ecobee Offers California Residents the Opportunity to Save on Rising Energy Costs
Customers who enroll in the Cali ecosave program can purchase an ecobee smart thermostat starting at $10 to support a more reliable electrical grid
TORONTO – July 19, 2023 – ecobee, a subsidiary of Generac Power Systems (NYSE: GNRC), today announced it is offering eligible customers in California’s hottest climate zones a $10 ecobee3 lite (regularly $149.99) or a $149.99 ecobee Smart Thermostat Premium (regularly $249.99) when they enroll in the company’s Cali ecosave program. Three thousand discounted thermostats are available, while supplies last.
Cali ecosave is a voluntary community energy savings program from ecobee that offers customers an incentive in return for helping to save energy during periods of high demand and helps support a more stable and reliable power grid in local communities.
“At ecobee, we are committed to offering innovative smart home solutions that address the current problems customers are facing, such as rising energy bills and increasing strain on the power grid caused by extreme heat,” said Chris Carradine, EVP of Energy at ecobee. “We’re eager to offer heavily discounted ecobee smart thermostats to eligible Californians to help them conserve energy and save money on their summer cooling bills without sacrificing comfort.”
Extreme weather can lead to grid instability and the risk of outages or brownouts in local communities, along with higher energy bills. According to the California Independent System Operator's outlook for summer 2023, the “grid remains vulnerable to high loads and availability of imports during widespread heat events, especially in late summer.” California residents currently spend about $220 per month on electricity, which adds up to $2,640 per year – 25% higher than the national average electric bill.
As part of California’s move towards cleaner energy, utilities in the state have transitioned customers to time of use rates, which make electricity prices more expensive during peak hours of the day, and lower at non-peak times. ecobee smart thermostats take into account energy prices, local weather, home energy performance, and custom comfort preferences to automatically cool homes when energy is less expensive and avoid cooling when energy is more expensive, all without impacting comfort. Customers who take advantage of this offer will be pre-enrolled in Cali ecosave helping them save money on their energy bills and also helping reduce stress on the power grid during peak times.
With energy saving features, ecobee smart thermostats can help customers save up to 26% on annual heating and cooling costs.1 According to a measurement and verification report by Demand Side Analytics, ecobee customers in California who used the Time of Use feature saved an incremental 7-19% on cooling costs on top of baseline ecobee device settings. So far this summer, over 25,000 ecobee customers in California have voluntarily participated in similar energy saving programs throughout the state, saving about 30 megawatts at peak times and helping communities keep the lights on. One megawatt is “roughly enough electricity for the instantaneous demand of 750 homes at once,” according to the California Independent System Operator, meaning 30 megawatts can provide enough electricity for the instantaneous demand of roughly 22,500 homes at once.
ecobee Inc. was founded in 2007 with a mission to improve everyday life while creating a more sustainable world. Today, ecobee continues to innovate with smart home solutions that solve everyday problems with comfort, security, and conservation in mind. Since launching the world’s first smart thermostat, ecobee has helped customers across North America save more than 27.8 TWh of energy, which is the equivalent of taking all the homes in Los Angeles and Chicago off the grid for a year. With ecobee’s products, including the award-winning Smart Thermostat Premium, ecobee continues to encourage Smart Owners to imagine what home could be. ecobee is a part of Generac Holdings Inc. (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions, and other power products. Generac and ecobee share a vision to deliver a cleaner and more sustainable energy future for customers and communities. The Generac and ecobee home of the future will be more comfortable, resilient, and efficient. For more information, visit ecobee.com.
1Compared to a hold of 72°F/22°C. By enabling eco+ smart features, an ecobee smart thermostat can help customers save up to 26% or $284 on their annual heating and cooling costs. Annual savings vary based on energy use.