In a Smart Energy International article, Navigant Research discusses new home energy management technology and changing customer expectations
In the mid-2000s, home energy management (HEM) was a useful addition to early smart meter deployments. Since then it has transformed into a broader set of products and services for customers.
In a Smart Energy International article, Navigant Research’s Neil Strother, principal research analyst, discussed how the changing HEM market is impacting utilities and what challenges remain.
According to the article, new types of hardware and services including smart thermostats, residential lighting products, smart appliances, smart plugs, and more are allowing consumers to more easily manage their energy consumption, but are forcing utilities to rethink their approach to HEM and their customers.
“Utilities can no longer operate from the old-school mindset of centralized energy distribution,” Strother said. “Many utilities have adopted (or are in the process of adopting) a much stronger customer-centric model.”
Some challenges also remain for wider HEM solution adoption, including longer testing and deployment time, lengthy trials for new solutions, higher price points, and a lukewarm demand in the marketplace. However, despite these challenges, Strother anticipates a growing market.
“As the HEM market has shifted to a broader set of solutions, utilities and vendors have adapted to the demands of residential customers,” Strother said. “Stakeholders should note these trends and continue to innovate and integrate the HEM hardware, software, and services that drive adoption and help people lower their home energy costs.”