We are revamping energy consumption in buildings by empowering homes and businesses to lower electricity expenses by over 20% through cutting edge AI solutions. This will reduce carbon emissions, and ultimately contributing to the collective effort to combat climate change.
"Energy expenses constitute a significant financial burden for both homeowners and businesses, often accounting for over 20% of monthly household expenditures. Some enterprises anticipate allocating up to 30% of their revenue towards this expenditure. Regrettably, escalating electricity tariffs are projected to persist, a trend exacerbated by the professional services firm's predictive algorithm, which foresees a further surge in global energy costs. This trend is particularly evident in Nigeria, following a notable inflation rate increase of 22.04% in March 2023.
Presently, the prevailing tariff for household electricity stands at 52 NGN ($0.5) per kilowatt hour, while industrial electrical energy is priced at approximately 70 NGN ($0.7) per kilowatt hour. These figures represent a substantial 56.4% and 34.6% increase, respectively.
Effective energy consumption monitoring is an indispensable tool for residential and commercial spaces, constituting a pivotal metric in the endeavor to curtail electricity expenses. Regrettably, traditional non-smart circuit breakers in our distribution boards, which have remained largely unchanged since the era of Thomas Edison over a century ago, lack the capacity to provide real-time electricity consumption data. They are confined to basic on/off functionalities, posing a significant hindrance to energy cost savings.
Our PowerSmart Distribution Board, coupled with a mobile app and an advanced power management solution, leverages cutting-edge AI technology and a predictive algorithm to intelligently monitor, collect, visualize, and manage power consumption. This empowers homes and businesses to achieve savings exceeding 20% in energy costs.
Upon deployment, property owners or managers can remotely access comprehensive energy statistics and discern consumption patterns in various settings, including residences, offices, sales outlets, base stations, financial institutions, retail establishments, educational institutions, and residential estates. Our solution confers the ability to schedule the activation or deactivation of appliances such as televisions, air conditioners, freezers, refrigerators, washing machines, and water pumps.
We firmly believe that our innovative solution will equip homes and businesses with the means to economize on energy-intensive appliances, and discontinue unnecessary power consumption, thereby reducing carbon emissions, and ultimately contributing to the collective effort to combat climate change."
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