NEW YORK, UNITED STATES, February 23, 2021 /EINPresswire.com/ — GridRewards™, a groundbreaking program and accompanying free, mobile app that pays users up to 20 percent of their annual energy bills for reducing usage at peak demand hours, is now available in all areas with Con Edison as the utility provider. In addition, through leveraging Con Edison’s smart meter technology, users’ can track and lower their monthly utility bills.
Any Con Edison customer can participate in the first-of-its-kind, cash-payout energy efficiency program by downloading the GridRewards™ app via the App Store, Google Play. Working in partnership with Con Edison by leveraging smart meter technology, the GridRewards™ app prompts users to take simple electricity reducing actions during high demand time periods, earning cash for participants and diminishing the need for pollution-inducing “peaker” powerplants.
The award-winning GridRewards™ technology was developed by AI technology leader Logical Buildings.
“GridRewards is providing a massive opportunity to show how real-time intelligence and a widespread, gamified app to reduce energy usage, can create real income for the people who opt into the program,” said Logical Buildings Vice President of Operations David Klatt. “Especially with many families potentially using more energy while working from home and facing greater financial uncertainty, this is an important new way of making sure more people can share in the benefits of smart energy usage.”
How it Works
When energy is peaking on the grid, Con Edison pays GridRewards™ participants to help curb usage. Simple actions, such as raising cooling setpoints by four degrees for a handful of designated periods in the summer, can earn a check in the mail. Additional activities, including dimming lights, avoiding electric hot water heating, and unplugging energy-intensive appliances will add to these cash rewards and, concurrently, lower monthly utility bills. Without having to invest in hardware or equipment of any sort, Con Edison customers who have smart meters can watch their energy usage drop in real time on the app.
Following the successful pilot program this past summer, the GridRewards™ program roll-out was launched in conjunction with the free app in the fall. Consumers in the pilot program received an average of $200 in cash or 20 percent of their annual electric bill, with some even exceeding $700 within that brief period.
To date, more than three million smart meters have been installed in the New York Tri-State area by Con Edison, all of which are accessible through the app. Moreover, an estimated five million smart meters are slated for installation in residential and commercial properties by 2022. The Smart Meter Initiative is currently concentrated in Manhattan, Staten Island, Queens, Brooklyn, and Westchester, with installations slated for further expansion to all boroughs by next year.
In January, the Consumer Technology Association (CTA) honored Logical Buildings at this year’s virtual Consumer Electronics Show (CES) with the “Energy Efficiency Product of the Year 2021” award for the GridRewards™ app and technology. Logical Buildings won “Integrator of the Year” at the CES 2020 Las Vegas event for its out front mobile technology, which integrates utility smart meters with IoT smart devices to generate revenue and cost reductions for an expanding client base.
“We’re proud to be globally recognized as smart building technology leaders with our two consecutive CTA award wins,” said Logical Buildings CEO Jeffrey Hendler.
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About Logical Buildings
Logical Buildings is a smart building technology software developer, IoT and DER systems integrator, and smart building services provider. Integration of Logical Buildings’ products and services in large multifamily, commercial, industrial, and manufacturing properties are recognized for reducing operating expenses, generating revenue from existing mechanical equipment, and enabling wireless connectivity. Its Smartkit AI, Smart Building AI IoT platform and software analytics, and EPAX Energy Procurement Advisory and Execution software platforms are contracted to owners and operators of more than 200 million square feet nationwide. Logical Buildings introduced the consumer based GridRewards™ in a pilot program in summer 2020 and launched the app this past fall. www.logicalbuildings.com
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