How Smart Home can fuel Energy Management
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Transcript of How Smart Home can fuel Energy Management
Prepared by Emilie Jessula, Business Development ManagerFor PRIME Paris Region International Mission Enterprise
May 2015
How Smart Home can fuel Energy Management?
Home Energy Management…
• Home energy use depends on • Building envelope • Intelligent management systems• Occupant behavior
• Home Energy Management = any product or service that monitors, controls, or analyzes energy in the home
• Global revenue from HEM systems will grow from $586.9 million in 2013 to $2.4 billion in 2023 (Navigant Research)
Smart Home Automation
• Smart Home technologies have the ability to control and adapt to internal and external environmental variables and take action with or without occupant intervention
• Smart home technologies have the potential to curb energy consumption by controlling• Indoor temperature• Lighting• Heating and ventilation (HVAC)• Appliances• etc
Market Drivers
Security is top reason for home automation
Nonetheless, 78% of respondents ranked Energy Management as top features for smart home
Market Trends
• 85% of consumers took energy-saving actions in the past year• 10% of U.S. broadband households already own a smart energy
device• only 14% of U.S. broadband households are currently familiar with
energy management products• 10 million smart thermostats, plugs, power strips and lights were sold
last year, valued at $850 million. By 2017, the market will nearly double to 19 million products worth $1.6 billion • 45% of all U.S. households will be served by smart meters by the end
of 2015, but only 10% of them will be 2-way communication enabledSource: Park Associates
Opportunities for Energy Savings
• Consumers could reduce energy usage by 10-30% using schedules and temperature settings of programmable thermostats.
• Since October 2011, Nest customers have saved more than 1.4bn kilowatt-hours, enough electricity to power more than 135,000 US homes for a year. • But based on a household’s total gas and electricity, energy was
reduced by only 2-8%
Barriers & Challenges
• Consumer behavior• Lack of consumer awareness• High implementation costs• Complicated installation• Data security and privacy• Lack of interactive connection with the
energy grid• State regulation
Technology Landscape
Customer Engagement Customer Analytics App
Home IoT software platform
Gateway
Home Hardware
Data management
Service Providers
For full landscape see: Greentech Media Research, Energy in the Connected Home
Outlook
• Mobile and internet will play a more important role
• Collaboration and cross-industry efforts will be crucial
• Modernization of the energy grid
About PRIME & French Tech Hub
PRIME is a transatlantic innovation platform promoting the Paris region as a center of innovation and engaging in activities to encourage and incentivize American companies and organizations to invest in the Paris region. PRIME is a subsidiary of the Paris Region Entreprises
French Tech Hub serves as the U.S. Hub for entrepreneurial and innovative French companies. We provide custom-tailored services to help our clients strategize, launch, expand, and achieve their business potential.
For more info, contact Marie-Perrine Durot [email protected]
For more info,contact Marie Buhot-Launay [email protected]