Itron, Inc.(ITRI) has introduced the green button functionality for the electricity customers by making it a standard feature in its energy data display software. The customers can now download the information on energy usage procedure and cost efficiency data just by clicking the green button. With the introduction of this facility, Itron is now among the first technology providers of green button.
The green button initiative intends to give the electricity consumers their own usage data clearly and simply. In addition, it provides customers with valuable information on ways to manage and control related to energy consumption.
The green button, backed by the White House mandate, follows the consensus industry technical standard. It has been assisted by the Smart Grid Interoperability Panel, a public-private collaboration, with the National Institute of standards and Technology acting as the lead federal entity.
This initiative is expected to be welcomed by the electricity users to make sustainable consumption of energy. The measure would be particularly helpful to non-renewable sources of energy which once depleted are no more available for future use.
Earlier in December 2011, Itron began supporting the green button functionality through its customer care software product. Among the utilities of Itron, San Diego Gas and Electric was the first utility customer to provide the green button to its customers.
Itron faces tough competition from a large number of companies offering similar products, systems, and services. Some of its well-known competitors include General Electric Company (GE), Cooper Industries Ltd. (CBE) and Badger Meter Inc. (BMI).
Based in Liberty Lake, Washington, Itron Inc., along with its subsidiaries, is one of the principal technology providers to the energy and water industries worldwide. It produces electricity, gas, water, and heat meters, data collection and utility software solutions along with various other associated metering products for residential, commercial and industrial (C&I), and transmission and distribution (T&D) customers.
The company has two reportable segments: Itron North America (mainly comprising the United States and Canada) and Itron International (primarily comprising Europe, South Africa, South America and Asia-Pacific).
Currently, we have a Neutral recommendation on Itron, which is backed by a short-term Zacks #3 Rank (Hold) recommendation.
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