The Power Project Brings Together Energy-Saving Technology and Solutions to Address America’s Energy Burden
Nest Collaborating with Habitat for Humanity, Fannie Mae, and Energy Providers across America, to Bring Energy Efficiency to Those Who Need It Most
Palo Alto, California — 19 April 2018 — Since 2011, Nest thermostats around the world have helped customers save more than 22 billion kilowatt-hours (kWh) of energy. This Earth Day, Nest Labs, Inc. (nest.com), is announcing a commitment to continue those energy-saving efforts by helping income-qualified Americans get access to affordable energy solutions like the Nest Thermostat E through a new initiative - The Power Project.
The Power Project was driven largely by the vast discrepancy in the cost of home energy for households across America, according to statistics:
• The average American household spends around 3.5 percent of their income on energy bills each month, and data shows that the threshold of affordability is around 6-10 percent.
• In reality, one in five families actually spends 20 percent or more - and as much as 50 percent in some parts of the country - on utilities each month.1
• On average low-income households spend three times more of their income each month to heat and cool their homes than the average household in the U.S.2
• Energy insecurity creates other problems - families are often faced with difficult tradeoffs between energy bills and rent, food, and healthcare.3
Nest pledges one million thermostats to low-income homes
As part of The Power Project, Nest has committed to helping to install one million energy- and money-saving thermostats in low- and moderate-income homes over the next five years. The company will collaborate with utility programs, government and housing finance agencies, as well as non-profit organizations that work to bring energy efficient technology to the millions of Americans who qualify for income-based assistance programs, including:
• Habitat for Humanity - Nest will provide 4,000 Nest Thermostat E units to Habitat for Humanity. In an effort to help families build affordable homes that are safe and energy efficient, Nest Thermostat E will be available to local Habitat organizations for homes they are building or improving in the U.S. in 2018. Additionally, Nest will donate 10 percent of the proceeds of all thermostats sold between April 16-30, 2018, to Habitat in support of the nonprofit organization’s work to help families build strength, stability and independence through shelter.
• Fannie Mae - Fannie Mae to offer Nest Thermostat E to save energy and money in Fannie Mae homes. In select markets, some borrowers with HomeReady® - Fannie Mae’s flagship low- to moderate-income mortgage program - will receive a smart thermostat for their homes to experience how access to energy saving technology may lower total homeownership cost and help preserve affordable housing.
• Utility Partners - Nest energy partners, including the largest gas company in the U.S., Southern California Gas, will once again join forces to strengthen the options and relief available for qualifying households. Many income-qualified customers around the U.S. will be able to access utility programs aimed at making homes more energy and cost efficient, thereby lowering the energy burden.
“Creating a home that takes care of the people inside it and the world around it has been Nest’s mission since day one,” said Jeff Hamel, head of energy partnerships at Nest. “We’ve joined with Habitat for Humanity, Fannie Mae, and energy providers across the country this Earth Day to bring this mission to life through The Power Project, to connect families with the tools and programs that can help alleviate the burden of high energy costs. Every family deserves to have heat in the cold and light in the dark.”
Statements from The Power Project Collaborators
“Too often, the people who would benefit most from energy upgrades are least able to afford them,” says Jonathan Reckford, CEO of Habitat for Humanity International. “We are grateful to Nest and the opportunities that energy-efficient thermostats can provide for families who partner with Habitat. Having an affordable mortgage, combined with savings in utility costs, means that families can have more to spend on other basics like food, clothing, medicine and savings.”
“We are excited to support smart ways for families to incorporate energy efficiency options in their homes,” said Fannie Mae’s Jonathan Lawless, vice president for product development & affordable housing. “Providing simple, effective means to lower energy costs can help homeowners reach their goals of responsible and sustainable homeownership.”
“At SoCalGas, we understand that low energy bills are important to our customers; we are always working to keep natural gas bills affordable and are excited to expand our partnership with Nest to provide access to energy management technologies to more households,” said Lisa Alexander, vice president of customer solutions, communications and environmental strategy at SoCalGas. “Our energy efficiency and rebate programs empower customers to save money on their energy bills while also driving down greenhouse gas emissions; over the past five years, these programs have saved customers $161 million, and since 1990, they have reduced emissions equal to taking almost 700,000 cars off the road.”
To learn more about The Power Project, visit nest.com/powerproject.
Nest’s mission is to create a home that’s thoughtful - one that takes care of the people inside it and the world around it. The company focuses on simple, beautiful and delightful hardware, software and services. The Nest Learning Thermostat™ and Nest Energy Services keep you comfortable and can help reduce energy consumption. The Nest Protect™ smoke and carbon monoxide alarm helps keep you safe and the Nest Safety Rewards program lets you save money through participating home insurance providers. The Nest Secure™ alarm system, Nest Cam™ security cameras, and Nest Hello™ video doorbell help keep an eye on home from anywhere.
Nest products are sold in 20 countries and have been installed in almost every country in the world. The Nest Learning Thermostat has helped save approximately 22 billion kWh, enough energy to power the planet for one hour. And through the Works with Nest program, third-party products can securely connect with Nest devices to make homes safer, more energy efficient and more aware. More than 30,000 Nest Pros around the world help install Nest products.
For more information, visit nest.com.