One of the consequences of the installation and use of smart meters is that it opens up opportunities for a smart connected home. According to research from ON World, this energy-related Home Area Network (HAN) market will be worth $3.3bn globally by 2014.
There are a lot of companies looking at the possibilities in this market, built around a home energy hub that can control energy consuming devices and also potentially integrate with cloud/internet services.
ON World surveyed 600 early adopters in five continents to get some insight into consumer attitudes to green homes, energy products and services, smart meter control, home automation, real-time energy data and other topics. The headline findings from the survey show that:
Almost 60% are interested in adopting new technologies for home energy management
Over 80% would be willing to pay for energy management equipment if they could achieve 30% energy savings.
Respondents are willing to spend up to $150 on home energy equipment, although there are differences between the US, UK and Australia.
In the US, utility HAN pilots are underway in nearly every state and advanced energy saving programs are being developed by the majority of utilities and energy retailers across the country. But the growth of the market depends on the development of HAN technologies and standards, as well as collaboration among utilities, regulators, Advanced Metering Infrastructure (AMI) vendors, device manufacturers and home energy service providers.
While the initial focus is energy management, developers are offering hybrid HAN products and services that go further, with services that incorporate other capabilities, such as home security and control systems.
I quite believe the $3.3bn figure, but that’s during the time that smart grids are being built out. Once consumers really see the potential of smart meter, both in energy management and other capabilities, this market is going to get a lot bigger. Which is why so many companies are angling for a slice of the action.