Powerpal

Powerpal, founded in Melbourne, Australia, in 2017 by Pete Neal and Rick Grundy, provides home energy monitoring and efficiency solutions. The company was established to give households better insights into their energy consumption. In January 2022, Powerpal was acquired by Amber, a renewables-focused electricity retailer, for $9.5 million. This acquisition integrated Powerpal's real-time energy data capabilities with Amber's wholesale electricity pricing model.

The company's core offering is a patented device that attaches to a home's smart or digital electricity meter. This device optically reads the flashing LED light on the meter, which indicates energy consumption, and transmits this data via Bluetooth to a mobile application. The app provides real-time data on electricity usage, allowing homeowners to see how much energy individual appliances are consuming and what it costs. The transmitter is weatherproof, can store up to 60 days of data, and has a battery life rated for over ten years. Powerpal's platform is designed for residential clients who want to reduce their energy bills and carbon footprint.

Powerpal's business model is multifaceted. Initially, the company generated revenue by selling its monitoring device for $129 to customers outside of specific government programs. A significant part of its distribution has been through the Victorian Government's Energy Upgrades program, which provides the device and installation for free to eligible households, with Powerpal receiving a payment from electricity retailers for each installation. Following its acquisition, the company's services have expanded. Beyond energy monitoring, Powerpal now facilitates home energy upgrades, such as the installation of heat pumps, reverse cycle air-conditioners, and solar battery packages, by connecting customers with government rebates. It also offers access to wholesale energy plans through its parent company, Amber, for a monthly fee.

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