Posted December 12, 2023
- Joint development of new accessible energy management solutions to increase sustainability and cost savings for homeowners in North America
- Partnership leverages the strengths of Lumin’s software and cloud capabilities in responsive load control along with ABB’s electrical distribution portfolio and channels to market
- New investment is another step in ABB’s commitment to enhancing energy management in the residential energy sector
In its continual efforts to enhance customer experience, ABB is investing in Lumin, the US-based pioneer and leading provider of responsive energy management solutions, to bring new smart and sustainable technologies to homes in North America. ABB led the strategic investment with participation from Lumin's primary institutional investor, Carbon Drawdown Collective, and its other incumbent investors. Lumin’s innovative platform enables electrification upgrades without changing the home’s existing electrical panel. It provides unprecedented insights into behind-the-meter consumption data and dynamically shifts loads to support the energy transition for communities.
Globally, buildings contribute to 40% of total energy consumption, emphasizing the crucial role they play in the push towards electrification. In the US, the residential sector alone accounts for about 21 percent of the country’s total annual energy consumption1, a number set to surge with the ongoing shift toward electrification and decarbonization. Intelligent load management is vital for meeting the surging energy demand to increase sustainability, efficiency and lower emissions.
The investment by ABB Electrification’s Smart Buildings Division in Lumin enables them to develop a joint offering to accelerate and optimize accessible home energy management. Lumin offers leading-edge homeowner and installer hardware and software solutions that complement ABB’s robust residential portfolio. This collaboration will bring new innovations to the North American residential energy sector that support the safe, smart, and sustainable electrification of both new and existing homes. A first joint offering is expected to come to market in early 2024.
CLICK HERE to read the full press release.
