Innowatts announced today that its machine learning and AI-enabled energy analytics platform is now drawing customer usage data from more than 15 million smart meters worldwide.
Companies leveraging Innowatts’ full suite of eUtility advanced energy analytics solutions have successfully lowered commodity costs by up to 10%, eliminated up to one-third of retail operating costs and opened new revenue streams for selling products and services.
The Innowatts platform is also empowering new market participants – such as smart energy communities and CCA’s – with a lower cost operating model through which they can service the retail energy needs of their customers.
In reaching the milestone in less than four years since its inception, the Houston-based energy technology company focused on transforming and streamlining the energy value chain across global power markets, has reached a breadth and deployment pace unparalleled in the industry.
Innowatts’ analytics platform provides vital behind-the-meter intelligence to grid planners and operators to better manage their operations and mitigate variability risks from new distributed energy technologies that are challenging many of the industry’s legacy infrastructure.
Utilities, retail energy providers and smart energy communities tapping the Innowatts’ energy analytics platform are able to integrate customer level consumption data and predictive insights across all aspects of energy supply and delivery, dramatically lowering costs and redefining the way power is bought, sold, managed and consumed.
“Our vision is to radically redefine the entire operating model for delivering energy to customers in a way that is truly a ‘win-win’ for all market participants,” said Sid Sachdeva, CEO of Innowatts.
“Today’s global energy value chain is burdened with over $1 trillion of cost, much of which can be streamlined and even eliminated. By applying our machine learning and AI technology to all aspects of the value chain, we are poised to eliminate the bulk of that inefficiency and leakage in a way that dramatically lowers customer costs and bolsters the profitability and performance of suppliers and other market participants.”