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Keith Marett

Neurio has Joined the Generac Family

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From our start as a university project, Neurio’s mission has been to achieve carbon reduction through the intelligent use of home energy. Now in more than 200,000 home installations, our solutions have helped a significant segment of homeowners better manage their energy costs and reduce energy uncertainty.

Today, I’m thrilled to announce that Neurio has joined the Generac family of companies, a global leader in design and manufacture of residential, commercial and industrial power products. Generac’s power products are available globally through a broad network of independent dealers, distributors, retailers, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.

We hope you share in our excitement. Neurio remains unwavering in our commitment to our global community of customers, partners and homeowners.

What will happen to Neurio?
As a company and a brand, Neurio will continue to operate independently and support our customers and solutions. In fact, our team plans to double down on our focus on product enhancements and innovation. Generac’s resources, support and capabilities will only help to propel our vision and enable us to build upon and expand solution offerings.

How does this impact Neurio Home and my energy data?
Our existing solutions—including W1 meters and Neurio Home mobile and web apps— will continue without disruption. Do watch for updates in the coming months as we roll out new tools and enhancements.

Who can I speak with if I have questions?
Our stellar Customer Support team is on hand to address any questions or comments that you may have. Go to support.neur.io to reach out.

I look forward to sharing further updates as things unfold. In the meantime, stay on top of the latest by following @neuriohome or learn more by going to generac.com.

READ PRESS RELEASE: Generac Announces Acquisition of Neurio Technology Inc.

NEURIO NAMED ONE OF THE FASTEST GROWING TECHNOLOGY COMPANIES IN CANADA

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Vancouver, November 9, 2017 — Neurio was recognized for rapid revenue growth, bold innovation and its entrepreneurial spirit with a Deloitte Technology Fast 50 program award. The Fast 50 program honours 50 Canadian technology companies with the highest revenue-growth percentage over the past four years. Neurio ranked 31st with 781.3 percent in revenue growth from 2013 to 2016.

The Deloitte Technology Fast 50 program winners are made up of public and private companies in the technology sector that share common traits and strengths and have transformed the industry. Celebrating its 20th anniversary this year, the program augments the broader Deloitte North American Technology Fast 500™ initiative with winners automatically eligible for this elite ranking.

Neurio’s CEO Janice Cheam, credits Neurio’s innovative energy monitoring hardware and analytics approach, along with the rapid adoption of renewables and the global need to reduce CO2 emissions, with the company’s 781.3 percent revenue growth. Cheam said, “We are honoured to be once again named to Deloitte’s Technology Fast 50,” said Cheam. “Now more than ever Cleantech companies, like Neurio, are vital in helping to fight climate change. We are thrilled to demonstrate that sustainability focused technology and high growth successful companies can go hand in hand.”

“New technologies have disrupted various industries in ways that were unimaginable a few years ago,” said Erica Pretorius, Partner and National Leader for the Technology Fast 50™ program at Deloitte Canada. “Fast 50 winners have led the way and I can’t wait to see where they take us next.”

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.

About Neurio Technology Inc – Neurio is a leading residential energy management company that helps homeowners reduce energy costs through smarter energy decisions. From industry leading energy monitoring and control technology to sophisticated analytics that provide granular energy information, we are changing how energy is used and managed in a home. With over 140,000 homes using Neurio, homeowners and businesses are quickly realizing the power of what Neurio can offer. Learn more at www.neur.io

About the Deloitte Technology Fast 50™ – The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies with the potential to be a future Deloitte Technology Fast 50 candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry.) Program sponsors include Deloitte, Aequitas NEO Exchange, Bank of Montreal, Bennett Jones, CBRE, OMERS Ventures and Wellington Financial. For further information, visit www.fast50.ca.

NEURIO NAMED ONE OF THE FAST GROWING TECHNOLOGY COMPANIES IN CANADA

By | Press | No Comments

Vancouver, November 9, 2017 — Neurio was recognized for rapid revenue growth, bold innovation and its entrepreneurial spirit with a Deloitte Technology Fast 50 program award. The Fast 50 program honours 50 Canadian technology companies with the highest revenue-growth percentage over the past four years. Neurio ranked 31st with 781.3 percent in revenue growth from 2013 to 2016.

