Schneider Electric has acquired a developer of residential energy software, company officials announced last week.
The French electrical and automation supplier said that the addition of WattBuy would allow the company to “simplify and accelerate the energy transition for U.S. homeowners.”
WattBuy says that its software platform provides personalized energy insights and electrification solutions, including recommendations for electricity plans, energy costs, and rooftop solar and battery storage capabilities. Schenider Electric officials said that WattBuy would work in tandem with fellow subsidiaries EnergySage, an online solar and energy storage marketplace, and electrification services provider Qmerit.
WattBuy co-founder and CEO Naman Trivedi, along with its current management team, will continue to lead the business. Additional terms of the deal were not disclosed.
"Electrification is the defining opportunity of the next decade — and it starts with empowering consumers," Jaser Faruq, senior vice president of prosumer at Schneider Electric, said in a statement. "WattBuy's personalization capabilities and intelligence engine are the perfect complement to EnergySage's mission of transparency and choice.”
