From the Experts
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[September 21, 2010]
ThinkEco Makes Commitment to Move Towards Next Generation of Energy Efficiency Through Research, Development, and Education
NEW YORK, Sept 21, 2010 /PRNewswire via COMTEX/ -- At the 2010 gathering of the Clinton Global Initiative, ThinkEco, Inc., a New York City-based company that develops easy-to-use energy efficiency technologies for homes and businesses, announced its Commitment to Action in combating plug-load waste through research, development, and education. Plug-loads, the power consumed by plugged-in devices, are the fastest growing segment of electricity consumption in the United States. They now represent 40 percent of residential and 26 percent of commercial energy use, up from the single digits in the early 1990s.
"Plug-loads are the next front in the battle towards sustainability," said Mei Shibata, co-founder and chief business officer of ThinkEco. "The proliferation of electronic devices in homes and offices is creating new sources of energy consumption every day. On a global scale, as the cost of electronics gets lower, and the developing world becomes wealthier, the demand of plug-loads on the world's energy resources will continue to balloon." While more efficient technologies can always be created, the most obvious source of waste is the billions of dollars worth of energy consumed by plugged-in equipment and appliances that aren't even being used. The Department of Energy estimates that in the United States alone, $10 billion is spent each year to power devices that are in standby mode.
A key enabler of the commitment is the forthcoming launch of ThinkEco's wirelessly-communicating electric wall outlet system, called the modlet - short for modern outlet - which will collect data and be a conduit for the company's educational efforts. The modlet is an intelligent outlet that combines hardware and software to monitor how much energy appliances in the office and home are using. Algorithms then recommend automatic power saving plans so that power can be cut off at the source when not needed. This feature alone can cut the energy used by some equipment by as much as 80 percent.
More importantly though, are the educational benefits that the modlet provides. For most people, the modlet will be the first time that they will be able to actually see how much energy is being used by the appliances in their homes and offices and think about what it means to fail to turn something off. In pilot tests run with the modlet, simply being able to see how much power is being used causes people to reduce their energy spending by 15 percent.
About the Clinton Global Initiative (CGI) Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,700 commitments valued at $57 billion, which have already improved the lives of 220 million people in more than 170 countries. The 2010 CGI Annual Meeting will take place from September 20-23, 2010, in New York City. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship, MyCommitment.org, an online portal where anybody can make a Commitment to Action, and CGI Lead, which engages a select group of young leaders from business, government, and civil society. For more information, visit www.clintonglobalinitiative.org.
About ThinkEco, Inc.
Founded in 2008, ThinkEco, Inc., is a New York City-based company developing easy-to-use energy efficiency solutions for homes and businesses. Its latest product, the modlet, is an intelligent outlet that provides a simple, low-cost and installation-free method for saving money and energy on electronic appliances. The modlet is expected to be for commercial clients by the fourth quarter of 2010. For more information, visit www.thinkecoinc.com. For the latest updates and news, follow the company on Twitter at @ThinkEco or become a Facebook fan at www.facebook.com/ThinkEco.
SOURCE ThinkEco, Inc.
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