According to a new report by US market intelligence firm, IHS Technology, the global market for demand response-enabled smart home energy management devices will grow to US$4 billion by 2025.
Primary drivers contributing to this growth are energy-efficiency mandates and the need to update infrastructure drive interest in smart meters and other smart grid solutions, notes IHS.
The Texas-based firm adds that opportunities are also growing worldwide for smart home energy-management devices that connect to the smart meter.
The report examines each country’s potential market for smart home energy-management devices is different, based on that particular country’s energy profile and infrastructure, government mandates, and citizen attitudes toward energy efficiency and smart home technology alike
IHS states that in-home displays (IHDs) are projected to have the highest installed base and unit shipments globally from 2011 to 2025, out of smart home energy-management devices. This is largely due to the UK government mandate to install IHDs with smart meters.
Smart energy device security study
The philanthropic non-profit Sloan Foundation has awarded US$48 900 in funding toward a university research study looking at data privacy regarding smart meters and smart energy devices.
The study led by two researchers at Syracuse University in New York, is aimed at addressing the perceived privacy risks of smart energy devices that collect and transmit data to the utility companies that install them.
The funds provided by the Sloan Foundation, will enable researchers from Syracuse University, to add more geographical regions with additional utility regulatory environments, and an array of other smart devices to the study.
The study entitled, “Data Privacy for Smart Meter Data: A Scenario-Based Study” examines consumer’s attitudes towards data privacy – specifically – how smart meters collect consumption data and how utilities use that data.
The scope of the study will extend to evaluating how utilities currently protect consumer data and how well those practices and policies correspond to users’ privacy concerns. The study currently focuses on the Central New York area, but with the aid of the additional US$48,900, will expand the data privacy study to include Northern California, Houston and Michigan’s Detroit/Ann Arbor areas.
Professor and associate dean for Research Jason Dedrick said: “Going to the other parts of the country makes sense, since we can see how people in other places see privacy under certain conditions, especially people who have had a lot of experience with smart meters.
"We’re going to have much richer and more useful findings because we’re able to extend the project like this.”