State of Energy Data
Last updated
Last updated
Our energy data infrastructure was built for a pre-internet society. Data pulls are still often done manually. Data is not streamed in real-time; meter data is available at the earliest the next day, often not until the end of the month. The consumption data is lumped into 15-minute intervals, with no insights into patterns and resource consumption.
Consumption data is bespoke to each utility. There are ~2,900 electric utilities in the United States alone, with very little data standardization between them. Customers do not own this data; the utility does. As the utility has a monopoly on data, it often sells for very high prices which reduces the ability to drive better energy experiences for the customer.
Additionally, DER data is largely verticalized. Typically, the OEM is the only default organization with access to the DER data. DERs will continue to proliferate in our homes and businesses: rooftop solar, energy storage, EV chargers, and electrified appliances. This data is siloed, limiting the ability to drive incremental value to consumers and improve the operation of the system.
The value of energy data is enormous. Arcadia, the largest utility data platform, recently raised a Series E at a $1.5 billion valuation. Arcadia is solving a critical problem by standardizing utility and energy data and making it available via a unified API. However, Arcadia is still dependent on existing utility data. We need to build new sources of data to scale dynamic participation across a decentralized energy system.
The modernization of the energy grid is dependent on this digital infrastructure. This is why energy monitors are the foundation of the React Network. They unlock dense, real-time data coverage across the grid edge. Even residences that cannot deploy large distributed energy resources- for example, leased apartment units- can participate in building out the React data and connectivity platform.
