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Southern (SO) & Samsung Collaborate on Smart Energy
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Southern Company (SO - Free Report) and Samsung SmartThings have formed a strategic alliance through a Letter of Intent (LOI) to transform consumer energy management and smart home automation. This collaboration aims to develop innovative projects that combine consumer energy management with smart-home automation, resulting in a new era of personalized, automated solutions. With a focus on quantifiable reduction in energy costs and greenhouse gas emissions, this partnership signifies a monumental step toward sustainable energy practices and enhanced customer experiences.
Unlocking Residential Flexible Load and Grid Benefits
At the heart of this collaboration lies the ambition to unlock residential flexible load and grid benefits. By leveraging Samsung SmartThings' global connected living platform for smart homes, users across more than 200 countries will gain access to personalized energy management solutions.
The integration of Southern's energy expertise with Samsung's smart home technology has the potential to deliver tailored solutions that cater to individual energy needs while promoting efficiency and sustainability.
Empowering Consumers Through Smart Technology
Samsung SmartThings, renowned for its innovative approach to smart home technology, empowers consumers to control their connected devices seamlessly. Recognized by the U.S. Environmental Protection Agency (EPA) as the first commercial Smart Home Energy Management System (SHEMS), the SmartThings app provides users with intuitive control over their energy consumption.
With 71% of U.S. households owning at least one Samsung device, SmartThings enjoys widespread adoption, laying a solid foundation for impactful energy initiatives. With Southern's commitment to advancing energy efficiency, this collaboration aims to enhance the lives of customers by providing them with automated solutions that optimize energy usage and reduce environmental impact.
Strategic Initiatives Driving Innovation
The collaboration between Southern and Samsung SmartThings will encompass several strategic initiatives aimed at driving innovation and enhancing customer engagement.
Creation of an Innovation Laboratory and Test Site: An innovation laboratory and test site will serve as the hub for testing integrations and demand response simulations. This facility will enable rigorous testing of solutions prior to customer implementation, ensuring reliability and effectiveness in real-world scenarios.
Custom User Experience Design on SmartThings: Southern will work closely with Samsung SmartThings to design and implement a custom user experience for its customers. This initiative will facilitate the recruitment, enrollment and engagement of users during energy-efficient battery pilots, such as the upcoming Mississippi Power project scheduled for the first quarter of 2024. Participants will have access to their usage data through the SmartThings app, thereby gaining control over their energy consumption.
Support for Smart Neighborhood Projects: SmartThings will provide support to Mississippi Power's Smart Neighborhood project through customer education, engagement and data analytics. This collaborative aims to showcase the potential of smart technology in creating sustainable, energy-efficient communities, while empowering residents to make informed decisions regarding their energy usage.
A Vision for the Future
Southern and Samsung SmartThings engage on this collaborative journey with a vision that includes sustainable energy practices, improved customer experiences, and a cleaner, more efficient power grid. This collaboration aims to transform the way consumers interact with their energy resources by leveraging the power of smart technology and innovative solutions, paving the way for a brighter, more sustainable future.
Conclusion
The collaboration between Southern and Samsung SmartThings marks a milestone in the realm of consumer energy management and smart-home automation. With a shared commitment to innovation and sustainability, these two industry leaders are poised to shape the future of energy consumption and grid management. They aim to empower consumers, lower costs, and reduce environmental impact through strategic initiatives and personalized solutions, bringing in a new era of smart living and sustainable energy practices.
Essential Utilities: WTRG is worth approximately $9.72 billion. It currently pays a dividend of $1.23 per share, or 3.45% on an annual basis.
Through its subsidiaries, Essential Utilities operates regulated utilities in the United States that provide water, wastewater and natural gas services. The company operates under two segments — Regulated Water and Regulated Natural Gas.
GDF Suez: ENGIY is an energy company that operates in both electricity and natural gas throughout the energy value chain, from upstream to downstream.
It currently pays a dividend of 3.22 cents per share, or 2.82% on an annual basis. In the past year, its shares have risen 10.5%.
E.ON SE: EONGY is the world's largest investor-owned energy service provider with operations in energy, chemicals, real estate, oil, telecommunications, distribution/logistics, aluminum and silicon wafers.
It currently pays a dividend of 41 cents per share, or 3.08% on an annual basis. In the past year, its shares have risen 22.6%.
