4 in 10 Thermostats Sold in the U.S. This Year Will Be Smart, Says Parks

More than 40 percent of the 10 million thermostats forecast to sell this year in the U.S. will be smart, said a Parks Associates blog post Wednesday. Smart thermostats will account for more than half of the total market by 2017, it said. "Smart thermostats already account for more than one-half of the smart home devices in U.S. broadband households," said analyst Tom Kerber, citing utility programs that have employed smart thermostats as part of energy management initiatives. Utilities and other energy service providers are developing strategies to leverage the big data from smart thermostats and other smart home devices for their demand-response and energy-efficiency programs, said Kerber. "The cost of heating and cooling a home accounts for as much as 50 percent of the overall utility bill." Leveraging data from smart thermostats can help consumers cut energy use and meet energy efficiency goals while enabling energy providers to “monetize the mountain of data derived from both smart meters and smart devices," he said. Retail sales of smart thermostats are growing, too, Kerber said, accounting for most of the units sold last year. Retailers such as Best Buy, Target and Walmart are increasing their smart thermostat offerings in the smart home category, including designating dedicated space to demonstrate products and build consumer awareness, said Kerber.