Today, Evolve Energy, a next-generation energy company, launched its app (available on iOS and Android) in Texas to provide access to wholesale electricity prices and optimize energy use for residents across the state. The Houston-based company is backed by Matt Rogers, co-founder of Nest, plus angel investors from Tesla, Energy Innovation Think Tank, Boston Consulting Group and industry leading solar developers. Evolve Energy is currently participating in the Capital Factory accelerator program and is a recent graduate of URBAN-X, the MINI-backed accelerator for startups reimagining city life.
By combining wholesale electricity prices with an AI-powered platform that seamlessly connects to smart home devices, Evolve Energy allows consumers to manage their energy-use effortlessly, while unlocking savings of up to 40% off of electricity rates depending on how and when they use electricity. Users pay a flat $10 monthly fee and input preferences, such as cost, comfort or carbon, to put Evolve Energy’s industry-leading AI platform to work and become more energy efficient, environmentally-friendly and cost-effective with ease.
“The retail electric industry is historically opaque. We want to change that — one house at a time — and serve as a trusted advisor to our customers to help them understand that they can make better choices about their energy consumption and save money in the process,” said Evolve Energy co-founder and CEO, Michael Lee. “We’re thrilled to be launching today in Texas, bringing significant electricity savings and clean energy to consumers across the Lone Star State with our industry-changing technology.”
Through their AI platform, Evolve Energy can identify exactly when wind turbines are spinning and when the sun is shining on solar panels, causing more green energy to flow into the grid. These times of the day also often have the lowest cost wholesale power. With these insights in hand and the ability to seamlessly integrate into smart devices, the company is able to provide customers with more energy when it is green and also decrease energy use when prices are highest, ultimately enabling a true carbon footprint reduction.
Evolve Energy enables customers to pioneer a more sustainable world beyond Renewable Energy Credits and carbon offsets while saving money at the same time. As a result, saving carbon and money is no longer mutually exclusive. In the near future, Evolve Energy hopes to provide smart prepayments, which analyzes and forecasts energy usage to protect customers against rate spikes and ensures a consistent price.
“Evolve Energy is the next iteration of at home convenience that truly puts people first, enables significant energy savings and positively impacts the environment simultaneously,” said Nest co-founder and Evolve Energy investor, Matt Rogers. “I am excited to be a part of Evolve Energy’s journey and to see the many possibilities the company can create in energy efficiency for consumers everywhere.”
40 million U.S. homes will have a smart thermostat by 2020, according to Park Associates. Mirroring growing consumer interest in smart home products and preference for convenience, demand for smart thermostats also continues to increase due to its significant economic and environmental benefits. With Evolve Energy, consumers can potentially save hundreds of dollars on energy and significantly reduce their carbon footprints. The platform is compatible with WiFi connected thermostats from Ecobee and Honeywell with Nest coming soon.
Evolve Energy is currently available in deregulated markets throughout the state of Texas, with plans to expand to new cities soon. In addition to their residential launch, in the coming months Evolve Energy will also offer a similar product for Texas commercial and industrial customers. The app can be downloaded via the Apple App Store or Google Play Store and is compatible with iOS and Android systems.
About Evolve Energy
Evolve Energy is a next-generation energy company, combining wholesale electricity prices with the latest emerging technology and AI platform from Silicon Valley to help customers save big on energy, while reducing carbon footprints. Evolve Energy can save customers up to 40% on electricity rates when combining wholesale power prices, their easy-to-use AI powered app, and unique home energy storage capabilities. Being green and saving green has never been so effortless. Savings can vary depending on how and when they use electricity, go to evolvemyenergy.com/save to find out exactly how much you could have saved with Evolve Energy.
Evolve Energy is currently available to residents in Texas. Customers can check the app to see if Evolve Energy is available at their location. Learn more about Evolve Energy at evolvemyenergy.com.