The Deloitte Technology Fast 50 program winners are made up of public and private companies in the technology sector that share common traits and strengths and have transformed the industry. Celebrating its 20th anniversary this year, the program augments the broader Deloitte North American Technology Fast 500™ initiative with winners automatically eligible for this elite ranking.

Neurio’s CEO Janice Cheam, credits Neurio’s innovative energy monitoring hardware and analytics approach, along with the rapid adoption of renewables and the global need to reduce CO2 emissions, with the company’s 781.3 percent revenue growth. Cheam said, “We are honoured to be once again named to Deloitte’s Technology Fast 50,” said Cheam. “Now more than ever Cleantech companies, like Neurio, are vital in helping to fight climate change. We are thrilled to demonstrate that sustainability focused technology and high growth successful companies can go hand in hand.”

“New technologies have disrupted various industries in ways that were unimaginable a few years ago,” said Erica Pretorius, Partner and National Leader for the Technology Fast 50™ program at Deloitte Canada. “Fast 50 winners have led the way and I can’t wait to see where they take us next.”

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.

About Neurio Technology Inc – Neurio is a leading residential energy management company that helps homeowners reduce energy costs through smarter energy decisions. From industry leading energy monitoring and control technology to sophisticated analytics that provide granular energy information, we are changing how energy is used and managed in a home. With over 140,000 homes using Neurio, homeowners and businesses are quickly realizing the power of what Neurio can offer. Learn more at www.neur.io

About the Deloitte Technology Fast 50™ – The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies with the potential to be a future Deloitte Technology Fast 50 candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry.) Program sponsors include Deloitte, Aequitas NEO Exchange, Bank of Montreal, Bennett Jones, CBRE, OMERS Ventures and Wellington Financial. For further information, visit www.fast50.ca.

NEURIO UNVEILS NEW SMART ENERGY STORAGE HARDWARE AND SOFTWARE PRODUCTS

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Neurio’s new Home Energy Controller and Storage Optimization Analytics helps solar installers maximize their customers’ solar investments and reduce payback period on batteries by up to 30%

June 27, 2017, Vancouver, Canada—Neurio, a leader in residential energy management, announced the addition of two new products to its Home Energy Management platform: Neurio Home Energy Controller and Neurio Storage Optimization Analytics. With Neurio’s new Home Energy Controller (HEC) and Storage Optimization Analytics, solar installers now have the tools they need to help homeowners to intelligently manage and control their solar inverters and batteries to avoid grid power during peak hours and curb demand charges, resulting in significant savings on the homeowner’s electricity bill each month.

“An increase in power outages, unpredictable weather and peak energy use charges have resulted in a marked uptick in solar power plus energy storage sales for solar installers,” said Chris Hennig, Technical Product Manager at Neurio. “However, with storage solutions still out of the price range of most homeowners, installers are continually looking for ways to help their customers maximize their solar investments and gain additional savings. With our new storage controller and analytics, installers can help reduce homeowner’s electricity bills by up to 60% each month by determining the most effective charge and discharge cycles. This results in significant annual savings for homeowners and makes storage extremely affordable for anyone on Time-of-Use or with Demand Charges. ”

Developed for solar installers, Neurio’s Storage Optimization Analytics uses predictive energy forecasting to determine the most effective charge and discharge cycles for residential batteries–ensuring the homeowner maximizes their savings each day. The forecasting leverages data from Neurio’s Appliance Monitoring Analytics and real-time usage and generation data, along with weather and utility information, to build daily load forecast models for a home, which are used to predict the consumption that will occur during the peak pricing period. These models are updated in real-time and then used to decide whether to charge the battery from the grid during the super off-peak period in regions with TOU pricing or Demand Charges.

Neurio Storage Optimization Analytics delivers the following features and benefits:

  • Advanced Time-of-Use (TOU) arbitrage: Neurio considers all aspects of a TOU bill when managing the battery, including Zero Export restrictions, Non-Bypassable Charges (NBCs), feed-in-tariffs (FITs), and minimum daily charges.
  • Minimize peak Demand Charges: Neurio forecasts peak demand and ensures the battery is sufficiently charged to handle it. Neurio then sets the discharge rate to ensure the battery lasts for the full duration of the peak event, with adjustments based on real-time load disaggregation.

