As part of the smart home environment, Loop will continue to develop new features and benefits as the household energy mix becomes more complex, with the addition of electric vehicles and home energy generation.
Commenting on the launch of Loop, Trust Power founder Roy Bedlow, said: “We wanted to create something that was user-friendly and provides real-time information, so people can immediately see the impact they can make. Loop allows users to build an understanding of how they consume, and more importantly, waste energy, whether that’s by leaving things on or on standby unnecessarily, or by simply not being aware how much something costs to run. With Loop they can see in clear and simple terms how different things affect their bill and can take action to lower their usage and costs. With energy costs rising every year, we want to help consumers make sure they’re spending their money wisely and helping the environment at the same time.”
Bedlow added: “Although smart meters have made a start on helping people become more aware of the energy they’re using, the primary purpose of a smart meter is for suppliers to access meter readings. Loop goes much further with the app allowing people to see in real-time how easy, but high-impact changes make a big difference to their energy bills.
“Our ambition is to have a positive and lasting impact on the environment. But in order to do this, we need people to understand the role they can play. It was out of this ambition that Loop was born. We believe Loop can harness the power of the collective – if every household took steps to become more aware of how they use energy and made a few small changes, that would have a significant impact. But we understand that people lead incredibly busy lives, so it’s important we make it as easy as possible, and that’s what Loop does.”
Loop is the first consumer product from Trust Power, the Oxford-headquartered company established in 2017. The business is committed to building a smarter energy future for consumers, businesses and the planet. The organisation currently employs a number of Oxford University Graduates including its Head of Data Science, Dr Steve Buckley.
Roy Bedlow commented: “As well as being a city that’s forward-thinking when it comes to tackling climate change, Oxford was the right place for us to develop Loop as there is an incredibly high standard of local talent, particularly in the data and technology sector.”
The device is available to buy from https://loop.homes/ and is priced at £49.99.
[i] Ofgem 2019 State of the Energy Market Report
[ii] Ofgem 2019 State of the Energy Market Report
