New solutions-based business models are projected to transform the residential utility market
A new report from Navigant Research examines the evolution occurring in technology and customer-focused solutions for residential utility customers, analysing how traditional business models are being disrupted.
As the grid evolves into a cleaner, more distributed, and intelligent infrastructure, incumbent utilities are looking to deliver new customer-focused products and services. For some customers, developing a different relationship with their existing utility could provide the best solutions for their needs, while for others, the best option might be working directly with a new technology market entrant.
According to a new report from @NavigantRSRCH, new solutions-based business models and technology providers are expected to transform the residential utility market.
“The confluence of new distributed energy resources (DER) and smart home technology has created smarter, greener, and more resilient energy options for residential utility customers,” says William Tokash, senior research analyst with Navigant Research.
“These new solutions will revolutionise the way people interact with their homes while also extending the role that residential DER can play in the Energy Cloud.”
For utilities, solutions-based business models that rely on technology platforms offer new opportunities with the potential to scale faster and yield greater profit margins. For non-utility technology disruptors, the integration of smart home and home energy technology coupled with the rise of big data analytics offers opportunities to meet changing customer needs and the potential to partner with utilities for success.
The report, Maximising the Residential Energy Customer Experience with Emerging Solutions, examines the evolution occurring in technology and customer-focused solutions for residential utility customers. The study analyses DER, mobility, community energy, and smart home/home energy technology trends that are creating the need for new residential utility customer solutions.
It also discusses how traditional utility models for residential customers are being impacted, as well as the new customer segments and business models arising from these trends.