 

Neurio Home Energy Controller: helping solar installers intelligently communicate with and manage solar and storage systems in a home

The Neurio Home Energy Controller (HEC) acts as the central hub for the monitoring and control of the home’s energy, linking solar and storage devices, as well as the Neurio Energy Monitor, through one system. The HEC connects to the inverters and storage devices of leading manufacturers, allowing for real-time monitoring and control. Easily installed inside a home or outside next to the inverter and panel, the HEC takes seconds to install and allows for plug and play connection to devices.

Neurio Storage Optimization Analytics and Home Energy Controller will be available in late 2017.

About Neurio

Neurio is a leading residential energy management company that helps homeowners reduce energy costs through smarter energy decisions. From industry leading energy monitoring and control technology to sophisticated analytics that provide granular energy information, we are changing how energy is used and managed in a home. With over 120,000 homes using Neurio, homeowners and businesses are quickly realizing the power of what Neurio can offer.

MEET THE LATEST ADDITION TO OUR DATA SCIENCE TEAM: LARA THOMPSON

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We’d like to introduce you to the newest team member to join our data science team: Lara Thompson.

Lara, please tell us a little about yourself:

“Today, I was lured away from academia to join the data science team at Neurio. I’m excited to see how Neurio is empowering people with data about their homes. As a scientist, I’m eager to study the patterns and signals in that data to make it even more meaningful.

Prior to now, I was working in neuroscience where I studied the signals in the small, developing brains of tadpoles. From the myriad synapses in a neuron, we studied how these basic units of computation enable the brain to communicate and develop.

My PhD is in theoretical condensed matter physics from UBC: in it, I derived the fundamental equations that govern the motion of a quantum vortex (ending a thirty year debate!). As a postdoc at MIT, I studied the strange properties of a possible exotic new phase of matter, the quantum spin liquid.

Yet, as much as I enjoyed Boston, I truly missed the West coast. As a trad climber, Squamish rock called; as a backcountry skier and mountaineer, the Coast Mountains waited for me to return. Vancouver is a beautiful city in its own right but as a base to the outdoors, it’s ideal.”

Brain signals in tadpoles – crazy! Makes disaggregation look easy. Welcome to the team Lara.

6 WAYS TO REDUCE ENERGY CONSUMPTION AND MAINTAIN YOUR COOL THIS SUMMER

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Summertime and the living is easy. Here are some ways to make it cheaper too, by saving on energy costs.

Turn it Up
In summer, turn up your thermostat. Set it to 78 degrees when you are home and 85 degrees when you are out. The air conditioner will kick in a bit later and that will save on energy costs related to cooling. The rule of thumb is that you can save about 2-3% on your cooling bill for every degree warmer you set your thermostat to. And if you have a home energy monitoring system, or even just a programmable thermostat, you can adjust the temperature to cool just before you arrive home. Just in time cooling!

Become a Fan
A ceiling fan doesn’t use any more energy than a light bulb, and a breeze makes you feel three to four degrees cooler. If you want to go big, you can install a “whole house” fan. Mounted in your attic, a whole house fan draws cool air in through windows and forces hot air out through your roof vents. Turn it on after the sun has set and in the early morning when the outside temperature drops below 80 degrees. Because fans use so little energy, this is a much better way to cool than using the air conditioner.

Keep your Ducts in order
If you have to run an air conditioner, make sure you change the filter on a regular basis and check the ducts for leaks. Leaking ducts account for 20 to 40% of cooling costs in an average home, so inspect your ducts at the beginning of summer and repair any leaks.

Let it all Hang Out
Consider reducing activities that increase the temperature inside your house. There’s no real need to use the dry cycle on your dishwasher. Just open the door a crack and let your dishes air dry. Similarly, certain clothes can really benefit from air-drying rather than tumbling around in a punishing dryer. Set up an interior drying rack or an outdoor line for clothing and bedding. An added bonus? clothes last longer without drying.


Made in the Shade

A cheap way to beautify your property and reduce summer’s heat is to plant trees, vines and shrubs strategically so that they protect your house during the hottest hours of the day (between 3:00 p.m. and 6:00 p.m.). In North America, the warmest sun comes from the south and the west, so plant more on those sides of your house, or on your apartment balcony. If you live in an arid location, and can’t maintain a forest, install awnings, shades, shutters or solar window films. These cost more, but are an effective way to reduce your reliance on air conditioning. In addition to the energy management benefits, sun blocking techniques can protect floors, furniture and art from damaging UV radiation.

