Nest Renew from Google and an Alphabet spinoff have merged to create Renew Home

 

The Nest Renew service from Google is departing from Google’s domain to unite with the OhmConnect energy management platform, resulting in the establishment of a fresh entity named Renew Home. Sidewalk Infrastructure Partners (SIP), a venture capitalist firm supporting OhmConnect and investing $100 million in the new venture, disclosed the collaboration. They anticipate this merger will establish “the country’s largest energy transition resource.” When available, Nest Renew and OhmConnect help users of smart homes make the most of connected devices to take advantage of economical or eco-friendly power. Nest Renew, which was released in 2021, helps users of Google Nest Thermostats by allowing them to strategically modify the energy usage of their HVAC systems, which facilitates savings.

OhmConnect rewards users for cutting back on their energy use during peak hours with payments. Its assistance reaches more than 220,000 homeowners in California, Texas, and New York City, allowing them to save money by using Ohm smart plugs and thermostats. OhmConnect serves as an electricity supplier in Texas and works with utilities like PG&E in California and New York.

Google spokesperson Patrick Seybold confirmed that there would be no interruption for current Nest Renew customers in a statement to The Verge. He said, “Renew Home will drive the Nest Renew service in the future, ensuring customers have a seamless experience and can anticipate enhanced offerings and experiences in the future.”

Renew Home seeks to combine Google Nest’s knowledge of offering energy-related goods and services that put an emphasis on economical and ecologically friendly energy solutions with OhmConnect’s home energy management platform. Their objective is to make it easier for smart devices and homes to become operational virtual power plants. SIP CEO Jonathan Winer noted in a blog post that Renew Home plans to accelerate the virtual power plant (VPP) market’s growth in partnership with business partners. This development is thought to be a significant step toward creating a more flexible energy system, which is necessary to achieve carbon neutrality in the future.

Virtual power plants use software to arrange groups of smart homes, then use those homes’ resources—such as home solar panels, vehicle-to-grid charging, and batteries—to feed energy into the grid when needed. Additionally, by dynamically controlling smart thermostats or shutting off connected appliances, these systems contribute to reducing grid demand. SIP has invested $100 million in Renew Home, with Alphabet, the parent company of Google, being a significant shareholder. Google will continue to own a small minority share of the newly established business. Until the deal is finalized—pending regulatory approval—the Nest Renew service will continue to be under Google’s jurisdiction.

Image: Google

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