Published on 05/30/2017 | Market Sizing
The consumer electronics and energy markets have reached a signi cant in ection point as a result of new devices and smart grid networks. Programmable communicating thermostats (PCTs) and other “smart home” technologies are becoming readily available from retailers such as Best Buy and Lowe’s. Consumers can install PCTs and control them remotely using a smart phone, tablet or computer.
Thanks to increasing media attention and the work of climate activists, consumers are more aware of the impact of their energy usage on the environment. Many are looking to use energy more ef ciently in order to reduce that impact as well as to save money. Shipments of PCTs that consumers can control via smartphone and tablet are projected to quadruple by 2017, driven by high demand in North America, according to IMS Research. The rm estimates that 1.9 million such thermostats will ship in 2013, a 46 percent jump over 2012.
This is good news for utilities. Rising demand for PCTs makes it clear that there’s growing consumer acceptance of energy management. Customer-owned PCTs also represent a potential new demand response (DR) resource that utilities can call upon to curtail peak demand. Utilities that get out in front of this trend have the opportunity to bring customer-owned PCTs into their portfolio of DR programs and increase the value of their relationship with customers.
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