Nest Labs Acquires MyEnergy

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Nest Labs are one of the most exciting up-and-coming energy consumer product company around, and as of May 7 they have taken the next step in becoming a heavy-hitter, by acquiring online utility usage company MyEnergy.

The news was announced by both companies on their respective blogs on Sunday to much fond feelings between the two companies;

Today, Greg and I are thrilled to announce that MyEnergy has been acquired by Nest Labs. Bringing our teams together makes sense on so many levels and we’re excited to work with Nest to continue helping people understand and address home energy consumption.

‘Ben & Greg’ from MyEnergy

Today is a first. Three years ago we started Nest Labs with a vision of saving people energy, of changing the way people even think about their energy use. Today we’ve taken another big step in that direction with our very first acquisition.

Matt Rogers, Nest’s Founder and VP of Engineering

The rationale behind the purchase is simple, according to Nest. The minds behind MyEnergy have created exactly what Nest customers want; spreadsheets, charts, detailed comparisons, and energy savings translated into dollars saved. According to Nest, they “acquired MyEnergy to help us do both: the details and the dollars.”

MyEnergy lets you track your electric, gas and water use in one place. It automatically reads your energy bills so you can see how much you spend month over month, year over year, and compare that to neighbors and friends.

MyEnergy currently have access to data from over 1,500 energy providers and have users all across the United States.

Last month Nest launched Auto-Tune, their new technology which backs their newest programs; Rush Hour Rewards and Seasonal Savings. 

Rush Hour Rewards takes advantage of the numerous energy company incentives that exist that pay you to use less energy when everyone else is needing more of it, and could end up earning you $20 to $60 this summer.

Seasonal Savings, however, helps you save money by taking everything your Nest thermostat has learned about your house and fine-tuning the schedule to save energy, “without sacrificing comfort.”

With MyEnergy on board, Nest will have an even better chance of helping you save money and energy by watching your energy usage. The two companies are already working together to integrate their technologies, and Nest users are likely to see more in-depth access and analysis as the integration deepens.

nest_myenergy


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Joshua S Hill

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

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