The market for residential energy applications is in its early stage, but is expected to experience further growth, according to a new report from Navigant Research. To increase energy efficiency in their homes and to save money, residential customers are beginning to turn to energy-focused apps offered by utilities and vendors of energy-related hardware and services. Through new tools, and with data available at their fingertips, customers can monitor their energy use to reduce consumption, while utilities benefit from more efficient grid operations. Active users of utilities’ energy apps have experienced average savings of 6% to 8%.
“Customers are using apps via mobile devices like smartphones and tablets, as well as PCs, for more and more of their daily needs,” says Neil Strother, principal research analyst with Navigant Research. “Energy services companies in the 21st century need to stay in tune with them by providing appropriate apps and developing an adaptable and long-term strategy, helping customers to more efficiently monitor and manage their energy consumption.”
Currently, several utilities offer energy apps for customers, including DTE Energy, Direct Energy, and Infinite Energy, and point to generally positive customer experiences and possible energy savings of approximately 8%. The market for energy apps is still in its early stage, according to the report, but is expected to grow as more utilities and energy service companies become more technologically savvy.
The report, Energy Apps for Residential Customers, examines the residential energy app market, with a focus on three segments: consumer apps, prosumer apps, and utility apps. The study analyzes the drivers, inhibitors, and regional trends related to energy apps and highlights several case studies where these apps are being used today. Some of the key players in the residential energy app market are profiled, and various business models and best practices for designing and deploying winning energy apps are discussed.
Read an executive summary of the report: www.navigantresearch.com/research/energy-apps-for-residential-customers