| Type | Public (NASDAQ: ENOC) |
|---|---|
| Industry | products = Demand response, energy management systems |
| Founded | 2001 |
| Headquarters | Boston, Massachusetts, USA |
| Key people | Tim Healy, CEO, chairman, and co-founder David Brewster, President and co-founder |
| Revenue | $200 million USD (TTM 2010)[1] |
| Employees | 465 |
| Website | www.enernoc.com |
EnerNOC develops and provides energy management applications and services for commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. It chiefly provides demand response services that maintain real-time balance between electricity supply and demand. Its energy management services and software promote energy efficiency, reduce greenhouse gas emissions, and offer consulting services for energy supply management. It is the market leader in demand response.[2]
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As of March 31, 2011, EnerNOC had over 10,000 sites using its applications and services, including commercial buildings, supermarkets, industrial sites, and universities.[3] EnerNOC's applications and services include demand response (branded DemandSMART), energy efficiency (EfficiencySMART), energy supply management (SupplySMART), and greenhouse gas emissions management (CarbonSMART).
For its demand response service, EnerNOC connects each participating site to its network operations center, or NOC. If a utility company or grid operator has an sudden increase in demand, EnerNOC works with its customers to cut back energy use to restore balance to the system and avoid blackouts or brownouts. During a demand response dispatch, a participating site might switch over to a generator, reduce air conditioning or lighting usage, or cut power to appliances that are not being used. If a site reduces its energy usage during these dispatches, the utility company or grid operator will pay EnerNOC and the customer for this service. Customers are also paid for being on call to reduce demand, thereby providing capacity to the grid operator or utility. EnerNOC offers a web-based demand response application, DemandSMART, that enables them to track their energy reductions.[1]
EnerNOC offers other applications and services that help cut down on energy use. EfficiencySMART analyzes users' real-time power consumption to reveal opportunities to save energy, and it also offers traditional commissioning, retro-commissioning, and energy audit services. Another, SupplySMART, offers consulting and advising services to help companies buy energy efficiently and cut down on price risk. CarbonSMART tracks and manages greenhouse gas emissions for companies trying to reduce their emissions or meet emissions reporting standards.[1]
EnerNOC received a $10 million contract in 2010 to track how much energy state-owned facilities use in Massachusetts. The contract is funded with stimulus money through the United States Department of Energy. Massachusetts hopes to use the study to shave 5 to 15 percent of its annual energy expenses, as well as help shift to alternative energy sources. EnerNOC will be receiving metering information from 470 state-owned buildings, including schools, prisons, and municipal buildings. The information received will include how much energy is being used and where the energy is coming from (for example natural gas, oil, or renewable energy sources).[4] In the summer of 2010, EnerNOC contracted with the Tennessee Valley Authority, the nation's largest public power company, for a 10-year, 560 megawatt demand response contract that represented an addition of 400 MW to TVA’s existing deployment of approximately 160 MW with EnerNOC.[5]
In 2009, EnerNOC bought Cogent Energy, a company that provides building control and energy efficiency systems. In the same year, EnerNOC acquired eQuilibrium Solutions, which provides carbon accounting solutions.[6] In March, 2010, EnerNOC bought SmallFoot, LLC, a company that makes wireless systems to manage demand for smaller facilities. Tim Healy, CEO of EnerNOC, said of the acquisition, "Going deeper into this underserved market represents a large growth opportunity for our company. SmallFoot gives us additional technology to unlock all forms of demand response and deploy our full suite of applications in this exciting market."[7]
In late 2010 and early 2011, respectively, EnerNOC announced agreements to acquire Global Energy Partners and M2M Communications. Global Energy Partners is "an industry leader in designing and implementing utility energy efficiency and demand response programs."[8] M2M Communications specializes in wireless technology solutions for energy management and demand response.
EnerNOC, which stands for Energy Network Operations Center, has won numerous awards for its technology, customer service and industry.[9] Some of these awards include two 2009 Smart Grid Product of the Year Awards from the Technology Marketing Corporation and Intelligent Communications Partners. EnerNOC’s Boston Business Journal also honored EnerNOC’s EfficiencySMART Insight with a 2011 Best Green Practices Award in the Invention category.[10]
EnerNOC was also named one of the Boston Globe's Top 100 Places to Work in 2009[11] and 2010[12], as well as one of the Boston Business Journal's Best Places to Work in 2008.[13]