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GE, Best Buy Partner On Energy Management

6/23/2011 11:02:11 AM Eastern

Louisville, Ky. - GE and Best Buy
are collaborating on a series of energy-management systems and products for the
home.

Beginning early next year in select
stores, Best Buy will begin selling GE's first smart appliances, which can vary
their operation based on real-time electricity costs, and the manufacturer's
Nucleus Energy Manager, a $149 communication and data-storage device that
provides consumers with information about their household electricity use and
costs.

Best Buy will also begin carrying
GE's Energy Smart line of LED light bulbs later this year in select stores, and
will work with the manufacturer to fast-track two GE-supported technologies --
a VPhase home energy control device and a Suntulit air conditioning control
system -- for retail testing in the future.

The technologies are being developed
under a $200 million GE Ecomagination Challenge program of investments and
commercial partnerships funded by GE and several venture capital firms.

 "At Best Buy, we are committed to bringing new
technologies to market, and we praise GE's Challenge as a groundbreaking way to
accelerate new energy technologies to the marketplace," said Neil McPhail, senior
VP of the retailer's new business customer solutions group. "We look forward to
working with GE and the Challenge winners to bring the latest technologies to
consumers and encourage consumers to use technology in ways that help them save
money and live more efficiently."

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