Canadian water technology firm Eddy Home recently introduced a smart meter that tracks real-time water usage in households and send warnings in case of water emergencies.
The innovation Eddy IQ learns a household's water usage patterns and monitors for even minor irregularities that could signal a small leak. In addition, homeowners can install Eddy H20 Sensors which track humidity and temperature trends and alert homeowners should flooding occur within the home from leaky faucets, running toilets, broken appliances or bursted pipes. Both products are monitored by a 24×7 Control Centre staffed with water management experts, offering around the clock protection.
Water conservation has been a hot topic in Canada for years and Eddy Home is being launched with a purpose, said Shawn Dym, CEO and Co-founder of Eddy Home.
Water damage is the single biggest source of homeowner property insurance claims, according to Masters Insurance, which serves the Ontario market. Frank Scarano, Director of Programs at Masters Insurance, said “We are very happy to see a smart water leak detection system like Eddy Home available to protect our customers' property”
If either the IQ or one of the H20 Sensors detects something unusual, an alert is sent to the homeowner via mobile app, text message, and email. If not at home, water can be remotely shut-off by any mobile device to avoid costly damage.
Taking the mobility feature one step further, homeowners can easily dispatch a preferred plumber from the convenience of the My Eddy Home app. To ensure homeowners are always protected, live customer support experts close the loop, and if necessary intervene and shut-off the water on the homeowner's behalf.
To make water management and conservation fun, Eddy Home gives prizes in the form of gift cards to award customers who complete special challenges, and conserve significant amount of water.
Often times the service pays for itself. According to Bentall Kennedy Forever Green, a leak of one drop of water per second wastes approximately 10,000 litres of water per year, which equates to about $509 a year. An average family of four can save up to $525 a year with Eddy IQ. Homeowners may also receive discounts on their annual home insurance policy from their home insurance provider.
The smart meter comes with a free installation, and a low monthly monitoring and service fee to ensure homes are always protected from water damage. Eddy home is currently available in Ontario, Canada and scheduled to be rolled out to the rest of North America in 2017.