Friday, 30 January 2015
Last updated 4 hours ago
Oct 30 2009 | 9:44am ET
Whirlpool Corp has received $19.33 million in grants from the U.S. Department of Energy (DoE) to develop smart residential appliances.
Smart appliances allow customers to schedule energy use for off-peak times, lowering consumer costs and reducing peak electricity demand.
Whirlpool markets appliances under the brand names Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul and Bauknecht. The appliance maker expects to have 1 million smart-grid compliant dryers ready for sale by 2011.
Whirlpool will receive its funding over a two-year period, and plans to match the funds. By 2015, the company says it will no longer manufacture “dumb” appliances, a promises that hinges on two factors.
“This commitment is dependent on two important public-private partnerships: the development by the end of 2010 of an open, global standard for transmitting signals to, and receiving signals from, a home appliance; and appropriate policies that reward consumers, manufacturers, and utilities for using and adding these new peak-demand reduction capabilities,” Whirlpool said in a statement.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…