Innovative energy management technology for smart energy decisions

Project Information

INNOEM

Grant agreement ID: 673998

DOI

10.3030/673998

Project closed

EC signature date 16 April 2015

Start date 1 May 2015

End date 31 October 2015

Funded under

• SOCIETAL CHALLENGES - Secure, clean and efficient energy

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

WATTY AB
Sweden

Periodic Reporting for period 1 - INNOEM (Innovative energy management technology for smart energy decisions)

Reporting period: 2015-05-01 to 2015-10-31

Summary of the context and overall objectives of the project

The key challenge for energy efficiency in Europe is to enable individuals to make smart energy decisions in their homes based on tools and methods that are easy to deploy and operate. Indeed, the analyses show that the largest cost-effective energy savings potential lies in the residential (households) and commercial (tertiary) buildings sectors, with savings potentials of 27 % and 30 % respectively. However, this potential for savings largely remains untapped as energy users do not have the information needed to make informed decisions about their energy investments. Watty has developed an innovative solution that will give households an easily accessible and at the same time detailed picture of their energy use per appliance, and therefore enable them to take control of their overall energy consumption.

The objective of the present project was to assess the commercial feasibility of a market introduction of the innovation in Europe and to draw up a first business plan and strategy for its commercialisation, taking into account the needs and expectations of the users.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The project activities focused on a strategic business review including an investigation of the user groups and their needs; an overall analysis of the market trends and conditions; an assessment of the competitive landscape and an analysis of the economics of the business. A thorough mapping of the needs of users has been conducted and the value propositions towards end-users and customers in the utility sector have been defined. A benchmarking study against competitors was undertaken with positive results that highlight our competitive advantage. The business model has been outlined and a first strategy to reach the targeted users was drawn up.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The study provided a positive confirmation of the technical and commercial feasibility of the business innovation project. The project also paved the way for the next step in the further development and commercialisation of the innovation, which will consist of a larger demonstration project in three national markets across Europe. The expected outcome of the innovation business project is to develop an innovative energy management system that enables households to transform the energy saving potential into concrete action in their homes and thereby contributes to reduced energy consumption and lower carbon footprint of the European households

Watty´s app