Energy Apps for Residential Customers
Energy-focused applications, or apps, for residential customers help people efficiently use and manage energy consumption in their homes, thanks to new tools and access to data that were previously not available.
These apps provide residential customers insight into their power usage and offer ways to reduce consumption, helping customers save money. Simultaneously, utilities benefit from better informed and more engaged customers who help make grid operations more efficient.
The market for energy apps is still in its early stage as utilities and energy-focused vendors of hardware and services mine data from devices like smart meters, smart thermostats, and connected appliances. They use this information to deliver actionable steps for customers, allowing them to become more efficient energy users. The number of energy apps is growing, and customers now expect them to be readily available—either from a mobile device or online through a PC or laptop. Savvy utilities need an app strategy to meet these expectations. Several utilities already 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%.
This new Navigant Research report 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.