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Feb 12, 2019

65% of smart thermostat owners interested in dealer service that performs system cleaning and preventative maintenance on equipment

Industry leaders to address revenue potential of new energy related services at 10th-annual Smart Energy Summit

Research from Parks Associates finds 65% of smart thermostat owners are interested in a dealer service that periodically cleans and performs preventative maintenance on their HVAC equipment. Parks Associates’ 10th-annual Smart Energy Summit: Engaging the Consumer will feature sessions that explore the crossover appeal and revenue potential of new services when bundled with smart energy home services.

 Smart Thermostats: Appeal of Dealer Services 

The event will take place February 18-20 at the Omni Austin Hotel Downtown in Austin, Texas, and conference sponsors include Bidgely, Tendril, Rapid Response Monitoring, Powerley, Trusource Labs, Alarm.com, ecobee, Austin Energy, GiftCard Partners, Intel, STRATIS, FLO, Grid4C, and Inspire.

“Connectivity, data analytics, and convergence of ecosystems within the home create opportunities to expand traditional services and realize new revenue streams, which is driving many vertical industries to transition from a product company to a services company,” said Elizabeth Parks, President, Parks Associates. “Many new services, paired with smart home solutions, include installation and technical support, maintenance and repair services, remote monitoring for various uses cases, and network security, creating numerous possible recurring revenue opportunities and potential operational savings.”

During the session “Evolution of Energy Management in the Smart Home,” 10:45 a.m., Wednesday, February 20, speakers discuss the multiple product categories active in the home and how crossover use cases can lead to new and valuable energy management scenarios:

  • Abigail Daken, Environmental Engineer, EPA ENERGY STAR
  • Felicite Moorman, CEO, STRATIS IoT
  • Dain Nestel, Director, ecobee
  • Zach Schroeck, Director, Product Management, Lutron
  • Paul Williams, GM Product Management & Growth, GE Lighting

“Energy management should be about automation, especially for residents without an incentive to purchase their own hardware," said Felicite Moorman, STRATIS IoT's CEO. "Improvements in computing power, economies of scale in consumer IoT, sophisticated software, and decreased costs of installation have enabled our ability to apply 'smart' in new and meaningful places, such as multifamily. The smart apartment space is about to graduate from smart locks to full-IoT, with smart devices leading the way.”

“Consumers will be more likely to adopt smart home products when they are viewed as problem solvers and not gadgets,” said Zach Schroeck, Director, Product Management, Lutron. “Reducing energy consumption is an important factor to consider when building a smart home. For example, the Caséta by Lutron smart lighting system has a ‘smart away’ feature that randomizes lights to mimic occupancy, eliminating the need to leave lights on 24 hours a day while you’re away. The system also recognizes when you’ve left the home but left lights on, notifies you, and gives you the option to turn them off. It’s problem-solving features like these that help reduce energy consumption and lead to more widespread adoption of smart home products.”

“Energy partners can help consumers become more active in the smart home space by giving them a reason to place smart home products in their homes—a reason beyond energy savings. While saving energy and money is ideal, it’s not the only driver for converting to a smart home,” said Paul Williams, GM Product Management & Growth, GE Lighting. “Today, smart home technology can help homeowners save both energy and time and can offer several conveniences—all which can be personalized to their liking. Just imagine a home where the lights are off at a set time because you scheduled them this way, or lights that come on because you entered the room, or lights that remain off because they detected enough natural light, or lights that respond to the simple command of your voice. Today, smart homes can help consumers to do more, be better, and thrive.”

The 10th annual Smart Energy Summit will feature more than 250 high-level executives in an intimate networking environment. The agenda includes keynotes, presentations, and speaker panels from experts in energy management, with discussions on current technologies and consumer research. Keynotes include:

  • Leah Barton, VP & GM, Home Protection, Direct Energy
  • Aaron Berndt, Head, Central Region Energy Partnerships, Nest / Google
  • Erika Diamond, VP, Utility and Market Services, EnergyHub
  • Steve Hambric, VP Consumer Energy Management, Itron
  • Adrian Tuck, CEO, Tendril

About Smart Energy Summit

Smart Energy Summit: Engaging the Consumer addresses the evolution of the consumer utility market, the impact of COVID-19 on energy management programs, and new opportunities to drive engagement in utility-sponsored programs. Virtual panels and networking sessions, featuring executive-level experts from multiple industries, address strategies for utilities, service providers, retailers, software providers, and manufacturers to expand and monetize energy management and other energy-focused offerings through consumer engagement, new business models, unique partnerships, and innovative technologies.

Smart Energy Summit features an in-person conference February 13-15 at the Omni Austin Hotel Downtown, with virtual sessions on June 15, August 17, and November 9. The summit agenda features leaders from utilities, state and national regulators, telecom and security companies, retailers, and OEMs. Follow the event on Twitter at @SmartEnergySmt and #SmartEnergy23. For information on speaking, sponsoring, or attending Smart Energy Summit, visit www.smartenergysmt.com.