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  • [ July 2, 2013 ]
  • Video: How economics can cut your energy costs

Opower, a software company in Arlington, Virginia and a leader in electricity consumer engagement, works to help encourage customers to change their energy-consumption behavior through social pressures and competition. They believe that as a “herd-mentality” society, knowing how much energy our neighbors are consuming will likely influence how we consume electricity. The video above shows how Opower might just work in cutting energy costs, helping individuals and companies to save around the country through behavioral science and economics.

Source: How economics can cut your energy costs, CNBC

Related:
America’s Energy Distribution: Where do you fit?, Iowa Energy Center
Smiley face grading for energy usage, Iowa Energy Center
Would social pressure influence your electricity usage?, Iowa Energy Center

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