Kontrol Technologies Corp. (Toronto), a specialist in smart buildings and cities focused on IoT, cloud and SaaS technologies, this month announced it is entering the Quebec demand response energy market for commercial and multi-residential buildings. The company said it will leverage its SmartSuite technology to supply a best-in-class demand response management solution in the region.
“The demand response markets are growing rapidly across North America due to advancement of smart technologies, which utilities are increasingly leveraging for operating efficiency and resource allocation,” points out Paul Ghezzi, CEO of Kontrol Technologies.
Ghezzi adds, “Kontrol is offering a top tier solution through our SmartSuite technology, which has the ability to communicate with local utilities and either reduce power consumption or shut off power demand at the building and suite level, and seamlessly integrate into utilities’ grid management framework. We look forward to serving customers in the Quebec market in the near term, helping to facilitate utility grid optimization, energy conservation and greenhouse gas emission reduction.”
SmartSuite streamlines utilities' demand response
Using Kontrol’s propriety cloud and energy control system, the company can integrate its SmartSuite solution with utilities that operate demand response programs through the use of APIs. Most demand response programs provide customer incentives that correlate to kilowatt hours of energy saved.
Such incentives can reduce initial capital investment and accelerate adoption of energy savings technologies. For instance, through its operating subsidiary, Hilo, Hydro Québec offers a demand response program which encourages buildings to participate in reducing energy consumption in peak demand periods.
Demand response market growing in North America
The Global Smart Demand Response Market size is predicted to reach USD 75.53 billion by 2030 with a CAGR of 14.2% from 2020-2030, according to Next Move Strategy Consulting as cited by Kontrol.
North America is anticipated to grow with the highest CAGR, attributable to factors including enhanced developments in smart technologies, high R&D investments, and high consumer awareness.
As also cited by Kontrol, according to Technavio, 59% of growth during the period from 2021-2025 is expected to originate from North America.
Learn more at www.kontrolcorp.com.