According to a study conducted at Duke’s Sanford School for Public Policy, which was based on over 3 million records spanning from 1994 all the way to 2010, individuals enrolled in electricity auto-pay programs, on average, are paying 8% more than those who are not enrolled in those same programs. With basic waste management tip’s, such as turning off your lights before leaving the house being the most important first steps to energy conservation, it is very telling when studies affirm that auto-pay programs are leading to more energy waste. Numbers like the aforementioned study are scary in that they show the product of not monitoring your energy output, and how mindless waste just becomes a daily occurrence.
With the rise of new forms of energy waste management, the world is seeing products more representative of computers or scientific calculators than of the sleek solar panel, or wind turbine. The renewables industry is starting to see a more economical form of energy conservation in the monitor and controller aspect of the industry. Furthermore, these companies are gaining more interest. Companies like lucid, who just received $14 million in their Series B funding round, are starting to invest in the smart home concept, which seems to be the future of the renewables industry. Lucid is a commercial building energy data analysis company, which monitors an expansive array of energy outputs that commercial buildings emit, and compiles it in an effort to measure what is being wasted. Energy monitoring companies are the future of the renewables industry, and are much more prominent today than 5 years ago, built on the foundational vision of “what can be monitored can be fixed.”