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Up until now consumers have been in the
dark about their energy consumption |
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and even energy providers
have really been in the dark |
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about how their consumers
consume their product. |
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What Tendril’s software platform
allows both consumers of energy |
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and suppliers of energy to do
is gain unprecedented insight |
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and control into the supply
and consumption of energy. |
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And it’s to supplier’s benefit
by being able to better match supply |
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and demand leading
to more efficiency in the grid. |
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And consumers benefit
by getting real time insight |
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and control allows them
to spend less on their energy |
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and emit less CO2 in the environment. |
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Our studies show that when consumers
are given real time access to information |
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about their energy consumption
they can reduce that consumption |
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by 10% to 15% which can be
really meaningful |
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in the overall scope
of energy management. |
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So starting a technology company
is never easy. |
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You really need three core ingredients
to get a company off the ground. |
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You need a highly educated workforce,
you need a marketplace to sell your product, |
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and you need access to venture capital
to help launch the product. |
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The great thing about the US
is it has a great education system |
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which means there's an abundance of highly
trained and highly skilled workers. |
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It’s a significantly sized market
that allows us to sell our products locally |
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to start with and then, importantly,
has a very mature venture capital industry |
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which allows us
to gain the seed capital |
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we need in order to get
the company off the ground. |
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That said, while the US
is a great place to start a company, |
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the Smart Grid in the energy revolution
that it encapsulates is a global problem |
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and so we’ve moved quickly as a company
to start exporting our technology products |
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and services to other markets,
including Europe and South America. |
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The kind of change that the energy industry
is going through is every bit as big |
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as what we’ve seen from the telecoms
industry in the last 20 years. |
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And if you look at lessons that we can
learn from the telecoms industry |
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and apply them to the energy industry,
we can see that the number one lesson |
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is we should be humble
about our ability to predict |
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what the killer application
is going to be here. |
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Even Google didn’t really predict Google
and so we shouldn’t imagine |
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that we’re going to be able
to predict all of the applications |
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in the energy industry. |
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We’ve been very active
with the National Institute of Standards |
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and Technology,
deriving the process of standards. |
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We believe it’s not sufficient
just to follow the standards process |
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but it’s important to drive
and define these standards |
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that are going to define the Smart Grid. |
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So I’ve testified to the US Senate related
to standards in the Smart Grid |
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to consumer choice in the Smart Grid
and the creation of a marketplace |
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by driving open standards
into the Smart Grid, |
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all of which we think are important
to make the Smart Grid a success. |
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The commitment to open standards
in the Smart Grid marketplace |
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not only drives our innovation but allows
all sorts of other customers |
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to enter this marketplace and deliver
products and services of their own. |
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The energy revolution is going to be every
bit as big as the telecom revolution. |
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And if we look
at the telecom revolution, |
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it’s driven huge change in society,
mostly for benefit. |
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It’s freed up the flow of information,
it’s created jobs and wealth, |
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and driven a whole set of businesses
that were headed to unimagined. |
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We see the same thing
for the energy industry. |
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So it doesn’t matter what side
of the political spectrum you sit, |
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becoming more energy efficient
as a society is an important driver. |
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It drives jobs.
It drives better environmental policy. |
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It drives energy independence. |
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And those things together create means
for a better society.
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