GoodCents, an Atlanta-based provider of marketing and field services for electric utility energy efficiency and peak-load management programs, has been acquired by a fund managed by GFI Energy Ventures for an undisclosed amount.
Utility power management programs can help maintain grid stability and reduce the risk of power outages reports, according to Lux Research. The Department of Energy estimates such outages cost the U.S. about $80 billion a year.
GoodCents does not develop its own technology, but rather determines which energy-management technologies that can be connected to the electric grid would work best in any given residential area. The company then works with the respective local utility to design a program that can be implemented in local residences.
The utility foots the bill for the required technology, while GoodCents markets the benefits of implementing the program to homeowners, GFI Chairman Lawrence Gilson told us. He said that GoodCent’s most prominent competitor is Honeywell International (HON).