{"id":14353,"date":"2016-11-06T21:49:09","date_gmt":"2016-11-07T02:49:09","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/can-thinkeco-help-users-reduce-their-electric-consumption\/"},"modified":"2016-11-06T21:49:09","modified_gmt":"2016-11-07T02:49:09","slug":"can-thinkeco-help-users-reduce-their-electric-consumption","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/can-thinkeco-help-users-reduce-their-electric-consumption\/","title":{"rendered":"Can ThinkEco Help Users Reduce their Electric Consumption?"},"content":{"rendered":"

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ThinkEco is a New York City based company in the Internet-of-Things (IoT) and energy spaces. They\u2019ve created a piece of hardware called the \u201cModlet\u201d which connects to their website and mobile apps, allowing customers to monitor their home appliances remotely [1]. The software allows the user to view their personal electricity consumption, be able to control it, and consequently save energy. More\u00a0importantly for the\u00a0fiscally-motivated, it helps significantly reduce the customer\u2019s electricity bill [2].<\/p>\n

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Following both the IoT technology trend and the shift towards eco-consciousness, ThinkEco is capitalizing on a growing market. With ThinkEco, you can control devices such as your air conditioner (the most common use), your TV (a high energy expender), or even your smaller appliances like a toaster [3]. Unbeknownst to many, these devices use electrical energy when they are plugged in even when they are turned off.<\/p>\n

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Users can also sign up for a program that helps combat high energy use days by decreasing energy consumption for short periods of time during these days. The company believes this helps prevent brown outs and black outs [4].<\/p>\n

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Consumer Products <\/strong>[3]<\/p>\n

\"\"\u00a0 \u00a0 \u00a0\"\"\u00a0 \u00a0 \u00a0\u00a0\"\"<\/p>\n

App for monitoring devices and energy use \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Extension cord\u00a0Modlet \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/em> \u00a0 Modlet plug<\/p>\n

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There are two main use cases for ThinkEco\u2019s products:<\/p>\n

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  1. More moderate A\/C temperatures — If you\u2019re leaving work at the end of a hot summer day, instead of arriving home to a hot house and cranking the A\/C to a very cold temperature (a common behavior), using ThinkEco\u2019s app, you can turn you\u2019re A\/C on at a more reasonable temperature before you get home. While you will be consuming a few more minutes of air conditioning, setting your AC to a more temperate temperature will still very likely save energy since cold A\/C temperatures consume so much energy [4].<\/li>\n<\/ol>\n
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    1. The demand response day program \u2013 These days pertain predominantly to A\/C units as well. Three times per summer, your A\/C (and\/or other modlet-connected devices) will shut off for 5 minutes and turn back on 7 degrees warmer [3]. In general, that\u2019s not enough for the average person to notice. Despite only affecting 15 minutes out of a user\u2019s entire summer, they help users save on their electricity bill dramatically [2].<\/li>\n<\/ol>\n

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      B2B<\/strong><\/p>\n

      In addition to the direct-to-consumer products, ThinkEco works closely with energy companies such as ConEd [6], EnergyStar, and National Grid. You can learn about and obtain ThinkEco products through their respective sites. These companies support ThinkEco because:<\/p>\n

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      1. They get data about their users from the program.<\/li>\n
      2. They get bad press about low income neighborhoods in particular being hit by brown outs and black outs.<\/li>\n<\/ol>\n

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        What they\u2019re doing right<\/strong><\/p>\n

        ThinkEco is an innovative company that creates value for all involved parties.<\/p>\n