Micro is better
Most people don’t realize it but, when it comes to cooking, nothing is more energy efficient than a microwave which uses 66% less energy than your stove. The other great thing about microwave cooking is that it contributes less overall heat to your living space. During summer, that’s a bonus.

Not into the microwave? Think outdoor cooking–which also goes a long way in reducing the heat you release into your kitchen.

There are tons of small ways you can reduce summer energy consumption. Run through a sprinkler. Go barefoot. But these six are the big ones to pay attention to in order to keep your cool during the hot summer months.

MIND THE GAP: REDUCE CUSTOMER ATTRITION BETWEEN CONTRACT AND INSTALL

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When a customer signs up for a solar energy system, it can take up to three to six months before their panels are actually installed and working. And it’s during this lag that all of your hard selling work has a real potential to go down the drain as upwards of 35-50% of customers have been found to cancel orders during this crucial time. This significant rate of attrition bumps up the overall cost of customer acquisition tremendously.

While there are varying reasons for this gap, most of the problem lies in the lengthy local government permitting and regulatory processes. Since permitting and local regulation are well outside the control of solar installers, you need to come up with ways to keep customers happy and engaged during the lag.

Forestall Buyer’s Remorse with an Energy Monitor
So how do you keep your customers from getting a case of buyer’s remorse? Tap into their money-saving mindset before their system is up and running. It’s no secret that the #1 reason consumers want to install solar is to save money. So what better way to engage your customer between sell and install than to give them a way to monitor their current energy usage?

And that’s where smart energy monitoring technology comes in. A smart energy monitoring system takes only a few minutes to install, so is not a huge cost outlay for a solar panel company. And it represents a stake in the ground, reducing people’s inclination to opt out while they have time to experience buyer’s remorse. Quite the reverse actually, giving customers a home energy monitor could get them fired up about energy savings before their solar system is up and running—and give them a way to measure that savings when they ultimately do get their system installed. These customers may even become ambassadors for your panels, referring them to friends in the future.

A small upfront investment can help forestall attrition. And that’s worth a whole lot down the road.

WANT TO INCREASE YOUR REFERRALS? TRY ENGAGING EXISTING CUSTOMERS

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According to GTM Research, the cost of customer acquisition for a typical solar residential system is roughly $3,000. With the bulk of this cost coming from sales and marketing, solar system installers need to reduce the cost of acquisition to deliver solar at an attractive price point. One of the most effective but least used tactics: customer referrals.

The simple truth is that people trust their friends and family. That trust extends to their opinions about who to vote for, where to dine, and what to buy. So it makes sense that solar installers should look at existing customers as ambassadors. Referrals also lower the total cost of customer acquisition and, in tight margin businesses, this is a crucial approach.

Just how important are customers referrals? Very, according to research from the Nielsen rating company:

92% of consumers trust referrals from people they know.
People are 4 times more likely to buy when referred by a friend.

4 Ways to Improve Customer Engagement
Given the importance of customer references, how do you go about getting them? As many businesses have found out, getting a new customer can be a challenge, but keeping them and fostering a long term ambassador is even more difficult. Why? Often manufacturers and installers are so focused on new sales, product and installation, they forget about customers once the product has been installed. To change this, you need to start engaging customers not only during the sale and install process, but after as well. That’s because, as important as a flawless install and sale is, when it comes to creating an ambassador, it is equally important to keep in touch with your customers to find out what they think of a product, how it may be improved, and to resolve customer complaints quickly. Here are the top 4 ways to improve customer engagement and create a legion of ambassadors

1. Ask for Feedback
The number one way to increase customer engagement is to actively seek your customers’ feedback. Encourage them to rate products and services. Most purchasers during the product investigation stage will read the reviews or ratings provided by others and then decide whether to buy the product or not. If people provide negative feedback, respond immediately. By offering solutions, you can convert a poor rating into a good opportunity to reinforce brand trust.

