Innowatts announced that it will extend its suite of AI-enabled analytics and digital energy applications to European markets, where the company has been testing its platform across four million smart meters. The expansion, which will first focus on the UK, Scandinavia, Spain, and other smart-meter enabled regions, is intended to give European energy providers vital predictive intelligence lowers customer costs, personalizes the end-user experience, and facilitates decarbonization.
According to Innowatts, despite the accelerating adoption of smart meters worldwide, energy companies continue to struggle to realize the full value of these investments. Innowatts says its technology gives utilities and retail energy providers a single platform for obtaining smart meter insights and translating those insights into new sources of customer and business value.
By bringing its technology to European energy markets, Innowatts wants to drastically increase the ROI of many smart meter deployments throughout the region.
The company will offer these services through its cloud-based eUtility™ platform, a SaaS (software-as-a-service-solution) that the company says enables energy providers to quickly disaggregate customer-level energy patterns. The platform uses that intelligence to design a highly personalized bundled offering plans, pricing, and product solutions that can be matched to individual customer needs. The solution also offers load forecasts and provides other predictive insights that enable proactive forms of customer engagement including smart energy alerts, notifications, and point solution offerings.
Innowatts also announced the appointment of Dave Boundy as the firm’s European general manager. Boundy has worked for more than 20 years in the energy and digital innovation sector. He previously founded Intel Energy Solutions and served as general manager. Before that, he held multiple senior leadership positions at Intel, driving HR operations, new technology research, and IT service management.
“The rapid expansion of smart meter deployments and IoT technology across Europe has created a trove of new data and insights on customer energy consumption,” commented Boundy. “Innowatts eUtility™ is designed to help energy companies leverage their data and translate it into actionable intelligence.”
So far, Innowatts has analyzed more than 21 million smart meters worldwide, amassing the largest single body of smart meter analytics and machine learning-enabled intelligence on energy consumers.
In addition to its customer engagement applications, energy providers have used eUtility in competitive power markets to lower the cost of bulk supply and risk management, integrate distributed energy resources into their portfolio, and optimize customer pricing decisions.