Tuesday, January 27, 2015
Opower: Conserving Energy, Saving Money
Technology continues to change the way we live. Utility companies across the United States even make use of these technological platforms to continue on making a difference in the experience they provide to their customers. One of the trusted sources of these technology platforms is Opower. Founded in 2007 and headquartered in Arlington County, Virginia, the business provides cloud-based software to the utility industry.
The software that Opower provides to their clients do not just change the way they deal with their customers, it also promotes the reduction of their energy consumption. 28 out of the 50 largest utilities in the country make use of the platforms offered by Opower. With these platforms, utility companies are able to minimize their carbon emissions, while taking part in the transformation of household energy conservation. The operations of the company are no longer constricted within the United States as they have started penetrating the international markets. Currently, the business operates in 9 countries and reaches more than 50 million households in these nations.
Opower holds one of the largest energy datasets in the world. Through this technology, the company is able to help save more than 5 billion kilowatt hours of energy which translates to more than $575 million in utility bills. With the amount of energy saved, the business is also able to prevent the production of more than 7 billion pounds of carbon dioxide. By partnering with more than 95 utility companies across the globe, Opower is also able to help promote the value of conserving energy to their end users.
Employing more than 560 associates, the company has more than $65.7 million in venture capital. It continues to trade publicly on the New York Stock Exchange, using the symbol OPWR. Some of the largest customers they deal with include Southern California Edison, National Grid, Duke, Commonwealth Edison, PG&E and the First Energy.