Navigant Research has issued a new report exploring how smart homes will influence innovation in the built environment.
The report states that smart homes will create new revenue streams for technology and service providers, drive efficiency and convenience for homeowners, and help address climate change goals by reducing the carbon footprint.
Emerging technologies such as analytics and real-time automation, is enabling smart homes to disrupt how power is generated and used.
The study follows 11% of the US total energy consumption coming from residential consumers, adopters of smart homes.
Casey Talon, research director with Navigant Research, said: “Powered by analytics and real-time automation, the smart home is quickly emerging as a dynamic asset for orchestrating how power is generated and used through automated devices and systems.
“The orchestration of major energy-consuming end uses such as air conditioning and hot water heating alongside distributed energy resources (DER) like solar, storage, and energy efficiency measures will maximize the value of a smart home in the Energy Cloud by offering demand flexibility into the grid.”
To take advantage of the benefits of smart homes in the energy cloud, Navigant Research recommends:
- Architects, designers, and developers to leverage building information modeling
- OEMs must focus on amplifying their solutions with digital capabilities
- Service providers to explore partnerships with digital technology and OEMs
- Electric utilities to develop partnerships for a stake in the smart home market
For more information about the report, visit: New Residential Construction in the US Demonstrates Smart Home Potential in the Energy Cloud.