20110921 opower english_combined


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20110921 opower english_combined

  1. 1. Case Study 7 OPower Sep 21, 2011 ⓒ 2011 insprout Corporation. All rights reserved
  2. 2. Company Overview Name Opower, Inc. 1515 N. Courthouse Rd, 8th FloorHeadquarters Arlington, VA, 22201Year Founded 2007 Employees 217 employees (registered on linkedin as of Sep. 2011) Business Provides a multi-channel customer engagement platform that Sectors delivers energy efficiency gains to clients Utility companies Partners (more than 50 utilities—including 8 of the US’s 10 largest) 2 ⓒ 2011 insprout Corporation. All rights reserved
  3. 3. Funding History Year Amount Participants in the RoundSeries A Aug. 2007 1.7M New Cycle CapitalSeries B Dec. 2008 14M New Enterprise Associates Accel PartnersSeries C Nov. 2010 50M Kleiner Perkins Caufield & Byers Total - 65.7M - 3 ⓒ 2011 insprout Corporation. All rights reserved
  4. 4. Focus Area Block Diagram Demand Response Network Household Power Company Energy Business Generator AMI HEMS Household System Controller Devices Distribution Energy MDMS Concentrator Communication Storage Automation System Building/Commercial/Industrial Energy Generator Measure Control Gas Company BEMS/FEMS Household Controller Devices Service Energy Provider StorageSystem Structure Wired/Wirelsss Communication Unit MDMS Smart Meter EMS Controller Concentrator 4 ⓒ 2011 insprout Corporation.※Source: “Technologies and Standardization of Smart Grid” published in 2010 by Japan Standard Association All rights reserved
  5. 5. Opower’s Solutions Deliver personalized information about Home energy usage in home or small business,Energy Reports and offer easy-to-follow tips that can quickly lead to energy saving Offer personalized insights about home energy use, tools that allow users Online Tools to choose the optimal energy rate plan for their lifestyle, and individualized energy-efficiency tips Tell customers how much energy theyve used during the month (rather than atEnergy Alerts the end), and let them know about high bills before its too late to do anything about them. 5 ⓒ 2011 insprout Corporation. All rights reserved
  6. 6. Opower’s Business at Glance$30 Million 450GWh Savedin Revenue 57 utilities Over 10 Million $50 Million Saved Household Utility Household Household Energy Opower Utility Savings Household (Avg. 3-5%) Household Utility Household ⓒ 2011 insprout Corporation. All rights reserved
  7. 7. Benefits for Utility Companies Case: California municipal utility California municipal utility began sending Home Energy Reports to 25,000 customers in November 2009. Savings rates have trended even higher year-over-year. Partners with Itron, the utility’s AMI and meter-data management system provider.Opower and Itron have built a data extractor that makes transferring data into Opower’scustomer engagement platform easy. ⓒ 2011 insprout Corporation. All rights reserved
  8. 8. Key Success Factors!? So far, two things stand out and are worth mentionOpt-in, not Opt-out In this early stage of the market, it seems like programs that are opt-out (sent unless the customer says they don’t want it), not opt-in (only sent if the customer wants it), are the ones working. Utility is one of a few types of companies that can send its customers this type of information without getting an opt-in agreement, and the mailed Opower energy bills have a very high open rate, because they look just like a utility energy bill.Good Relations with Utilities Google first launched PowerMeter, some utilities saw the tool as a threat to the relationship they have with their customers. 8 ⓒ 2011 insprout Corporation. All rights reserved
  9. 9. CitationsEnglishhttp://edition.cnn.com/2010/TECH/innovation/12/03/opower.energy/index.htmlhttp://gigaom.com/cleantech/5-reasons-google-powermeter-didnt-take-off/http://www.greentechmedia.com/articles/read/OPower-Making-Millions-in-Home-Energy-Efficiency/Japanesehttp://www.facebook.com/note.php?note_id=235257263163077http://ippei.posterous.com/smartgrid-32 9 ⓒ 2011 insprout Corporation. All rights reserved
  10. 10. TO BE CONTINUEDWe will analyze in detail various EMS technologies and companies in those domains 10 ⓒ 2011 insprout Corporation. All rights reserved