have already begun using the technology, while others are in the process of getting on board to do so.
“We are excited about being ready at the right time, and now is undoubtedly the right time,” explains Nishaant Sangaavi, the co-founder and chief executive officer of EnergyX Solutions. “We are on a mission to remove barriers and empower homeowners to lower their energy usage, save money, and reduce their carbon footprint.”
The software popularity comes at a time when President Biden has announced his clean energy plan for the next four years. His plan includes upgrading 4 million buildings and weatherizing 2 million homes over the next four years. The goal is to retrofit the homes and buildings to help them become more energy efficient.
EnergyX’s software is an artificial intelligence model that is data-driven, offering flexibility and strong collaboration with utility partners. It has been designed to includeprogram automation, workflow and vendor management, and can run a utility energy efficiency program end to end. Scalable, accurate building audits paired with user-focused and digital program automation will be a critical piece of the retrofit programs of tomorrow.
Utilities and organizations who use the EnergyX Solutions software are able to get the highest net savings per program dollar spent. Additionally, 70% of homeowners who use the software take steps to improve their energy efficiency; the software reduces the number of calls to call centers, helping to save utilities money; and it offers fully customized solutions so that people get a unique utility customer experience.
Some factors that are key to meeting retrofit goals include:
- Evaluate needs. The first step in any clean energy project is making sure buildings aren’t using more energy than they need. In a typical home, air leakage alone can account for 25–40% of the energy used for heating and cooling. This is why energy efficiency has to be the first step – we need to do deep retrofits on our building stock to make sure buildings are operating efficiently, and then switch them over to a clean source of energy.
- Conduct an audit. Energy audits are the first step in figuring out which retrofits a building requires to operate at peak efficiency. They are often required for rebate programs, and they outline where the home is losing energy and detail how much a homeowner stands to save. These reports are essentially a customized cheat sheet that tells people how to save money and be more comfortable—and they are very compelling. More than 60% of households that have an energy audit make an energy efficiency upgrade as a result.
“There’s no better time than now to get in on helping people become more energy-efficient,” added Sangaavi. “We are excited to be on the forefront of a movement that is going to be so front and center in the coming months and years. There is no way to meet these ambitious goals without scaling the energy audit process.”
Although it’s wise to have an energy audit, only a fraction of homes have ever had one. They are costly (in both time and money) for the utility to deliver, and they are a burden for the customer. Innovative technology like EnergyX’s Retrofit AI can perform these analyses with the same accuracy as an on-site audit without ever visiting the home, thanks to machine learning and data science. This gives us the power to audit every building, identify those essential deep retrofit opportunities, and kick-start the clean energy revolution in a way that is informed by data.
To learn more about the EnergyX Solutions software, visit the site at: https://www.energyxsolutions.com.
About EnergyX Solutions
EnergyX Solutions Inc. is an AI-powered SaaScompany that enables utilities to increase customer participation in energy efficiency programs while simultaneously lowering the utility’s cost to engage and serve a customer. Its MIT award-winning technology is white-label licensed by utilities and government organizations to help them engage customers, manage programs and hit energy efficiency targets. To learn more about EnergyX Solutions, visit the site: https://www.energyxsolutions.com.
