Power meter monitor could save you 10% on electricity bill
A new invention by four young Fredericton entrepreneurs aims to help consumers reduce their energy consumption through a new kind of monitor.
Keelen Gagnon, co-founder of SimpTek Technologies calls it the "personal trainer" of energy efficiency.
He says the system will look at your energy consumption patterns, tell you where you are using the most electricity and make recommendations to reduce it.
Bahareh Atoufi and her family agreed to allow SimpTek Technologies to install the new monitor on their power meter and says learning how her habits affect her energy bill has been eye-opening.
"The first time I was able to read the data from the power meter, I was really excited...okay so that's how much the kettle is using," Atoufi said.
"It connects to any type of meter...and we can read power data every 32 seconds."
Gagnon says you can actually see how much power is being used by each appliance in your home.
"If you say, 'Optimize my heating,' we can actually look at the temperature outside, look at your energy consumption behaviour and we can actually optimize heating without creating any discomfort for you in the home."
Gagnon says the meter also tells you how much you have saved, and how your energy consumption compares to your friends.
"Just by telling you how to save your energy can help you save five to ten per cent of your total consumption," Gagnon said. "And by giving you a little bit of control, like automation, you can reduce a significant amount of energy."
SimpTek working with NB Power
SimpTek Technologies CEO Asif Hasan says his company is also working with NB Power to help reduce consumption during peak demand periods in the early mornings and evenings.
Hasan explains that since it cost NB Power more to produce power during those peak periods, the personalized information could allow the utility, for example, to offer incentives to consumers to do their laundry at a different time.
"We are creating that channel between the utility and consumer directly, to understand better power consumption. So that's why we believe that our solution is really unique in nature because we are working directly with both the generation side, and the consumer side," Hasan said.
Hasan and Gagnon say their invention has changed the way they consume energy in their own homes.
The company is in consultations with NB Power and hopes to have its product available to consumers by next winter.
SimpTek Technologies is one of the finalists in the New Brunswick Innovation Foundation's Breakthru competition.
The winner will be announced Thursday, March 19.
