Industry report finds market opportunities for home energy management, residential battery storage, and solar solutions continue to grow

Parks Associates research reveals more than one-third of U.S. broadband households consider battery storage for their homes to be very valuable, although only 16% feel they are very familiar with this solution. The firm’s report Home Energy Management: Road to Net Zero notes the high value scores are encouraging, especially given that four out of five U.S. homeowners believe that having an energy-efficient home is important or very important.

Energy Products: Familiarity, Perceived Value and Affordability | Parks Associates

“Energy providers and solar industry players have an opportunity to build on consumer interest with new solutions that include high-efficiency appliances, equipment, and smart home energy products and services,” said Denise Ernst, Senior Analyst, Parks Associates. “There are also partnership opportunities with homebuilders, as these benefits can be baked into the home construction. Near-zero and zero-ready homes create more choice for consumers as these homes are now cost competitive to standard dwellings.”

Home Energy Management: Road to Net Zero provides an overview of market opportunities in zero net energy for energy management and solar industry players and analyzes the evaluations being made by builders in residential construction and the tradeoffs associated with different energy-efficiency investments.

“Consumers associate many benefits with an energy-efficient home: higher quality, healthier living, quieter, and more comfortable,” Ernst said. “In the smart home sector, smart thermostats, smart plugs and smart lighting offer energy savings as a primary benefit, but smart door locks, doorbells, and cameras can add to the energy usage of the home. The product vendors that can demonstrate energy reduction through Energy Star® certification and inclusion in building standards codes will be in a good position to compete and succeed in the zero net energy (ZNE) home sector.”

Additional research from the report includes:

  • Requiring enrollment in a DR program as a condition of accepting a rebate for higher efficiency products reduces purchase intention by 50%.
  • One-third of homeowners report having a monthly electricity bill less than $100.

Parks Associates is hosting Smart Energy Summit: Engaging the Consumer on February 18-20, 2019, in Austin, Texas. The conference features keynotes from Direct Energy and Nest/Google. Early sponsors include Bidgely, Tendril, Rapid Response Monitoring, Trusource Labs, and Austin Energy. Early registration ends December 14.

For more information about Home Energy Management: Road to Net Zero, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Julia Homier at julia.homier@parksassociates.com, 972-996-0202.

About Parks Associates

Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. Parks Associates provides custom research, strategic consulting, and forward-looking analysis across connected home, small business, and commercial markets, including security, smart home, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.

Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

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