Today, fully integrated residential energy solutions company Elevation Home Energy Solutions announced a new partnership with smart home automation platform company SmartRent. Accordingly, this partnership will integrate Elevation’s technology into SmartRent’s home automation solutions for rental properties.
In this sense, both companies aim to increase energy efficiency and lower energy costs for renters through this partnership.
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Elevation Home Energy Solutions and SmartRent on partnering to leverage energy efficiency solutions
Fully integrated residential energy solutions company Elevation Home Energy Solutions announced it partnered with SmartRent. Therefore, this partnership will integrate Elevation’s technology into SmartRent’s home automation solutions for rental properties.
Moreover, through this partnership, both companies aim to increase energy efficiency. Besides, they look to lower energy costs for renters.
In fact, Elevation’s proprietary algorithm, which automatically reduces energy consumption during peak electricity pricing times. On the other hand, SmartRent has a broad slate of home automation technology for rental properties.
“Elevation’s technology combined with our ecosystem of smart home solutions delivers a seamless energy control experience to our renters,” said Lucas Haldeman, SmartRent Founder, and CEO. Therefore, “this innovative technology is great to help residents save on energy bills. Additionally, rental property owners and managers now have more visibility into utility usage in vacant homes. For instance, by presenting the opportunity to find significant savings with better controls in place. In brief, we are thrilled about this collaboration and the opportunities it presents.”
According to the companies, and based on a successful pilot program, property owners using the SmartRent platform and their residents can save up to 15% on energy bills with this technology. Besides, this can be achieved by using less energy and by shifting load.
Reception and compliance with ESG commitments
“Many utilities have introduced pricing models where the cost of energy changes hourly, daily, and seasonally. Thus, this cost variability can make it difficult for residents to keep track of when to run appliances or their A/C,” said Erik Norwood, Chief Technology Officer of Elevation. Therefore, “our technology helps residents automatically use less energy when prices are high and shifts that usage to when prices are low.”
Furthermore, this smart energy savings technology can offset the demand for carbon-producing peaker plants. Mainly when it is deployed at scale in partnership with local utility providers.
Accordingly, Elevation and SmartRent share a commitment to Environmental, Social, and Governance (ESG) principles. Therefore, a vital element of this partnership is the environmental benefit it offers, both companies stated.
In fact, the companies recalled a 2020 study of the National Academy of Sciences. In the document, the organization noted that residential energy use makes up about 20% of greenhouse gas emissions in the United States.
Thus, automated energy management maximizes energy efficiency and also uses energy more innovatively. Notably, by reducing demand during high-consumption times and limiting the need for gas-powered peaker plants. Also, by delivering on the environmental value proposition, SmartRent and Elevation can help enterprise customers advance their own ESG goals.