New Texas Retail Provider Evolve Energy Launches; "Makes Energy Management Automatic in Texas with New AI-Based Platform"

Start-up retail electric provider Evolve Energy has launched service in Texas, with an app to provide access to wholesale electricity prices, "and optimize energy use for residents across the state."

Evolve Energy's creation and AI-managed wholesale pass-through business model were exclusively first reported by EnergyChoiceMatters.com last year. Its imminent launch of service had also been exclusively first reported by EnergyChoiceMatters.com

The Houston-based company is backed by Matt Rogers, co-founder of Nest. Evolve Energy is currently participating in the Capital Factory accelerator program and is a recent graduate of URBAN-X, the MINI-backed accelerator for startups reimagining city life.

"By combining wholesale electricity prices with an AI-powered platform that seamlessly connects to smart home devices, Evolve Energy allows consumers to manage their energy-use effortlessly, while unlocking savings of up to 40% off of electricity rates depending on how and when they use electricity," the company said

"Users pay a flat $10 monthly fee and input preferences, such as cost, comfort or carbon, to put Evolve Energy’s industry-leading AI platform to work and become more energy efficient, environmentally-friendly and cost-effective with ease," the company said

Concerning the cited up to 40% savings, the company states on its website, "Evolve Energy's platform is compatible with WiFi connected thermostats from Ecobee and Honeywell, with Nest coming soon. You pay $10 per month plus the wholesale cost of electricity -- that’s it. That alone saves the average Texas homeowner up to 20% per year off of their electricity rate. Plus, our AI automatically tweaks your power usage so you’re buying electricity when it’s at its cheapest. That could cut your electricity rate by up to 40%! Find out how much your unique savings would be on Evolve."

Evolve Energy further states on its website, "Send us a copy of your most recent electricity bill and we we'll crunch the numbers for you showing you exactly how much you would have saved with Evolve Energy over the past 12 months based on your prior usage. Just send us a copy of your most recent electricity bill, and we'll get back to you with an estimated savings within 24-48 hours (excluding weekends)."

"The retail electric industry is historically opaque. We want to change that -- one house at a time -- and serve as a trusted advisor to our customers to help them understand that they can make better choices about their energy consumption and save money in the process," said Evolve Energy co-founder and CEO, Michael Lee.

Evolve Energy is currently available in deregulated markets throughout the state of Texas, "with plans to expand to new cities soon," the company said

In addition to their residential launch, in the coming months Evolve Energy will also offer a similar product for Texas commercial and industrial customers.

"In the near future, Evolve Energy hopes to provide smart prepayments, which analyzes and forecasts energy usage to protect customers against rate spikes and ensures a consistent price," the company said (as first reported by EnergyChoiceMatters.com last month)