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How Smart Home can fuel Energy Management

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A Home Energy Management System refers to any product or service that monitors, controls or analyzes energy in the home. With the advent of smart home technologies, home energy management becomes more automated and connected and has the potential to reduce energy consumption. As IoT becomes more ubiquitous, personal devices proliferate and new technologies come online, consumers are more aware and more actively participating in the management of their personal behavior and energy use patterns.

The potential for better energy management and energy savings is becoming more and more apparent with better integration of smart home devices and connectivity. This presentation gives an overview of the smart home and energy management landscape and market trends.

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How Smart Home can fuel Energy Management

  1. 1. Prepared by Emilie Jessula, Business Development Manager For PRIME Paris Region International Mission Enterprise May 2015 How Smart Home can fuel Energy Management?
  2. 2. Smart Home and Energy Management
  3. 3. 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)
  4. 4. …will become smarter
  5. 5. 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
  6. 6. Market Drivers Security is top reason for home automation Nonetheless, 78% of respondents ranked Energy Management as top features for smart home
  7. 7. 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 enabled Source: Park Associates
  8. 8. 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%
  9. 9. 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
  10. 10. 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
  11. 11. Outlook • Mobile and internet will play a more important role • Collaboration and cross-industry efforts will be crucial • Modernization of the energy grid
  12. 12. 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 marie-perrine.durot@parisregionentreprises.org For more info, contact Marie Buhot-Launay marie.buhotlaunay@frenchtechhub.com

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