Navigant: Annual global market for residential energy solutions to reach nearly $36B in 2027

Tuesday January 15, 2019 0 comments Tags: Boulder, Navigant Research, William Tokash

BOULDER -- The annual global market for the deployment of residential energy and non-energy solutions is anticipated to grow from $6.4 billion in 2018 to $35.6 billion by 2027, according to a report from Navigant Research.

The new report analyzes the global market for emerging residential energy and non-energy solutions, examining key market drivers, barriers, trends, and business models.NavigantNEWlogoUSE

Historically, residential customer relationships with utilities have consisted of transactions to ensure the delivery of reliable power to the home, or to address challenges such as the loss of power or rate change inquiries.

But today, the global electric power industry is undergoing a transformation poised to disrupt traditional residential utility business models while creating new opportunities for residential utility customers. 

“The emergence of residential energy and non-energy solutions alongside electricity supply business models across distributed energy resources (DER) and smart home/home energy platforms can create new revenue opportunities for energy suppliers beyond energy sales in competitive markets,” said William Tokash, Navigant senior research analyst.

“In regulated energy markets, these new solutions will allow utilities to better leverage their relationships with their residential customer base to grow revenue beyond traditional retail energy supply.”

According to the report, residential utility customers stand to benefit from the move by utilities toward customer solutions and the move by energy suppliers and technology providers into new home energy and non-energy solutions markets.

These organizations can help customers increase control over their home energy and non-energy solutions, while making interactions with their home more convenient and resilient at the confluence of the DER and smart home technology market.

The report, Market Data: Emerging Residential Energy and Non-Energy Solutions, analyzes the global market for emerging residential energy and non-energy solutions. These new customer solutions include the following categories: DER, community energy, smart home/home energy, mobility, and lifestyle and care.

The study examines the key market drivers, barriers, trends, and business models related to utility residential energy and non-energy solutions. Global market forecasts, segmented by solution and region, extend through 2027.

An Executive Summary of the report is available for free download on the Navigant Research website.