Dive Summary:
- Tony Fadell and Matt Rogers made their names at Apple before they left and founded Nest Labs and create smart thermostats.
- Nest claims that its devices can save $173 per year in electricity and heating costs for homes switching over from traditional thermostats, which in theory can lead to one of its smart thermostats paying for itself in less than two years.
- The company is currently working on other products, and Rogers confirmed that employees are working on more than one product, though he did not get into specifics speaking to MIT Technology Review.
From the article:
"... Nest is being watched by green-tech researchers and investors who believe it may lead a new wave of technologies that can significantly reduce power use in homes, which account for about 10 percent of U.S. energy consumption. The government allocates tens of millions of dollars per year for programs that reduce energy use in residential buildings. But many home improvements, such as insulation and storm windows, cost thousands of dollars per house and deliver energy savings comparable to what a better thermostat can generate for far less money, Whitehouse says. ..."
