- The global installed base of home energy management (HEM) systems will grow from 4 million in 2013 to 87 million in 2022, a new report from Navigant Research projects. HEM market revenue worldwide is expected to rise from $300.7 million in 2012 to $1.8 billion in 2022.
- The U.S. market is currently "expanding at a slow but steady pace," according to Navigant. while the HEM market was expected to boom with the advent of the smart grid, this has not yet been the case.
- The cost, "perception of a long payback period" and "negligible" payoff are the biggest obstacles to widespread adoption of HEM systems, Navigant says.
New players like Comcast, Verizon, ADT and Vivint are making their presence known in what is expected to be a huge market going forward. The growth of home energy management systems is part of an overall trend towards empowering consumers to control their consumption. This should concern utilities as the move to a distributed grid could effectively leave them with a significantly reduced role. Energy service companies could become the utility companies of the future by managing customers' energy systems composed of mini-generators, rooftop solar panels and energy storage batteries.