This is according to Richard Fearon, co-founder and CEO at PowerOptimal , a technology start-up specialising in internet of things-based power-monitoring and power-saving solutions.
PowerOptimal this week launched its Elon Smart Hot Water System in partnership with Kwikot , a geyser manufacturer.
The Elon Smart device is an IoT-enabled thermostat that connects "natively" to both grid power and solar energy systems, allowing for the maximal use of renewable energy when it is available in combination grid power used as backup for when the sun is not shining. Elon Smart can come integrated into new geysers and can also be retrofitted onto installed Kwikot geysers.
According to Fearon, households can save up to 50% on their electricity spend using the Elon Smart system, but the data it collects is even more useful for insurance companies, for whom preventing geyser bursts and the collateral damage to ceilings and other household structures is a major priority.
According to PowerOptimal, one of the most significant cost factors to heating water is acquiring the geyser itself. At the launch, PowerOptimal chief operating officer Sean Moolman told members of the media that having a geyser that lasts longer contributes significantly to the savings a household or business realises over time. Monitoring geyser usage and taking pre-emptive corrective action, he said, also increases a geyser's lifespan and should lead to lower insurance premiums for consumers.
