Council Associate Partner Opower has filed for an initial public offering (IPO) according to the Wall Street Journal. Opower helps utility customers reduce their bills by giving them comparisons to similar households and personalized recommendations.
A successful IPO could provide a needed spark to the energy efficiency sector. It would certainly give Opower the money to ramp up globally. It might also bring additional venture investing to the category.
Helping residents keep energy costs down is important to any city. Opower has mastered several ways of inducing consumers to change their behavior -- in this case, their energy consumption behavior -- for their own good. Long-term, the techniques Opower has pioneered in electric power may have application in other areas as well.-- Jesse Berst