We see a lot of coverage of cloud based energy efficiency tools for either the home (startups like EcoFactor and Nest) or for large commercial buildings (the likes of Schneider Electric and Siemens). But what about your medium sized, not terribly sophisticated factory in say, China. Does it care about improving its energy efficiency?
Startup Efficiency Exchange is betting yes. China has millions of factory sites and the energy management software is now in 100 factories. It’s user interface mimics a factory’s electricity bill so that factory managers can easily just enter in certain data points such as consumption data, factory location and reactive power charge. The software runs a mini-audit, the kind a consultant would ordinarily run.
The recommendations are of the low hanging fruit variety, for sure. The most basic recommendation is often just a check on whether the customer is paying the right power rate all the way through making equipment maintenance suggestions. I like the simplicity of the product, the huge market potential, and the low hanging fruit nature of the suggestions. Fees for the product appear to be pretty reasonable as well. Not the least of it is that we’re seeing a startup attack the huge efficiency potential in China.