{"id":7516,"date":"2024-01-22T20:13:04","date_gmt":"2024-01-22T19:13:04","guid":{"rendered":"https:\/\/shams-alyaoum.com\/en\/?p=7516"},"modified":"2024-01-22T20:13:04","modified_gmt":"2024-01-22T19:13:04","slug":"bidgely-hits-record-sales-milestone-in-2023-delivering-utilityai-platform-driven-value-to-both-existing-and-new-customers","status":"publish","type":"post","link":"https:\/\/shams-alyaoum.com\/en\/bidgely-hits-record-sales-milestone-in-2023-delivering-utilityai-platform-driven-value-to-both-existing-and-new-customers\/","title":{"rendered":"Bidgely Hits Record Sales Milestone in 2023 \u2013 Delivering UtilityAI Platform-Driven Value to Both Existing and New Customers"},"content":{"rendered":"
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Company extended end-to-end UtilityAI\u2122 offerings to energy providers throughout North America, Europe, Australia, India and the United Arab Emirates<\/i><\/p>\n

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–Bidgely<\/a>\u00a0today announced that, in 2023, the company achieved its highest ever new annual sales. A significant proportion of this uptick was driven by Bidgely\u2019s existing customer base expanding their adoption of Bidgely\u2019s energy artificial intelligence (AI) solutions. The company also closed its largest new customer sales, entering partnerships with nearly a dozen new energy providers in new regions and markets around the world. With this growth, Bidgely is well-positioned to become profitable in 2024.<\/p>\n

\u201cThe increasing number of customers choosing to expand their solutions across multiple grid and customer use cases with us proves utilities prefer and value a well-designed platform approach. They\u2019re accomplishing the same outcomes from one vendor with less IT burden and lower costs overall,\u201d said Abhay Gupta, CEO of Bidgely. \u201cTo this effect, we continue to see utilities combine programs into one consolidated journey to bridge the gap between the customer and grid sides of the meter.\u201d<\/p>\n

For example, one East Coast utility is expanding its partnership with Bidgely to execute an end-to-end energy efficiency solution that aligns with new time-of-use (TOU) regulatory priorities while continuing to promote significant energy savings and customer engagement. Backed by AI-powered energy insights, Bidgely\u2019s Home Energy Reports, electric vehicle (EV) charging engagement tools and digital bill\/usage alerts will help the utility\u2019s customers better manage their energy usage, saving on electricity costs as well as building a more positive relationship with the utility.<\/p>\n

Key Industry Evolutions from 2023<\/b><\/p>\n

This growing adoption of Bidgely\u2019s solutions is driven by several fundamental shifts in the utility industry. Firstly, utilities are facing more scrutiny from regulators than ever before when it comes to Integrated Resource Planning (IRP).<\/p>\n

\u201cMany utilities that don\u2019t have access to big data-driven insights saw their IRP and grid asset investment budgets rejected by the regulators as the plans proposed over-investment without surgical planning,\u201d said Gautam Aggarwal, chief revenue officer at Bidgely.<\/p>\n

\u201cIn 2023, three of Bidgely\u2019s utility customers used the company\u2019s behind-the-meter asset intelligence for both appliances and distributed energy resources (DERs) to gain distribution asset capacity insights,\u201d continued Aggarwal. \u201cBy understanding which premises and circuits are causing peak loads on grid assets, these customers are able to integrate DER growth analysis into grid planning, asset capacity management as well as non-wire alternative planning into distribution system planning.\u201d<\/p>\n

\u201cBidgely\u2019s grid planning tools eliminate the blind spots and provide utilities with data that can support their investment plans to ensure regulators recognize that the plan is optimized for cost,\u201d concluded Aggarwal.<\/p>\n

Another ongoing industry trend is the increased adoption of next generation smart meters that will leverage AI at the edge to generate insights, especially as DERs gain traction. In 2023, Bidgely partnered with an industry-leading smart meter technology portfolio company to launch one of the first working Distributed Intelligence (DI) applications on its next-generation smart meters. With this strategic partnership, Bidgely added real-time EV and solar awareness and targeting on the smart meters to better serve in-the-moment peak-time charging and load management decisions. The two companies successfully launched the offering with a southeastern utility, and an additional two utilities are in the active pilot phase.<\/p>\n

