Earlier this month, utility SaaS company Opower's IPO successfully opened on the stock market. The opening offer, 6.1 million shares at $19 per share, gave the company an estimated market value of nearly $1 billion.

Opower's success is driven by a simple goal: to motivate people to save energy. The company provides data-driven analysis for customers, using this information to compare each customer to his or her neighbors. Opower works with its 93 utility partnerships to provide this information to customers, numbering just over 32 million, inspiring "neighborly competition" to see if each household can effectively "beat" their neighbors at being more energy efficient month after month.

This service is key because it works within the current business models used by utilities. It also capitalizes on the rise of energy efficiency—utilities are feeling the struggle to maintain energy mandates from the government while also maintaining a bottom line. Opower is one of the first companies to really figure out residential efficiency and is currently pioneering behavioral demand response.

For more information on Opower's IPO or business model, click here. 

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