Greentech Lead America: Annual shipments of standalone home
energy management (HEM) systems will grow from a quarter million in 2011 to
nearly 4.7 million in 2020.
Combined revenue for all HEM segments will grow from $93
million in 2011 to more than $2 billion in 2020.
Home energy management market has struggled in recent years
to gain traction. Trials have led to only a few cases of industry deployments.
HEM market shows some changes and expected to grow steadily over the coming
years.
“The home energy management market will make steady progress
over the coming eight years. It will be driven by government mandates, utility
programs, and a growing number of consumers looking to manage their energy
bills. Also, a combination of consumer desire to be more ‘green,’ home
construction and retrofits with energy management objectives, and new
technologies surrounding plug-in electric vehicles will help stimulate the
market,” said Neil Strother, senior analyst, Pike
Research.
HEM products can be viewed in five groups, or segments,
along a continuum that moves from paper bills, through standalone HEM systems,
which include some device-level tracking and automated device control
capabilities, up to networked HEM, comprising auto-pricing response
capabilities, demand response (DR) load control, and home automation controls.
Of these, networked-HEM revenue will see the strongest
growth with a CAGR of 76.8 percent, as utilities attempt to drive volume sales
of networked HEM systems in order to make DR and time-of-use pricing schemes
feasible.
editor@greentechlead.com