Finally, utilities continued signing up for EV managed charging projects, most of which stayed in the pilot phase with only a small percentage of EV owners opting in as consumers remain wary of relinquishing control of their EV chargers to utilities. Bidgely\u2019s holistic\u00a0end-to-end EV solution<\/a>\u00a0allows utilities to detect EVs on the grid with 90+ percent accuracy, decode charging behavior, and target\/engage the right customers. The solution uses a combination of opt-in (telematics) and opt-out (non-telematics) approaches thereby ensuring large user participation and maximum load shift at one-third the cost compared to other non-targeted EV managed charging solutions. Four of Bidgely\u2019s utility partners are already benefiting from this comprehensive and cost effective solution.<\/p>\n

UtilityAI\u2122 Platform Expansions<\/b><\/p>\n

In addition to providing its utility partners with industry-leading customer experience and energy efficiency solutions, Bidgely successfully launched and deployed a suite of new AI-powered offerings aimed at addressing utilities\u2019 most pressing initiatives in 2023, including:<\/p>\n

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  • Enhanced small and medium-sized business (SMB) energy support tools.\u00a0<\/b>Five utility customers including a West Coast energy provider have partnered with Bidgely to adopt these tools to increase\u00a0SMB engagement<\/a>\u00a0through enhanced targeting, enrollment, and program adoption strategies.<\/li>\n
  • Behind-the-Meter (BTM) targeting<\/b>\u00a0to support electrification, fuel-switching, heat pump adoption, and inefficient appliance upgrade initiatives as well as provide a non-telematics approach to EV load management.<\/li>\n
  • DER Grid Planning<\/b><\/a>, including\u00a0\u2018<\/b>8760 Energy Insights<\/b><\/a>,\u2019\u00a0<\/b>which enables utilities to identify trends, predict future grid patterns, and better understand the load impact on grid-facing assets with greater precision, flexibility, and agility.<\/li>\n<\/ul>\n

    Global Expansions<\/b><\/p>\n

    In addition to strengthening relationships with its North American customers, Bidgely also expanded its global footprint.<\/p>\n

    Bidgely has been awarded large multiyear, multimillion dollar deals in the United Arab Emirates (UAE), expanding their UtilityAI solution to serve smart meter data in UAE and building momentum in the broader Gulf Cooperation Council (GCC) region. The company also signed a\u00a0partnership with Moro Hub<\/a>, a subsidiary of Digital DEWA, and the digital arm of Dubai Electricity and Water Authority (DEWA) (PJSC). Bidgely is also in the process of signing large, multiyear contracts in Europe and Australia.<\/p>\n

    In the newly-emerging markets like India, Bidgely has developed and field validated its theft detection solution with large state-owned utilities. India suffers from a USD 10 billion energy theft problem, which is one of the main drivers of smart meter adoption in the country.<\/p>\n

    Industry Leadership and Accolades<\/b><\/p>\n

    Bidgely was once again recognized as a \u201cLeader\u201d in customer engagement by both\u00a0Guidehouse Insights<\/a>\u00a0and\u00a0IDC MarketScape<\/a>. The company was also named a finalist in the\u00a0S&P Global Energy Awards\u00a0<\/a>\u2018Grid Edge\u2019 category for the third consecutive year.<\/p>\n

    Bidgely also hosted two\u00a0UtilityAI Executive Innovation Collaborative (UEIC)<\/a>\u00a0events in 2023. In roundtable and workshop sessions, Bidgely led discussions with executives from organizations such as Duke Energy, Tennessee Valley Authority, Smart Electric Power Alliance (SEPA), NV Energy, Rocky Mountain Power, PacifiCorp, Avista, FortisBC, Ameren, SDGE, OG&E and others.<\/p>\n

    To learn how utilities worldwide are leveraging AI-powered energy insights, read\u00a0Empowering Utilities with True, Behind-the-Meter Disaggregation: Bidgely\u2019s Proven Approach and Real-World Impact.<\/i><\/a><\/p>\n

    About Bidgely<\/b><\/p>\n

    Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely’s UtilityAI\u2122 Platform transforms multiple dimensions of customer data – such as energy consumption, demographic, and interactions – into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, Bidgely is advancing smart meter innovation with data-driven solutions for solar PVs, EV detection, EV behavioral load shifting and managed charging, energy theft, short-term load forecasting, grid analytics, and TOU rate designs. Bidgely\u2019s UtilityAI\u2122 energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 16 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit\u00a0www.bidgely.com<\/a>\u00a0or the Bidgely blog at\u00a0bidgely.com\/blog<\/a>.<\/p>\n