Parks Associates Blog

Thursday, May 06, 2010

50% of U.S. households are interested in home energy monitoring

Home monitoring and controls companies will need to take alternate, more indirect routes to reach mass-market status, according to international research firm Parks Associates.

Almost 50% of U.S. households are very interested in an energy-monitoring device, with nearly 80% willing to pay $100 provided it saves 10-30% on their electricity bill. Energy applications are popular now because of the need for cost savings, but in the end, all home systems will need to be interconnected. By embedding their technologies into energy-related appliances and systems, controls and monitoring companies can get a foothold in the home and start to build traction on a mass scale with consumers.

Controls and monitoring companies can form strategic partnerships with system manufacturers, service providers, and utilities to build these inroads. Many utilities have smart grid programs, which have partnership opportunities, but the popularity of energy solutions has attracted new, nontraditional players. For example, Intel recently announced a sensor that monitors power usage throughout a home and shows the homeowner the amount of power used by different appliances and systems.

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