Parks Associates' ongoing assessment of the Residential Energy Management (REM) market includes extensive primary consumer research to determine and monitor the mindset of consumers and their motivations when adopting REM solutions. Parks Associates' latest REM research reveals 80% of U.S. consumers invested in some form of energy-saving home improvement for their current home.

Consumers made these home improvements not only to save money but also to enhance their lifestyle. In fact, 65% of people investing in energy-saving home improvements did so to make their homes "more comfortable". This is an important point for those marketing energy management solutions: consumers want savings, but they will also spend on energy solutions to improve the overall comfort level, aesthetic, and value of their home. Companies should take all these considerations into account when deploying and marketing REM solutions, in addition to the other digital systems and devices operating in the home.

Consumer awareness of "smart grid" and "smart meter" continues to be persistently low; however, consumer demand for energy-related solutions is moving higher. Current smart grid marketing efforts will help continue this momentum. Utilities and smart grid technology developers have already implemented some marketing strategies in order to introduce and educate consumers to the concept of smart meters, smart grids, and their impact.

Given the players entering the market ready to undertake these strategies, combined with the strong demand from consumers, Parks Associates forecasts rapid growth in the REM market over the next few years. The percentage of U.S. households with some form of energy management network will rise from 2% in 2011 to 13% by 2015.

Over the next five years, the REM market will include more entrants with new technology solutions, growing consumer awareness of benefits and value, and significant growth in sales volumes.

To read more, click here to read the full article by Stuart Sikes, President of Parks Associates on Fierce Smart Grid.