Due to rising energy prices, increasing amount of energy consuming devices in households and future possibilities in energy storage, consumers are becoming more and more aware of their own energy consumption.
Owners of a Smart Home have the choice to manage their appliances either centrally or remotely over the Internet. The Internet combined with the use of several mobile devices gives families the possibility to optimize their daily energy consumption with key advantages:
- Homeowners’ energy consumption can be better adjusted with their behavior which helps them to keep their costs under control
- The enhanced intelligence of a Smart Home allows homeowners to take actions remotely
- Older people can remain independent and live in their homes longer as the technology makes their environment safer
Themodel is predicted to become one of the most significant consumer lifestyle developments of this decade. Many technology companies see a big opportunity in inventing high-tech household products and services that are connected with the internet. Mobile devices communicating with each other in people´s homes will probably drive an immense growth for the industry. Therefore, utilities are looking to add value to these business model.
Theis an invention that takes us one step closer to a full and smart ecosystem. However, this can only be realized with cross-industry collaboration. We need to establish new business models that allow the model to work properly and to take on challenges such as:
- regulatory requirements for privacy and security
- interoperability between mobile devices
- affordability for end users’ needs to be filled