Evolve Energy is a Houston-based energy startup that uses AI and machine learning to optimize electricity consumption. The company operates on a subscription model, charging a $10 monthly fee plus the cost of wholesale electricity, which fluctuates based on market conditions. Evolve Energy’s technology predicts energy price surges, enabling customers to reduce their consumption during high-price periods. By pairing its services with smart thermostats, Evolve helps residential users save up to 40% on their electricity bills annually. Rather than acting as a traditional energy provider, Evolve positions itself as an energy manager, offering efficiency without markup on the wholesale cost.
This model has proven popular with customers, enabling both cost savings and a greener energy system. In 2020, the company was acquired by Octopus Energy, which is using Evolve's technology to expand its renewable energy efforts in the U. S. .
