In 2007, Dan Yates and Alex Laskey founded Positive Energy with a simple goal: to make a better utility bill. In 2009, the company rebranded itself and became Opower, a top company within the energy efficiency space.
Opower learned early on that consumers don’t save energy because it’s good for the environment or because it saves money, but instead it’s because they want to compare their energy consumption to their neighbors. As a result, the company combines behavioral science and energy efficiency by providing customers with personalized energy reports to show how much they’re using and feedback on how to reduce consumption.
Today, Opower works with 8 of the biggest U.S. utilities and has an IPO on the way. While these companies are in the business of selling energy, they have partnered with the energy saving company for a variety of reasons: peak reduction and broad-based customer engagement, to differentiate their brand by helping customers save energy, interest in a revenue adjustment mechanism that recoups, and lastly, the ability to recoup lost revenue from an energy efficiency program.
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