A new study conducted by Navigant Research states that new solutions-based business models will transform the residential utility market.
According to the study, new integrated smart home and distributed energy resources will transform the manner in which consumers interact with their homes and the Energy Cloud.
William Tokash, senior research analyst with Navigant Research, commented: “The confluence of new distributed energy resources (DER) and smart home technology has created smarter, greener, and more resilient energy options for residential utility customers."
These new technology reliant solutions are expected to expand the role played by DERs in the Energy Cloud, as well as create new opportunities, revenue streams for energy companies and the potential to scale faster and yield greater profit margins.
For companies outside the utilities industry, the integration of smart home and home energy technologies and the rising use of data analytics will help them to meet changing customer needs and the potential to partner with utilities.
The report Maximising the Residential Energy Customer Experience with Emerging Solutions examines how traditional utility models for residential customers are impacted by new technologies.