According to Tech Crunch, a new start-up known as Copper Labs could help revolutionize load management. A current issue for utility companies is that their technology to monitor and adjust to supply issues are outdated. As a result, it can take as long as 30 days for technology companies to get a complete data set.
In response to this issue Copper Labs is seeking to provide real time data in terms of how much energy someone is using. This could allow companies to adjust energy usage, in order to create more efficient practices. This not only saves companies and consumers money; it also prevents damage to the environment.
One limitation Copper Labs has faced is that even though technology exists to create more efficiency, not every household has this kind of technology. For example “smart thermostats” could greatly improve efficiency, but only 20 percent of homes have them installed. To deal with this issue, Cooper Labs is trying to allow for existing technology in homes to integrate with internet connections. Additionally, Cooper Labs hopes that there could be records that keep track of neighborhoods overall, and then generalize that data for individual households.
Moreover, Copper Labs is seeking to make their technology able to track additional types of energy sources, such as solar. The promise of Copper Labs’ technology has attracted funding. Copper Labs recently received $5.5 million in funding. Copper Labs will need to seek additional funding, that will be incumbent upon them being able to make further progress in their technology.
Many agree that the technology shows a lot of promise and is seeking to accomplish something that utility companies have failed to do. However, creating with wide network that can track real time data will not be easy, otherwise someone would have done it already. It will be interesting to see how this technology develops and the impact it has on load management.