OhmConnect, Inc. - 2019 Star of Dynamic Efficiency | Alliance to Save Energy

2019 Star of Dynamic Efficiency

OhmConnect, Inc.

OhmConnect is a residential demand response software platform that gamifies saving energy when the grid is stressed. The service is straightforward for users - get paid for saving energy. With over 500,000 signups across the US and Canada, OhmConnect aggregates users’ energy savings during #OhmHours, our energy-saving events, and sells the aggregated reductions of electricity (i.e., negawatts) as virtual power to the energy markets to help balance the grid. Our state-of-the-art software platform is available to all residential utility customers, who can respond to #OhmHours by making behavioral changes, like turning off lights, as well as by taking automated actions by connecting their energy-efficient smart devices (including Wi-Fi thermostats, smart plugs, etc.) to the OhmConnect platform.

OhmConnect was started to bridge the gap between the two smart, innovative technical spaces of the smart home and the smart grid. As the Internet-of-Things (IoT) space has emerged, energy-efficient smart devices communicate with each other based on a customer’s preferences and needs to ensure ultimate comfort and energy efficiency in the home. In parallel, the smart grid has evolved with the mass deployment of renewables and clean technology. Using OhmConnect, energy-efficient IoT devices automatically communicate both with each other and with grid to save energy, making smart decisions to unlock the full value of customers’ energy usage.

Currently, over 30,000 devices simultaneously turn off every energy-saving event and back to their original state when the #OhmHour is over. Devices come from partnerships with Google/Nest, Amazon, Honeywell, Schneider Electric, TP Link, and a host of others, and our store has shipped over 13,000 smart devices by those manufacturers directly to our users.

By deciphering the electricity grid rules and regulations, OhmConnect has structured the pathway to have the electricity markets pay homes to provide grid balancing. Each user provides $110 worth of value annually by adjusting their electricity use 1-2 hours per week. OhmConnect is currently receiving revenue from energy markets in California and Ontario, Canada. In 20116, 2017, and 2018, OhmConnect won contracts with three California Investor-Owned Utilities: Pacific Gas & Electric, Edison International (dba Southern California Edison), and Sempra Utilities (dba San Diego Gas & Electric). The contracts entail energy delivery for nearly 4 power plants (up to 100 MW) to be replaced by virtual reductions of electricity. These power plants have generated predictable and growing revenue - $1.6m in 2016, $4.6m in 2017 and $8.8m in 2018. OhmConnect delivers similar energy reductions in Ontario, Canada via the Independent Electricity System Operator.

In summer 2018, users reduced over 850 MWhs between June and September and up to 105 MW in one energy-saving event in August. On average, a user saves 0.5 kWh each #OhmHour event, and over time, his or her energy usage reduces 5% after being involved in OhmConnect after one year. To date, OhmConnect has offset a total of 2M pounds of carbon through its #OhmHour events and paid its users over $9M.

All California homes are eligible in OhmConnect’s current model ($1.5B opportunity), and OhmConnect is the leader in California’s nascent market. Going forward, OhmConnect will expand outside of California, into the $15B US opportunity. More importantly, OhmConnect will expand the value of each user by moving the experience from 1-2 hours a week to 168 hours a week. Leveraging smart devices in the home, OhmConnect will provide a holistic energy-efficient experience that builds off of our highly engaged user base to create increasing value per user.