Tuesday, August 03, 2010

Parks Associates forecasts energy management networks will be in over 9 million U.S. households by 2014

Majority of energy management systems will be independent residential energy management networks (iREM Nets)

The emerging market for energy management services, built on remote access and control via broadband, is creating new opportunities outside the utility industry for manufacturers and service providers looking to leverage consumer interest in energy savings, according to international research firm Parks Associates.

The firm’s report Residential Energy Management: Forecasts for the Deployment of AMI and the Adoption of Energy-saving Products and Services finds over 80% of U.S. consumers are interested in reducing expenditures on energy consumption and willing to pay for cost-saving solutions. Cost-saving products and services that generate consumer interest include programmable thermostats, energy monitors and systems enhanced with energy-management capabilities, smart appliances, and energy-efficient CE systems.

Parks Associates Adoption of HANs and iREM Nets Chart

However, the amount consumers are willing to spend does not cover the costs of required systems, creating a need for innovative business models that will enable a new energy management service industry.

“Utility-based home area networks (HANs) are only one of several options for these solutions and services to enter the consumer market,” said Bill Ablondi, director, home systems research, Parks Associates. “By 2013, iREMs will outnumber utility-based HANs. By 2014, the vast majority of the nine million U.S. households with an energy management system will have an iREM. Engaging consumers is critical to success in this market. Business strategies must be developed that comprehend the magnitude of consumer education and support required for offerings in this arena.”

Forecasts for the Deployment of AMI and the Adoption of Energy-saving Products and Services provides detailed forecasts for REM solutions. It features analysis of the market for solutions that work within HANs as well as those within iREM Nets. For more information, visit http://www.parksassociates.com or contact 972-490-1113, sales@parksassociates.com.

Parks Associates is hosting Smart Energy Summit: Engaging the Consumer on January 24-26, 2011, with keynotes from George Arnold, National Coordinator for Smart Grid Interoperability, National Institute of Standards and Technology, U.S. Department of Commerce, and Andres Carvallo, EVP, Chief Strategy Officer, Grid Net. This event is the premier conference studying the market for residential energy management and smart grid technologies. www.smartenergysummit2011.com

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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