Home energy management (HEM) is a hot topic for several good reasons: 1) Consumers want to reduce the amount they spend each month; 2) Utilities need to switch from a model of getting people to consume more to consuming less; and 3) Societies around the world need to put the brakes on unsustainably escalating use of fossil fuels.
HEM systems are appearing that attempt to satisfy these challenges. They are part of a broad trend of turning previously “dumb” products into “smart” ones that are connected to a network, aware of how they are being used, able to inform the user about their status, and can be controlled in new ways such as with a smartphone.
We are entering the “post-PC” era that will be defined by machine-to-machine communications (M2M) without user intervention (for example, a clothes dryer can autonomously determine when the cheapest time is to run and start itself).
In the next 5-10 years of this “Internet of things”, virtually any device over $20 will be connected to a network of some sort.
This new report aims to look behind the numbers to provide directions on how to avoid the pitfalls and be successful in the HEM market, including the topics:
- What’s the real revenue potential of the HEM market?
- How many households will have functioning HEM systems?
- What home infrastructure is required to make it useful to consumers and companies?
- What sort of energy savings will result from consumers being more aware of their useage?
- What paybacks will consumers see from installing HEM systems?
Download your free copy of the report to explore:
A look at the market – $3bn global revenues in 2014, 28m households in 2015, 3.7% of average US household income spent on energy
A look at the consumer – 15% savings from displaying energy consumption information, 30+ sensors required to make a HEM system meaningful, 2.5 years payback for home energy products and systems
The 4 potential routes to market