Dive Brief:
- The Salt River Project has initiated a two-year pilot study to determine whether customers on a specific time-of-use program can save even more energy each month with a smart thermostat.
- Customers using the EZ-3 rate plan already save an average of 6% every month, but SRP expects additional savings with the installation of smart thermostats.
- The study will continue for two full summers to understand how the thermostats will work during the hottest months of the year, the utility said. SRP is working with EnergyHub to install the smart thermostats and conduct the studies.
Dive Insight:
Salt River Project said customers are already saving with the EZ3 rate plan, but the utility wants to know if it can squeeze out additional value by providing customers by pairing a smart thermostat with the variable rate. The pilot will compare energy use with the new smart thermostats verses average use during a three-hour peak period Monday through Friday.
"The purpose of the study is to determine the savings that customers might realize with these smart thermostats while on a time-of-use program such as EZ3," said Lori Singleton, director of emerging customer programs. "Additionally the goal is to find ways to help reduce SRP's electric load during peak hours."
SRP is working with EnergyHub, a leading energy management and demand response software provider, to install the smart thermostats and conduct the studies. The study is part of a larger research project with Electric Power Research Institute and 10 utilities. If effective, SRP will consider offering rebates for the devices.
"With interest in time-of-use rates growing, the ability of EnergyHub's platform to optimize thermostat performance and save money for customers is more important than ever," said Mike Bates, general manager of utilities for EnergyHub.
