source Shutterstock Octopus Energy will team up with a Silicon Valley tech company to make renewable energy cheaper. Customers can turn off heating during peak price times, control their energy usage remotely, or charge electric vehicles more cheaply. Octopus Energy, a UK renewable energy company backed by £7 billion ($8.8 billion) fund Octopus Capital, is set to announce an integration with If This Then That (IFTTT) to enable customers to automatically adjust energy usage based on changes in price. Based in San Francisco, IFTTT has raised $62.5 million in venture capital funding from investors that include the firm Andreessen Horowitz and Salesforce. In a release on Thursday, the companies say customers can save hundreds of pounds a year as well as trim personal CO2 footprint by choosing to, for example, turn off heating during peak price times, control their energy usage remotely, or charge electric vehicles more cheaply. Octopus supplies renewable energy to about 400,000 UK homes – one notable customer is the Premier League soccer club Arsenal. Renewables’ share of electricity generation in the UK jumped to a record quarterly high of 30.1% in the first three months of the year, compared to 27% at the same time last… Read full this story
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