Acacia Money, a financial platform and marketplace that connects consumers with financial and energy options that are genuinely sustainable and financially rewarding, has extended its offering to provide users with in-depth and independent insight into how their energy provider stack up financially and environmentally.
Acacia has integrated data and research behind Greenpeace’s Green Energy Guide, allowing users to easily compare their current energy plan against an open menu of electricity providers.
Through the Acacia app, users can upload an energy bill and within seconds view their current provider’s climate credentials alongside the financial benefit of switching plans.
Acacia has connected with Accurassi’s energy services to enable financial cost analysis, and work is now underway to extend the service to estimate and track the household savings of switching to solar. The platform will also connect users with solar product and financing options.
Acacia founder and CEO, Anil Sagaram, said: “We know that Australians are now actively making changes to embrace greener products and services with almost a third of voters citing climate change as the most important issue in the recent election.
With the recent re-pricing in the energy markets many people have received updates from their energy providers regarding price changes and it’s a good time to consider both the financial and environmental costs of current arrangements.
The price increases are making solar increasingly attractive and we are now working to enable access to solar products and financing via Acacia’s platform.”
“We pride ourselves on presenting an independent and objective view to our clients and we are thrilled to amplify the impact of the Greenpeace independent research via Acacia’s open architecture platform.
Extending on the platform’s existing banking, super, and sustainable spending tools, the new energy solution furthers Acacia’s goal of connecting consumers with options that are genuinely sustainable and financially rewarding, becoming a trusted source of independent information. The app is the first of its kind to use open banking and data analytics to optimise consumers finances from both a financial and an environmental viewpoint.
Today, around 76 per cent of Australia’s electricity still comes from the burning of fossil fuels and Australia has the highest greenhouse gas emissions from coal power in the world on a per capita basis. With 28 of the 48 providers rated 3 stars or below by Greenpeace, it is clear there is much more to be done for electricity providers to take action to combat the climate crisis.
Within the app, users can share their latest energy bill data to be offered new plans that showcase how much they could save per quarter and their green rating. The system factors in each energy provider’s carbon emissions, reliance on coal and overall climate impact. The extension of the Consumer Data Right later this year will further simplify the process for energy data sharing via the platform.
The Acacia App is available for download now for iOS and Android.