Energy-Based Smart Homes Can Create Revenue for Tech, Service Providers, Says Report

The smart home will create new revenue streams for technology and service providers, drive efficiency and convenience for homeowners, and help address climate change goals by reducing the carbon footprint within the built environment, Navigant Research reported Tuesday. Analytics and automation are making the smart home a “dynamic asset for orchestrating how power is generated and used through automated devices and systems,” said Navigant analyst Casey Talon. Coordinating major energy-consuming systems such as air conditioning and hot water heating with distributed energy resources including solar, storage and energy efficiency measures will “maximize the value of a smart home in the Energy Cloud by offering demand flexibility into the grid,” said Talon. The market research firm recommends that architects, designers and developers use building information modeling; OEMs enhance solutions with digital capabilities; service partners explore partnerships with digital technology and OEMs; and utilities develop partnerships “for a stake in the smart home market.”