Research firm SmartEnergy IP has released a new whitepaper analysing factors driving the market for utility smart home solutions.
The whitepaper Customer Preferences Dictate the Future of Smart Home Business Models: Exploring the Role of Smart Home in the Utility of Future Business Model, is based on a survey of 6,000 customers across the US.
The study has found that “cool” and “energy savings” are the two major drivers for consumer interest in the smart home.
Key findings of the paper include:
- While “the cool factor” drives interest in smart home, energy reduction solutions top the list of motivators to buy.
- Customers aged 35-54 prefer bundled solutions.
- The majority of customers expect smart home solutions from their utilities.
- Smart Home is the natural next step in AMI Investment.
Juliet Shavit, President of SmartMark Communications and Founder of SmartEnergy IP, said: “We are embarking on a new chapter for utility energy efficiency programs and smart grid investments. It is the separate, but equal forces at play that will lead to sustainable energy reduction.
“The natural next step to optimizing AMI investments is to understand the role of the smart home in the smart grid.
“As an industry we have already established the role technology automation plays in reliability, safety and efficiency. We must no longer overlook home automation and the role customers play in long term grid modernisation and offer them the tools that they need to take control of their energy use.”
Customer surveys were conducted between November 2019 and ending in August 2020.
The survey is available for download at smartenergy-ip.com.