2. Engage via Social Media
Social media connects people with friends, family and the brands they use or want. When customers are happy, they naturally promote products and services through word of mouth and on social media. Give them an option to recommend products and services to their online friends once they have had a chance to assess the benefits of solar. But make sure to pay close attention to any social media efforts. Disappointed customers can damage a brand unless concerns are quickly resolved.

3. Offer Rewards
Many solar companies are offering direct dollar incentives to customers to refer a friend. If a referral turns into a sale, the referee can make up to $1,000 per successful installation.

4. Stay in Touch
Don’t just install and run. Stay in touch with customers. Keep them in the loop regarding product maintenance and performance. For example, if your company has the means to collect information about their specific product performance, let customers know when they need to wash their panels, and send them instructions on how to clean them. People want to know that a company cares about them and they will appreciate the extra effort that takes.

Sounds Easy, But…
Building customer engagement is not always as easy as it sounds.

In general, products that don’t give people a chance to interact with them are less likely to generate the kind of loyalty required in order to ask them for referrals. Products like consumer electronics, entertainment and packaged goods generate high customer engagement simply because people ‘use’ them more often, and they offer ample opportunities to post on social media sites like Facebook, Twitter and Instagram.

Low engagement products, which people purchase annually like insurance or — even less frequently — home heating and cooling systems, are simply not set up to encourage customer engagement and few even consider promotions to friend networks through social media.

That can change though.

Photovoltaic panels by themselves are a relatively “low” engagement product. However, people buying solar panels are keen to understand the benefit of their investment. If owners had a way to monitor how much energy they are generating and consuming, as well as how much they are saving from their solar investment, they are suddenly much more engaged. Providing customers with a real-time view of energy use–right on their mobile phone–can lead to higher engagement rates, more product reviews and increased referrals. Our statistics at Neurio prove this out. People open the Neurio Home Energy Monitor phone app more than four times a day or 30 times a week. That’s huge engagement. And it means increased potential for referrals from your growing pool of connected solar ambassadors.

GETTING SWEPT UP IN THE PERFECT SOLAR STORM

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Solar energy is becoming a major force in America—where a change in consumer attitudes, lower costs of photovoltaic cells, and state and federal incentives have all come together to move the needle.

The numbers tell the story: In California, the state is expecting to obtain 50% of its energy from renewable sources by 2030. And, according to the Solar Energy Industry Association, solar energy nationwide in the US is growing exponentially with over 1 million installations today.

A big factor in the rise of solar: people are finally seeing the real economic benefits of switching to solar power. The average home can save over $1,000 per year on energy costs according to One Block off the Grid.

As more people invest in solar, there is increasing demand for tools and technologies to help measure both energy and dollar savings. To this end, we’re pleased to announce that we are working ever more closely with solar energy equipment manufacturers, solution providers, and installers to bring intelligent energy monitoring to the booming solar energy market. We’re already working with dozens of solar installers and have installed Neurio in tens of thousands of homes. Our goal is to help solar energy companies increase customer satisfaction and referral business as consumers see how their investment in solar is paying off and reducing their energy usage at the same time.

Celebrating One Hundred Thousand
At the same time, we are celebrating the sale of more than 100,000 Neurio energy monitoring units in just over a year.

While solar is undergoing rapid adoption, one thing is for sure: smart energy monitoring systems go hand in hand with this form of renewable.

People investing directly, or leasing solar installations really want to track how much energy their panels are making, how much money they are saving by using solar, and how much more money they can save by identifying and eliminating phantom energy users and the real energy hogs.

People adopting solar take a more proactive stand toward their energy consumption, whether due to the financial stakes or to an interest in fighting climate change – or both. In either case, they are no longer satisfied just receiving and paying a monthly bill from a big brother utility. Intelligent home energy monitors let solar panel customers understand and shape their energy footprint. Depending on the season, that’s pretty hot.

THE AVERAGE HOME WASTES 20-30% OF THEIR ENERGY USAGE

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The average US home uses over 11,000 Kilowatthours a year of electricity, which costs homeowners on average over $1,300 per year. That’s ton of money. Imagine if you could reduce your usage by just 20-30% (which is the average energy wastage in a typical home) – that’s over $250 every year back in your pocket! We challenge you to explore your home and find those hidden energy hogging culprits. It’s time to start padding your pockets, instead of letting it flow out your meter.