New Parks Associates industry reports show that emerging revenue opportunities exist for utilities and providers within the smart home and home energy management markets. The reports emphasize that increased consumer adoption (and therefore increased revenue) will occur as utilities, providers, and smart home vendors find valuable partnerships within the smart home space.
In Leveraging the Cloud for Home Energy Management, the research firm notes that, of the 160 million meters in the U.S., just over 30% have been upgraded to smart meters. This presents a huge opportunity for utilities, as upgrades to more advanced meters mean more meaningful data for utilities. This data can then be monetized to enhance the traditional utility business model, resulting in new revenue opportunities.
In Leveraging Partnerships to Deliver Home Energy Management, Parks Associates analysts highlight the importance of industry professionals finding opportunities to work together. Partnerships exist outside of utilities and smart home vendors—OEMs, builders, and even electric vehicle manufacturers can benefit from energy efficiency, demand response, and load forecasting programs.
For more information on these reports, contact Parks Associates via email.
