HVAC Breaking News

Jan. 1, 2014: Opower Ranked as Leader in Home Energy Management Market

As This Market Grows, Software Platforms and Analytics Will Play an Important Role

BOULDER, Colo. — The home energy management (HEM) market has struggled to gain traction, particularly from a utility standpoint, says Navigant Research. However, HEM systems have picked up momentum since early 2012, as non-utility stakeholders have moved in and started to lay the groundwork for growth. According to a new Leaderboard report from the research firm, Opower currently leads the HEM market in terms of strategy and execution.

“Companies like ADT, Verizon, Comcast, and AT&T in the United States have added energy management as an optional package that can be bundled with home security, automation, or Internet service, even as big-box retailers, such as Lowe’s and Home Depot, have expanded into energy management products,” said Neil Strother, senior research analyst with Navigant Research. “As this market grows, software platforms and analytics will play an important role in how customers interact with hardware and applications, such as utility demand response or energy efficiency programs that enable them to be more efficient users of energy and to lower their bills.”

Opower has developed a suite of technology solutions that resonate with utility goals to engage residential customers and help them reach their goals of becoming more energy efficient, says Navigant Research, and has emerged as the leader in this report. In addition, Opower has been able to extend its products to clients in Europe, and a recent deal in Japan with TEPCO gives it a foothold in the Asia Pacific region. Among a competitive cluster of companies ranked as contenders, Aclara, AlertMe, and Silver Spring Networks have established themselves as potential vendors that could challenge in this category in the coming years.

An executive summary of the report is available here.

Publication date: 12/30/2013

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