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Southern (SO) & Samsung Collaborate on Smart Energy
Southern Company (SO - Free Report) and Samsung SmartThings have formed a strategic alliance through a Letter of Intent (LOI) to transform consumer energy management and smart home automation. This collaboration aims to develop innovative projects that combine consumer energy management with smart-home automation, resulting in a new era of personalized, automated solutions. With a focus on quantifiable reduction in energy costs and greenhouse gas emissions, this partnership signifies a monumental step toward sustainable energy practices and enhanced customer experiences.
Unlocking Residential Flexible Load and Grid Benefits
At the heart of this collaboration lies the ambition to unlock residential flexible load and grid benefits. By leveraging Samsung SmartThings' global connected living platform for smart homes, users across more than 200 countries will gain access to personalized energy management solutions.
The integration of Southern's energy expertise with Samsung's smart home technology has the potential to deliver tailored solutions that cater to individual energy needs while promoting efficiency and sustainability.
Empowering Consumers Through Smart Technology
Samsung SmartThings, renowned for its innovative approach to smart home technology, empowers consumers to control their connected devices seamlessly. Recognized by the U.S. Environmental Protection Agency (EPA) as the first commercial Smart Home Energy Management System (SHEMS), the SmartThings app provides users with intuitive control over their energy consumption.
With 71% of U.S. households owning at least one Samsung device, SmartThings enjoys widespread adoption, laying a solid foundation for impactful energy initiatives. With Southern's commitment to advancing energy efficiency, this collaboration aims to enhance the lives of customers by providing them with automated solutions that optimize energy usage and reduce environmental impact.
Strategic Initiatives Driving Innovation
The collaboration between Southern and Samsung SmartThings will encompass several strategic initiatives aimed at driving innovation and enhancing customer engagement.
Creation of an Innovation Laboratory and Test Site: An innovation laboratory and test site will serve as the hub for testing integrations and demand response simulations. This facility will enable rigorous testing of solutions prior to customer implementation, ensuring reliability and effectiveness in real-world scenarios.
Custom User Experience Design on SmartThings: Southern will work closely with Samsung SmartThings to design and implement a custom user experience for its customers. This initiative will facilitate the recruitment, enrollment and engagement of users during energy-efficient battery pilots, such as the upcoming Mississippi Power project scheduled for the first quarter of 2024. Participants will have access to their usage data through the SmartThings app, thereby gaining control over their energy consumption.
Support for Smart Neighborhood Projects: SmartThings will provide support to Mississippi Power's Smart Neighborhood project through customer education, engagement and data analytics. This collaborative aims to showcase the potential of smart technology in creating sustainable, energy-efficient communities, while empowering residents to make informed decisions regarding their energy usage.
A Vision for the Future
Southern and Samsung SmartThings engage on this collaborative journey with a vision that includes sustainable energy practices, improved customer experiences, and a cleaner, more efficient power grid. This collaboration aims to transform the way consumers interact with their energy resources by leveraging the power of smart technology and innovative solutions, paving the way for a brighter, more sustainable future.
Conclusion
The collaboration between Southern and Samsung SmartThings marks a milestone in the realm of consumer energy management and smart-home automation. With a shared commitment to innovation and sustainability, these two industry leaders are poised to shape the future of energy consumption and grid management. They aim to empower consumers, lower costs, and reduce environmental impact through strategic initiatives and personalized solutions, bringing in a new era of smart living and sustainable energy practices.
Zacks Rank and Other Key Picks
Currently, SO carries a Zacks Rank #2 (Buy). Investors interested in the utility sector might look at some other top-ranked stocks like Essential Utilities, Inc. (WTRG - Free Report) and GDF Suez (ENGIY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), and E.ON SE (EONGY - Free Report) , holding a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Essential Utilities: WTRG is worth approximately $9.72 billion. It currently pays a dividend of $1.23 per share, or 3.45% on an annual basis.
Through its subsidiaries, Essential Utilities operates regulated utilities in the United States that provide water, wastewater and natural gas services. The company operates under two segments — Regulated Water and Regulated Natural Gas.
GDF Suez: ENGIY is an energy company that operates in both electricity and natural gas throughout the energy value chain, from upstream to downstream.
It currently pays a dividend of 3.22 cents per share, or 2.82% on an annual basis. In the past year, its shares have risen 10.5%.
E.ON SE: EONGY is the world's largest investor-owned energy service provider with operations in energy, chemicals, real estate, oil, telecommunications, distribution/logistics, aluminum and silicon wafers.
It currently pays a dividend of 41 cents per share, or 3.08% on an annual basis. In the past year, its shares have risen 22.6%.