How the Opower Marketplace Suite Could Impact the Energy Landscape

Amanda Gassé for Zondits, November 19, 2015. Image credit: geralt

The emergence of smart home technology has made customers more energy-savvy than ever before. The new marketplace platform was launched last week and it offers increased opportunity for utilities to become energy advisors for their customers. Opower partnered with software developer Enervee to develop the marketplace and supply energy efficiency ratings on more than 600,000 goods and services. This resource will give consumers the ability to compare the eco-value of products and make smart energy-buying decisions.

“The energy landscape is changing,” said Opower CEO Dan Yates in a statement on the company’s website. “With the rise of electric vehicles, distributed generation, smart thermostats and battery storage, customers have more options for energy products and advice than ever. But research shows that customers already trust their utilities, and our joint solution with Enervee helps further position utilities as energy advisors, enabling them to expand their relationship with customers beyond the energy bill.”

The Opower Marketplace Suite is designed to give utilities more information to target customers for energy efficiency programs. The analytics dashboard offers evaluation, measurement and verification (EM&V) ready data. This allows utilities to track an individual customer with a specific incentive or rebate, and then rate the impact of these offerings on that individual’s energy usage. This new platform will help utilities scale the performance of existing incentive programs, drive new ones, and gain advanced analytics to measure data. The benefits extend beyond energy efficiency and may include a reduction in greenhouse gas emissions, lower energy prices, job creation, and potential reduced construction costs for utilities.

Opower Launches Marketplace Suite in Partnership with Enervee

Opower, November 12, 2015

Opower (NYSE: OPWR), the global leader in cloud-based software for the utility industry, today announced the launch of the Opower Marketplace Suite. Built in partnership with Enervee, whose software is designed to change the way consumers buy energy-using products, Marketplace Suite arms customers with information about more than 600,000 product and service offers from hundreds of retailers. Bringing a data platform oriented company like Enervee onto Opower’s Customer Engagement Platform will enable utilities to effectively target customers with incentives and offers, drive higher program participation rates and unlock new business value from their customers’ energy efficient purchases.

The Marketplace Suite features:

  • The broadest selection of products and services with over 600,000 product offers developed and updated daily across hundreds of retailers, each with a unique energy efficiency rating developed by Enervee.
  • Customer targeting and marketing tools to help utilities improve the scale and performance of existing incentive programs and drive customers to new ones.
  • An advanced analytics dashboard that produces EM&V-ready data and allows utilities to tie every single lead, customer, and dollar back to the marketing initiative that created them, resulting in highly cost-effective and targeted marketing campaigns.
  • A streamlined, mobile-ready user experience that modernizes the cumbersome, paper-based rebate redemption process, so customers can easily apply for rebates online.
  • Seamless integration with existing utility web portals, empowering customers with personalized energy insights and product recommendations.
  • Potential new revenue streams by giving utilities the opportunity to capture commission on product sales and advertising dollars without being burdened by backend logistics and order fulfillment.
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