Another development has emerged today as Google Nest Renew and OhmConnect have combined forces to create “Renew Home” with a significant $100 million investment from SIP. This marks a significant shift in the clean energy industry and signals a new era of collaboration in the smart home technology space.
Key Takeaway
Renew Home, formed through the merger of Google Nest Renew and OhmConnect, backed by a
00M investment from SIP, aims to optimize household energy consumption and interaction with the electrical grid, with a vision to expand into whole-home energy management and work in 10 million homes by 2030.
The Merger: Renew Home and SIP’s Investment
The merger of Google Nest Renew and OhmConnect under the banner of Renew Home is a strategic move to optimize household energy consumption and interaction with the electrical grid. This collaboration aims to reduce energy bills and alleviate pressure on the grid during peak stress moments and times when clean energy is less available. SIP’s substantial $100 million investment reinforces the potential of this new entity to revolutionize the energy management landscape.
Renew Home’s Vision and Expansion Plans
Renew Home’s vision extends beyond load shifting services, with plans to expand into new markets following its launch. The company aims to focus on whole-home energy management, including EV charging, solar systems, and more. With a target of accounting for 30GW of shiftable load and working in 10 million homes by 2030, Renew Home is poised to make a significant impact in the energy management sector.