New software from Microsoft, Hohm, is a free web-based tool that you can use calculate how to save on energy costs in your own home.

Defined:

Microsoft Hohm is a free web based application (running on the Windows Azure platform) that enables consumers to better understand their energy usage by utilizing advanced analytics licensed from the Lawrence Berkeley National Laboratory and the U.S. Department of Energy to provide home owners with personalized energy-saving recommendations.

See this video for a better explanation (warning: it’s 23 minutes long but worth the watch).

This is good stuff, especially if you’re looking to cut energy costs.