Home energy management market set to explode 

• The global installed base of home energy management (HEM) systems will grow from 4 million in 2013 to 87 million in 2022, a new report from Navigant Research projects. HEM market revenue worldwide is expected to rise from $300.7 million in 2012 to $1.8 billion in 2022.
• The U.S. market is currently "expanding at a slow but steady pace," according to Navigant. while the HEM market was expected to boom with the advent of the smart grid, this has not yet been the case.
• The cost, "perception of a long payback period" and "negligible" payoff are the biggest obstacles to widespread adoption of HEM systems, Navigant says.

 

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