Want more power over your electricity?
Electricity is an omnipresent cost for consumers, businesses and the environment alike. But now, it's one that can be efficiently and easily managed.
High electricity prices are holding less relevance with the advance of Home Energy Management (HEM) systems.
Of course, HEM systems and being able to monitor your home's power usage is nothing new to the market. However, what is currently being tested across Australia is the ability to gain unique insights into your energy use, and then ultimately control your appliances, all from the ease of your tablet, smartphone, or computer.
This means while at work, you could check on your home's power usage. If you notice a particular appliance drawing an unusual amount of energy (e.g. air conditioning unit) you would be equipped to turn it off. Distance is irrelevant, provided you have an internet connection.
A recent report from Navigant Research found that between 2014 and 2023, global revenue for HEM systems is expected to total more than $22 billion.
"Competition is heating up among vendors and, at the same time, HEM products are becoming more accessible to consumers," commented Neil Strother, principal research analyst with Navigant Research.
"Even though the HEM market is still in its early stages of growth, 2015 is shaping up to be a pivotal year for expansion."
Navigant Research identified the HEM market has been progressing rapidly since January 2014, when Google purchased Nest Labs (a HEM business in the USA). The acquisition signaled to all involved in the industry that the value in HEM and automation was finally gaining recognition.
The momentum of the HEM market will only increase with growing awareness of consumers that new tools are available to them to better monitor, and now manage their home electricity consumption.
Can't wait for the HEM revolution? There are a number of simple things you can do to better manage your power use at home in the meantime.
Posted by Jeremy Elliott