Elastic Energy [https://elasticenergy.io/] is transforming the residential energy landscape by building an AI-powered energy management platform that places whole-home energy management on autopilot. Our consumer-facing AI assistant, Ellie, helps manage energy more effectively by optimizing consumption, reducing waste, and providing limitless energy on demand. Unlike other solutions focused on technical users or specific devices, Elastic prioritizes the consumer experience, making energy management simple and stress-free. Deep Dive Audio 🎙️
The Problem
The current consumer energy experience is fundamentally broken. Homeowners face rising energy bills, confusing rate structures, and a general lack of trust in utilities. Key pain points include:
Rising Costs: 65% of US families believe their energy bills will become unaffordable within the next three years.
Lack of Control: 89% of consumers want more control over their energy consumption.
Complexity: Electrification and variable rates can be intimidating and confusing for the average consumer.
These factors lead to feelings of powerlessness and financial stress. Elastic Energy aims to change that by giving consumers tools for transparency, control, and savings.
The Solution: Ellie.
Elastic is tackling the energy distribution crisis by introducing Ellie, a consumer-facing AI assistant designed to:
Put energy on autopilot: Ellie manages energy usage throughout the home, adjusting for efficiency while meeting user needs.
Reduce energy bills: Using deep modeling and AI control, Ellie optimizes energy use to deliver up to 35% savings on energy costs.
Empower users: Ellie simplifies energy management by providing a clear, intuitive interface and control mechanisms, allowing users to understand and adjust their energy usage with ease.
Elastic Energy also features a partner-facing platform called E1 that enables utility partners to better engage consumers and promote electrification and participation in demand-side flexibility programs.
How It Works
Elastic Energy provides a multi-layered approach to improving the consumer energy experience:
In-home Energy Assistant & Interface: Ellie acts as the central hub for managing all energy consumption at home, from electric vehicles to water heating.
Automated Energy Management: Using AI-driven deep modeling, Ellie intelligently controls energy loads to optimize cost efficiency without sacrificing comfort.
Progressive Engagement: The platform encourages adoption of controllable loads (like smart appliances) to further enhance energy optimization. Elastic is focused on onboarding the 90% of residential load that currently remains unmanaged.
Value Proposition
Elastic Energy stands out by prioritizing the consumer experience above all else. Key benefits include:
Significant Cost Savings: Users can save up to 35% on energy bills through optimized management.
Increased Control & Transparency: Elastic gives consumers more control over their energy use, providing a sense of empowerment and trust.
Simplified Electrification: Seamlessly integrates EVs and electric appliances into the home energy ecosystem, encouraging broader adoption of green energy solutions.
The Opportunity
The US residential energy market is valued at $300 billion and is rapidly growing due to electrification initiatives. Despite this growth, the consumer experience remains complex and often frustrating. Key opportunities for Elastic include:
Load Shaping Potential: By using Ellie to shape residential load, Elastic can help utilities avoid over 30% of upcoming infrastructure costs, estimated at over $1 trillion.
Flexible Grid Integration: With FERC Order 2222 allowing distributed energy resources (DERs) to participate in wholesale markets, Elastic empowers residential users to be part of the energy grid transformation.
Growth Strategy
Elastic Energy has a clear growth trajectory designed to capture the untapped potential in residential energy management:
Launch Platform as a Subscription Service: Begin by offering a subscription-based energy management solution in key US markets.
Drive Engagement through Software Tools: Introduce features and integrations that improve user experience and engagement.
Expand Across the US: Once established, expand the service nationwide, leveraging direct-to-consumer (D2C) and partner distribution strategies
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Competitive Advantage
While other companies are building API aggregators, device-specific virtual power plants, and tools that appeal to technical users, Elastic Energy is laser-focused on the consumer experience. Our solution is intuitive, automated, and focused on empowering everyone—not just the energy experts—to make better energy decisions.
Meet the Team
Elastic Energy is founded by experienced hardware startup entrepreneurs passionate about electrification and a better consumer energy experience:
Ben Hilborn (Co-founder & CEO): With a B.Sc in Electrical Engineering, Ben brings extensive experience in solar and distributed energy systems. He has led DER deployment projects and co-founded other successful startups, showcasing his deep commitment to transforming residential energy.
Brandon Riches (Co-founder & CTO): A B.Sc in Engineering Physics graduate, Brandon has scaled a device management company to 500,000+ devices and holds several patents in electronics and software, demonstrating his strong technical expertise.
The team includes hardware and electrical experts who have written or supported over 9 electronics and software patents and are deeply involved in projects like the Advanced Water Heating Initiative.
Get Involved
If you share our vision for revolutionizing the consumer energy experience, we invite you to join us. Whether you want to become a user, partner, or investor, Elastic is poised to reshape how people engage with energy.
