Purpose of Report:
This report provides an overview of home energy management solutions and opportunities enabled by smart products, smart home systems, distributed residential energy generation, and residential energy storage. The aim of this report is to provide an updated framework for industry players that are primed to take action in a market area that has great potential for consumers, utilities, and integrators alike. Various functional products in the connected home space are vying for access to data that describes customer behavior, and data regarding energy usage in the home is rich and complex. Although the average customer may not be aware of the necessity or value of energy management at the current time, the convergence of industries around cloud-based energy data in the connected home is underway. This report presents a comprehensive overview of energy management solutions enabled by connected products and systems to the executive who is developing market strategies for products and services in this arena.
Scope of Report:
The home energy management market has been in development for years, but mass-market adoption is not yet widespread. There are many industries that could contribute to a solution for the mass market that drives customer control, increased conservation, and reduced cost. This industry report profiles developing products and services that intersect as parts of a complete solution for both the connected consumer and infrastructure providers. Various perspectives are considered on the leading edge of home energy management systems (HEMS), providing the reader with viewpoints that indicate where the ecosystem is headed. The opportunities of working in tandem are explored, and challenges to cooperation are noted.
This report is designed for executives of companies in the residential technology space. Various industry perspectives captured in this report illustrate recent history, current opportunities, and continued evolution over the next five years. By looking at how other leaders across the residential technology landscape approach the problem, the informed reader can develop clearer pathways to provide unique solutions, disrupt, and differentiate.
Residential customers today see energy as a commodity, a necessary expense that varies only under extreme conditions. Companies that succeed in driving consumer value will build a customer facing solution that solves problems, educates, adds financial value, and deepens the customer relationship. Today, energy management is not the driver of the connected home. The changing environment of energy production is an eventuality, and companies who are ahead of the curve can profit when this value-added service becomes a revenue generator.
Key Questions Addressed:
- What are the challenges to mass-market adoption of connected home energy management systems?
- What does the energy managed home of the future look like?
- How are smart products and data analytics changing the home energy management landscape?
- How will the trends in residential solar energy and storage markets effect the energy market?
- How will home energy management systems evolve as distributed generation adoption increases?
- How will monetization models change to take advantage of market opportunities?
- What are the competitive advantages for different channels with potential home energy management systems or solutions?
1.1 Purpose of Report
1.2 Scope of Report
1.3 Research Approach/Sources
1.4 Key Questions Addressed
2.0 Consumer Drivers of Energy Management
2.1 Conservation / Energy Independence
2.2 Cost Avoidance / Return on Investment
2.3 Convenience, Protection and Comfort
3.0 Technology and Policy Drivers of Energy Management
3.1 Disaggregation3.2 Energy Modeling
3.3 Solar Technology
3.4 Distributed Generation Policy
3.5 Battery Storage Technology
4.0 Business Model Drivers of Energy Management
4.1 Utility Demand Response Programs
4.2 Pricing-Based Demand Response
4.3 Energy Market Participation
5.0 Industry Drivers of Home Energy Management
5.1 Energy Utilities
5.2 Retail Energy Providers
5.3 Smart Home / Security Providers
5.4 Smart Thermostat Manufacturers
5.5 Distributed Generation and Storage Industry
5.6 Comprehensive Energy Management System Integrators
6.0 Evolution of Home Energy Management Solutions
7.1 Forecast Methodology and Assumptions
8.0 Implications and Recommendations
9.3 Image Sources