Nov 15 2012
Save energy, make money
Energy Aware, the brainchild of Sauder graduate Janice Cheam could the way energy companies make money. The company’s Power Tab in-home display system is a wireless system that communicates with utilities meters monitor energy consumption in real time, encouraging consumers to use less energy.
The Power Tab system displays real-time energy consumption in kWh and dollars.
It may seem as though utilities companies cannibalize their own business. However, currently, due to delayed or inaccurate meter information, BC Hydro must transmit more energy than is needed to ensure every customer is supplied. Since the Smart Meter is required for the Power Tab system to function, customers are incentivized by energy savings to replace their old meters. This will allow BC Hydro to better collect energy use data and streamline energy distribution, reduce energy theft, improve outage response, and ultimately lower operational expenses by wasting less energy. By capitalizing on the desire for both customers and suppliers to save money, Energy Aware has the ability to enter almost every market. If it is able to partner with companies in countries such as China or India, the company could encourage even more energy-saving innovations- generating profits for itself, and its customers.
For more on the business case for Smart Meters, see: