The Smart Side of Energy: Electricity Rate Programs Help Reduce Cost Per Kilowatt

Many utilities have started to offer special rate programs to customers designed to change behaviors, reduce the energy used during peak periods, and encourage more consideration of energy consumption. Retail energy providers in competitive markets are more incentivized to market attractive rates and differentiate their brands.

Smart thermostats are critical to the success of demand response (DR) programs. The security industry is in a great position to expand its adoption and leverage consumers’ growing interest in energy savings, by including these devices as part of the system sold to homeowners.

Time of Use

Time of Use (TOU) programs are often marketed as “free nights and weekends” rather than using the “time of use” phrase. Smart devices are best paired with a program where time-shifting high-use activities can be automated or at least controlled remotely.

• Smart washers and dryers can have their cycles delayed
• Smart EV chargers can delay charging until the middle of the night
• Smart thermostats can pre-heat or pre-cool a home in anticipation of a rate increase during unfavorable rate windows as described in the TOU plan

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Join us for Smart Energy Summit 2023! Smart Energy Summit: Engaging the Consumer addresses the evolution of the consumer utility market, the impact of COVID-19 on energy management programs, and new opportunities to drive engagement in utility-sponsored programs. Virtual panels and networking sessions, featuring executive-level experts from multiple industries, address strategies for utilities, service providers, retailers, software providers, and manufacturers to expand and monetize energy management and other energy-focused offerings through consumer engagement, new business models, unique partnerships, and innovative technologies. Register now: www.ses2023.com