The Continental Automated Buildings Association has completed a collaborative research study that examined the impact of smart grids on
connected homes.

The study found that the concept of a connected home is desirable for consumers due to the perceived benefits of controllability, energy savings and security that homeowners derive from it. The study however found lack of awareness, confusion regarding what products and services are best suited for consumers, and quantification of the cost benefit analysis are the key issues that have kept the industry from moving forward.

Overall, the study found that only 39% of consumers had some level of understanding of the smart grid. However, only 34% of
consumers, who have general smart grid awareness, attribute this awareness to their local utility company, and marketing campaigns concerning smart and green home technologies.

The main opportunities that the report identified over the next five year period includes energy efficiency, device and system integration, along with a move towards a universal home platform within home.

The study found that energy efficiency would continue to dominate the discussions around adopting smart technologies by homeowners into the near future. The ability to quantify energy savings and reduce operation expenses will increase demand for connected home products and services. The report also found that while pure-play entrants, such as manufacturers and solution providers would participate in the market, more sole solutions from utilities teaming with telecom firms could be expected in the long run.

“CABA was pleased that a number of world-class companies and organisations came together to support this project,” says CABA president and chief executive Ronald J. Zimmer.

“The result was actionable research which determined the clear potentials of connected home technologies along with various strategies that companies can adopt to capitalise on a new wave of services in the age of the emerging smart grid in North America.”