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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - SMARTHE (Smart Thermostat Ã‰volution)

Teaser

Summary

SmarthÃ© is a smart thermostat that is able to reduce the heating bill of residential households up to 40%. Thanks to Qivivoâ€™s unique algorithms, SmarthÃ© works completely autonomous and is the first thermostat in the market that manages the heating by optimizing the comfort of the inhabitants as a function of several variables. With a growing need of increasing the energy efficiency in the residential sector, the European smart thermostat market is set to boom: in 2019 almost 13 million units will be sold which represents a revenue of â‚¬2.3 billion.
SmarthÃ© is the natural evolution of Qivivoâ€™s current thermostat and its main new features will be enhanced learning algorithms and multi-zoned management. We have performed a Feasibility Study in which the viability of the project has been confirmed after reviewing all the relevant technical, commercial and financial aspects. It also has allowed us to define the work plan and to estimate the project budget, which will be mostly covered by the SME Instrument grant. After the execution of the project, Qivivoâ€™s new thermostat will be launched to the European markets.

Work performed

1. Technical Tasks. A working plan for the Phase2 has been elaborated with updated tasks for a period of 15 months. A multi-zoned management, upgraded algorithms and refurbished visualization platforms for stakeholders and end users are the main tasks to be executed.
2. Market Analysis: A very detailed market analysis have been performed showing that our solution has a huge market opportunity. Besides our home market (France) we will start deploying SmarthÃ© in UK, Netherlands, Germany, Scandinavia and Italy.
3. Partnerships: we already have a wide and stable network of stakeholders in France. We plan to duplicate this strategy at European level by contacting professional installers and agents from the public housing sector.
4. IPR analysis: No FTO arises within Europe regarding the uniqueness of our learning algorithms. Two patents for our SW are currently under revision.
5. Business plan: A strategy based in a gradual market introduction in different European countries has been planned. Different scenarios have been described in order to follow up the development of the sales. A conservative sales scenario forecasts a revenue of â‚¬100 million for 2022 (the 5th year of our solution in the market).

Final results

Thanks to SmarthÃ© Qivivo will become one of the European companies commercializing smart thermostats thus contributing to the increase of the energy efficiency in the residential sector. The economic benefits for the end users are key for the public housing sector which can be one of the most benefited.