WattzOn was a featured presentation at the Clinton Global Initiative – North America conference this past Tuesday. WattzOn and its partner, The El Monte Promise Foundation, spoke about a new initiative to help families save energy at home, and transfer those energy savings to a college savings account.
“Our commitment, featured at the closing plenary session of the CGI conference, is a unique opportunity to connect the dots, enabling families to save energy and deposit the funds into an emotionally meaningful college savings account. In addition, our technology platform will enable multiple households to provide deposits to a single bank account, creating a tangible network for support for the college-bound student,” said WattzOn’s CEO, Martha Amram.
“We are delighted to partner with the El Monte Promise Foundation, and to work closely with their team provide easier access to energy savings, bank accounts and asset creation. As part of our two-year commitment, we invite other communities and cities to join in the conversation, so that we might replicate this offering across the U.S.”
The remarks presented by Martha Amram, and Norma Garcia, Board President, The El Monte Promise Foundation, provide more program detail:
“Good afternoon, I am Martha Amram. At WattzOn, our software tools help families gain control over their energy spending through personalized data about their usage, tips for good habits, and awareness of cost savings potential.”
“And I am Norma Edith Garcia. At the El Monte Promise Now Foundation, we work to close the educational achievement gap for immigrant and working poor families in El Monte, California and neighboring communities by developing partnerships among governments, school districts, businesses, and families to help prepare students for college.”
(Amram) “For low- and middle-income families, the monthly utility bill takes a disproportionate bite out of monthly income. Families with annual incomes below $30,000 spend over 11 percent of their income on home energy costs – a rate that is three times higher than the national average. We also know that these same families find it nearly impossible to pay for their children to go to college. That is why we are here today to announce our new commitment — Transforming Energy Savings into College Savings. Through our unique partnership, we will enable families to transfer their utility bill savings into a college savings account.
(Garcia) “Even modest utility bill savings of $15 to $20 per month deposited into a college account make a big difference in families’ mindsets about their children going to college. And El Monte will match families’ deposits between $2 and $6 per month as well as provide college-readiness support services. WattzOn will provide the technology and energy-savings know-how. Together, we will enroll 300 households in the program over the next two years. With a college education increasingly out of reach for so many families, this public-private partnership is a unique opportunity to blend environmental awareness,technology, family budgeting, and financial support in helping more low-income students go to and graduate from college.”
About WattzOn:
WattzOn provides utility data connections, energy analytics and mobile web tools that help people and communities save energy and money. With national utility coverage – 90% of US homes – WattzOn has a unique platform that helps communities across the country serve their residents, and helps business partners provide a single user experience in multiple locations. WattzOn’s mobile web app is a white-label SaaS offering that provides communities an immediate software platform for energy savings, and the detailed reporting needed for data-driven program management. WattzOn serves customers across the U.S., with a strong track record of consumer engagement and energy savings. Learn more at wattzon.com
About The El Monte Promise Foundation:
El Monte Promise Foundation is a non-profit organization that helps prepare students for college at an early age. Our foundation brings key people and organizations together so our partners can coordinate systems, resources, and activities to benefit El Monte students’ education. El Monte Promise Foundation is focused on making population level change by institutionalizing and strengthening partnerships between local government, multiple school districts, colleges, businesses and families in the El Monte region. Learn more at https://promisenow.org/.
About the CGI:
Clinton Global Initiative (CGI) America brings together leaders from the business, philanthropic, nonprofit, and government sectors to develop solutions that encourage economic growth, support long-term competitiveness, and increase social mobility in the United States. CGI America’s annual convening is designed to be a working meeting that promotes collaboration. Each CGI America participant makes a Commitment to Action: a new, specific, and measurable plan that supports increased economic growth and opportunity. To date, CGI America participants have made more than 500 commitments, which have improved the lives of nearly 2.4 million people. Learn more at https://www.clintonfoundation.org/clinton-global-initiative/.
