Home EntrepreNews Startup monitors electricity consumption, helps users to improve energy efficiency
Startup monitors electricity consumption, helps users to improve energy efficiency
SmarterMeter, a platform that monitors electricity consumption via Wi-Fi, allows consumers to track their usage prior to receiving their official bill. The collected data—said to be 96% to 99% accurate—can be used to double-check kilowatt-hour (kWh) readings from an electricity provider.
Founded in May 2019 as a spinoff project from an electronics engineering undergraduate thesis, it consists of an electricity meter installed onto a household circuit panel and an electricity management platform capable of comparing consumption results, generating user-friendly charts, and sending notifications when a user is about to exceed a set electricity budget.
A performance report is also sent via e-mail every other week, along with feedback aimed at improving energy efficiency.
“We believe that real energy efficiency comes from a community of informed smarter consumers,” said Reinelle Jan C. Bugnot, founder and CEO of SmarterMeter Inc.
“We plan to partner with condominiums, housing developers, or subdivisions to launch multiple SmarterMeter units at scale to produce localized communities of Smarter consumers, which then yields a culture of energy efficiency,” he added.
SmarterMeter won the Blue Legacy Innovation competition last year, which provided the company enough funding to have it incorporated in the Securities and Exchange Commission in November 2020.
Three- to 12-month subscription plans, starting at P375 per month, are available. A bond fee is collected at the start of subscription as insurance for the device installed in the subscriber’s home, which will be returned in full upon device retrieval at the end of subscription.
SmarterMeter participated in QBO Innovation Hub’s incubation program. Launched in 2020 in partnership with the US Embassy in the Philippines, the program provides financial support in the form of grants, loans, and fundraising opportunities, and mentorship to startups. — Patricia B. Mirasol