Nest's Learning Thermostat just got a little bit smarter - and more useful. This week Nest Labs, Inc. announced its newest advancement Time of Savings will learn the energy pricing of customers on Time of Use rate plans and adjust electricity use to save money during peak expense times.
As more states look to alter the effects of solar net metering on utilities, Time of Use rates are becoming the go-to solution because they force all customers to pay more when demand is higher. This way solar power users aren't sucking up additional energy during peak use times when their solar energy doesn't meet their needs, which can cause rate hikes for non-solar users.
The Nest Learning Thermostat will learn the rates and adjust its settings automatically to save energy and money. It will only adjust the temperature by a degree or two, which is enough to see significant savings without affecting home owners' comfort, says the company.
The company is currently partnering with SolarCity to provide all customers a Nest Thermostat for free when they install solar panels. Nest is also working with energy companies, such as Southern California Edison, to bring Time of Savings to more customers.