Samsung Takes on Home Energy Management

by Patrice Samuels | Aug. 31, 2020

On August 25, Samsung and NET2GRID announced a partnership that brings advanced energy management features to the smart home. The solution provides insights on energy use in the home along with tips to save energy. The energy monitoring solution will also leverage Samsung smart appliances, HVAC systems integrated with SmartThings, and the Ynni platform to facilitate behavioral and automated demand responseutility programs.

Since Q4 of 2018, smart home tech giants have put more focus on energy management.Amazon has invested in a Munich-based company that manufactures smart thermostats and AC controllers and provides energy-related services to consumers. Amazon also invested in ecobee (a manufacturer of smart thermostats and other smart home products) and partnered with Arcadia power to provide energy saving smart home device kits to consumers. Google Nest offers its Rush Hour smart thermostat solution that facilitates utility demand response programs. The company also has a relationship with Reliant that allows customer to see weekly energy usage and estimated electricity bills.

Energy monitoring is among the leading value propositions for smart refrigerators. Twenty-three percent of consumers who own or intend to purchase a smart refrigerator report that the tips for energy efficiency is among the top three most appealing features for the devices. Integrating this feature will improve the perceived value of Samsung smart appliances and put the product in a better competitive standing with competitors like LG and Dacor, which have both promoted the energy-saving capabilities of their smart refrigerators.

Companies attempting to engage consumers with energy efficiency tips and solutions must consider the following:

Ensure information is easy to understand: It is difficult to sustain consumer engagement with energy efficiency information that is complicated and difficult to understand.

Provide real-time information – information that is provided on a timely basis gives consumers a better chance to address issues or make impactful changes.

Automate energy saving actions – To maintain consumer engagement with energy efficiency solutions, the rewards must be worth the effort. Automating the energy saving actions of smart appliances dramatically reduces the effort consumers need to put into energy savings. While 23% of consumers rank energy-saving tips among their most appealing smart refrigerator features, 28% rank automatic adjustments to the appliance settings to minimize energy consumption as appealing.

These factors will help sustain consumer engagement with energy efficiency solutions and also help them to realize the true value of the product.

Parks Associates Quantified consumer report Consumer Demand for Energy Solutions provides insights on consumer interest in energy management products and services, including features, price sensitivity, and incentives for energy-efficiency solutions.

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