In an attempt to cut down domestic energy consumption,
Honeywell International Inc.
) recently announced the launch of Total Connect Comfort with
Automated Demand Response (ADR) - a new Wi-Fi-enabled thermostat
that helps utilities and home owners to cut down energy costs.
Under ADR program, home owners can reduce their energy use when
the demand increases.
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Homeowners can manage their home temperature and energy usage
from anywhere in the world with the Total Connect Comfort
application fitted into a smartphone or any web-connected device.
As per the U.S. Environmental Protection Agency, these new
thermostats can save homeowners nearly $200 on heating and
cooling costs annually. The South Sioux City is the first
municipality to implement the new Wi-Fi thermostat as an effort
to cut energy consumption costs and drive efficiency. With this
new technology, the municipality can decrease the demand for
energy and avoid potential power disruptions. The new thermostats
are expected to generate more than $800,000 in energy and
operational savings annually for South Sioux City.
The Wi-Fi thermostat can connect directly to smart grid
technology for utilities. The technology is developed by
Honeywell's Akuacom business. The Akuacom software as a service
(SaaS) helps the utilities to reduce their energy load to ensure
steady supply without any blackout. It also facilitates two-way
communication between utility and homes to adjust the thermostat
as per requirement.
Honeywell is a global diversified technology and manufacturing
company with a wide range of aerospace products and services,
control, sensing and security technologies for buildings, homes
and industry, turbochargers, automotive products, specialty
chemicals, electronic and advanced materials, process technology
for refining and petrochemicals and energy efficient products and
solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Buy). Other stocks that
look promising and are worth a look are I
Compass Diversified Holdings
Hutchison Whampoa Ltd
), each carrying a Zacks Rank #2 (Buy).