Market challenges and opportunities for smart home devices and services

Abstract

This paper explores some of the challenges and opportunities for the market for smart home devices and services. As energy data becomes more detailed and easier to access and analyse, disruptive technologies and services are emerging that will improve the energy efficiency and the value of buildings. They will also enable more flexible management of energy supply and use, to shift load to times when power is more plentiful. This is necessary for a decarbonised energy system with less baseload and more intermittent renewable generation. Consumers need good advice to navigate this new market, which will bring about radical changes in the way people use and pay for their energy. New smart technologies will be of most value if they are interoperable and easy to use. While the value of energy saved due to increased efficiency may be small, the value of the flexibility is high.