Bidgely Increases Nearly 90% Sales Growth Year-Over-Year in 2022
Company’s climate tech solutions empowering smart energy decisions for energy providers and consumers on both sides of smart meters
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Bidgely’s artificial intelligence (AI)-powered energy solutions accelerated the clean energy future in 2022, achieving nearly 90 percent year-over-year sales growth. Aligning with net-zero commitments of global energy providers and regulators, Bidgely continued to unlock the power of meter data in 2022 to generate personalized metrics for every energy customer while helping utilities capitalize on new value opportunities and better manage the grid. Bidgely’s granular insights into consumer data successfully drove greater efficiency, sustainability and business growth across an expanding customer base of more than 50 utilities and energy retailers worldwide.
Avangrid’s United Illuminating, San Diego Gas & Electric, Entergy, Oklahoma Gas and Electric, Georgia Power Company (Southern Company), Tucson Electric Power, New Hampshire Electric Cooperative, ZSE Energia, REC Ltd and BSES Rajdhani Power Limited (BRPL) were among those newly leveraging Bidgely’s insights, while software integrations with National Information Solutions Cooperative brought data-driven insights to utilities in rural U.S. communities for the first time this year.
“Bidgely’s focus on climate tech solutions that empower smarter energy decisions lends to our keen ability to anticipate market trends, then implement the right solutions at the right time,” said Abhay Gupta, CEO of Bidgely. “We are generating meaningful momentum against the daunting challenges utilities – and all of society – face in regards to sustainability with future-ready solutions that are contributing to cleaner energy today.”
Industry Accolades and Leadership
Through AI that extracts insights on personal energy usage from customer data, Bidgely provides utilities with the intelligence and tools to improve both sides of the meter – customer and the grid. Bidgely’s Home Energy Reports, for example, achieved an industry-leading 85 percent customer satisfaction, according to a Cadmus EM&V report. Bidgely’s collaboration with Rocky Mountain Power received the SECC 2022 Best Practices Award, noting exceptional excellence in serving small-to-medium businesses with appliance-level consumption data. Bidgely was also named a finalist in the S&P Platts Global Energy Awards ‘Grid Edge’ category for the second consecutive year.
As a climate tech pioneer, Bidgely CEO Abhay Gupta addressed the critical need to equip utilities with resources for achieving ambitious carbon reduction goals at this year’s Global Clean Energy Action Forum. Gupta’s on-stage discussions at EEI 2022 and DistribuTECH 2022 also focused on delivering customer-centric, climate forward approaches to energy management that turn challenges like electrification into growth opportunities.
Bidgely also continued to be recognized by Guidehouse and IDC MarketScape in 2022 as last year’s leaders in Home Energy Management and Customer Experience, respectively, noted as the industry-leading vendor for both sides of the meter through customer analytics and grid analytics.
Global Energy Markets Expansion
In addition to partnering with new U.S. utilities, Bidgely worked to relieve underserved energy constraints within international markets. In India, Bidgely launched its Energy Theft Solution and was selected for the Ministry of Power’s Powerthon 2022 to demonstrate how AI-enabled data analytics can detect and resolve India’s energy misuse issues. Bidgely further established partnerships with the country’s leading energy providers, including BRPL, to support theft reduction, load forecasting, electric (EV) detection, energy efficiency and more.
Bidgely received The Economic Times’ 2022-2023 Future Ready Organization Award for its India workforce’s dedication to quality and innovation.
Electrification and Decarbonization Innovation
Bringing together a holistic view of consumption, growth and total load impact, Bidgely’s actionable intelligence educates, motivates and incentivizes the replacement of inefficient, fossil fuel-powered energy with smarter, cleaner electrification.
Advancements in the company’s next-generation disaggregation technology and deployment of its Electric Vehicle Solution by utilities like Duke Energy, PSEG Long Island, and United Illuminating in 2022 led to an unprecedented 71 percent shift in EV loads to off-peak periods – relieving grid congestion and lowering electricity expenses for drivers. Bidgely also played a key role in establishing the first EV managed charging program in Connecticut this year.
To learn more about the use of Bidgley analytics to prioritize digital engagement for improving customer experience and optimizing utility operations, download Bidgely’s Playbook for Building a Customer Experience 2.0 Platform.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely’s UtilityAI™ Platform transforms multiple dimensions of customer data – such as energy consumption, demographic, and interactions – into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, Bidgely is advancing smart meter innovation with data-driven solutions for solar PVs, EV detection, EV behavioral load shifting and managed charging, energy theft, short-term load forecasting, grid analytics, and TOU rate designs. Bidgely’s UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Contacts
Christine Bennett
Bidgely
