Month: July 2016

Eligo CEO says “This is What Makes a Great Investor” in Fortune magazine

Incubators aren’t always worth the cost.

The Entrepreneur Insiders network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “What’s the best way for young startup owners to develop relationships with angel investors?” is written by Alexander Goldstein, founder and CEO of Eligo Energy.

As an angel investor and an entrepreneur, I can say firsthand that having smart, motivated investors is critical to the success of your startup. The right investors can open doors, identify and help resolve potential problems, and connect you with other investors. The best investors will actively scrutinize your startup and help you anticipate potential problems, often at the expense of telling you that you are heading in the wrong direction.

Continue reading at Great Investor

Eligo CEO Alexander Goldstein has “5 Money-Saving Tips to Beat the Heat” in Money Magazine

Know the Peak Hours

Many energy providers are switching to advanced metering infrastructure, known as smart meters, which can charge different rates for energy used during peak hours. In fact, about 51 million residential units have been installed so far in the U.S. in states like California, Texas, Florida, Oklahoma, Arkansas and Maryland. For most people, peak hours tend to be between 9 a.m. and 9 p.m. “For the same usage, you’re better off running the dishwasher after 9 o’clock and plugging in chargers overnight as well,” says Alex Goldstein, CEO of Chicago-based retail energy provider Eligo Energy.

PSE&G, which serves as New Jersey’s largest utility, expected daily demand for electricity to soar to 8,937 megawatts Wednesday, with the demand growing each day after that if temperatures remained in the 90s. The utility hit its record high on Aug. 2, 2006 with 11,108 megawatts consumed.

Temperature is Key

For every degree you lower the temperature in your house, you raise your bill by up to 6%, according to electric utility Eversource, which provides service to customers in Massachusetts, Connecticut and New Hampshire.

For the most part, setting your thermostat at 78°F in the summer is optimal, especially if you’re using a fan to circulate the air, according to Consumer Energy Center. When you leave the house, instead of turning your air conditioner off completely, increase the temperature to 85°F. If you turn off your HVAC unit completely in a large house, it can take additional energy cooling it back down and could cost you more than if you had just adjusted the temperature.

Maintain Your Equipment

It can really save you money to check and replace the filters in an air conditioner or HVAC system regularly. Over time, they clog up and end up using more power to achieve the same cooling affect. Goldstein recommends changing filters every six months.

It can also be cost-effective to replace old appliances with energy-efficient ones, usually labeled Energy Star, according to Con Edison, which supplies energy to New York City residents.

Continue reading at Beat the Heat

Eligo’s Mark Freidgan talks Asian energy regulations in Japan’s New Energy Rules Make it a Paraside for Renewables”

JAPAN IS A weird place. But not for any of the reasons you’re thinking. I’m talking in terms of energy, because among industrialized, consumer-ized, electronically-driven nations, Japan probably has the world’s worst portfolio of homegrown energy resources—it’s the second largest net importer of fossil fuels. But it gets weirder. This month, the island nation rewrote its energy rules to give consumers the power to choose which energy source it wants.

Before Fukushima, Japan got 30 percent of its power from nuclear energy. That would be significant even in a countrywith abundant natural resources. In lieu of coaxing a gas-filled meteor to fall into its lap, the Japanese government is hoping to use market forces to generate innovation in the energy sector. See, if electricity buyers get to buy from the lowest bidder, then those bidders will have to compete for ever-lower prices. Which doesn’t just mean lower prices for consumers: It could result in a boom for renewables.

First, a quick primer on how you get electricity. The stuff begins at the generator—a coal plant, hydroelectric dam, warehouse full of hotwired hamster wheels, whatever—and then enters transmission lines. Those electrons then go into local lines, pass through your meter ($$$), and finally get converted by your computer into the webpage displaying this article.

Traditionally, this whole process was operated by so-called vertically-integrated energy providers. They own the plants, they own the lines, they send you the bill. The price of electricity gets set by regulators, who base them on a company’s operating costs. “There is a downside, and that is a monopoly doesn’t allow for much competition and therefore it doesn’t allow for innovation,” says Mark Friedgan, chief information officer of Chicago-based Eligo Energy.

Continue reading at Japan Renewables