Social networks like Facebook and Twitter are great for staying in touch with friends, but how about one that helps companies cut costs? This month’s Nightly Business Report segment looks how new networking technologies similar to those used in social media are applied to help businesses save big money on electricity by managing energy consumption.
Here’s how it works. Utilities pay Enernoc for the networking service and for any energy it saves. Enernoc then shares the revenue with the building owners. Together, they reduce energy consumption and make money.