5G and the Utility Market - Insights from Sprosty Network

by Parks Associates | Feb. 12, 2020

Rand Bailin, Partner at Sprosty Network, will be participating in the Smart Energy Summit session, Energy Data and the Smart Home: Enhancing the Customer Relationship on Wednesday, February 19 at 10:45 am. This session addresses how access to high-frequency energy data enables multiple value-added services, including those that can be monetized as a service to consumers and those that can serve partners as lead generation tools or as part of a broader home warranty service. Joining him on the panel are:

Justin Berghoff, Director, Business Development & Product Management, Leviton
Troy Morgan, CEO & Founder, PanTech Design
Daniel Roesler, Co-founder & CTO, UtilityAPI
Katie Shrewsberry, Founder, EcoCred, Exelon

Ahead of the Smart Energy Summit, we asked Rand to share his thoughts with us on energy management platforms and the impact of 5G on the utility markets.

How are energy management platforms adding value (i.e. user experience, data analytics)?
Smart home platforms are designed to aggregate any number of connected products to establish individual in-home controls and drive learnings around typical behaviors. The growth of connected home devices is designed to do 2 things – increase customer interaction and engagement with technology in home AND shift to control energy usage in homes to save money. The goal of the platform is to provide an interface directly to the consumer through a personally controlled mobile application. Mobile apps not only empower customers to virtually control their homes, but also help energy companies establish relevancy with connected customers, drive better engagement loyalty, create new and different channels to serve customers, leverage data from the home to tailor offerings of new, accretive products, services and experiences to enhance the customer relationship and provide insights to customers to help decrease energy consumption and improve efficiency in the home.

Data is the foundation for customers to better affect the connectivity of their individualized smart homes by understanding their own energy consumption data. The convergence of energy management and the smart home creates an aggregated Platform-as-a-Service opportunity that broadens and unifies the customer experience across channels and markets with Smart Metering, diagnostics and analytics driving an interactive user experience.

What is the impact of 5G on the utility markets? How does it impact the consumer?
The introduction of 5G has the potential to drive significant changes for Utilities and their customers. Initially, 5G will find its way into the commercial and industrial markets where 5G networks will most likely be deployed first driven by specific vertical market applications. As 5G networks get deployed more broadly to support consumers and their homes, Utilities will have access to information and in some cases the ability to control things behind the meter at the device level. In both cases, for Utilities, it will require them to embrace big data and AI to create experiences that benefits the consumer such as savings and convenience. 5G also has the potential of creating opportunities to drive deeper savings around HVAC and providing smart home energy management as a service eliminating the need for customers to own and manage their own smart home controllers (aka the “Hub”) delivering the ultimate home peace of mind experience.

The eleventh annual Smart Energy Summit will take place on February 17-19, 2020, at the Omni Downtown in Austin, Texas. The event addresses the new approaches and solutions that are using connectivity and data to transform how energy is delivered. For more information on the upcoming Smart Energy Summit, visit www.ses2020.com.
 



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