As the global electric power industry shifts from a centralized source of power toward a mix of distributed energy resources, the Bring Your Own Device (BYOD) market is expanding and changing. These consumer-focused devices tap into smart, grid-interactive technologies that enable customers to manage their energy consumption while maintaining optimal comfort. A new Navigant Research report examines the market and analyzes the issues related to the devices.
The report projects that Energy Cloud technology will have approximately 5.5 million connected devices by 2027, up from 1.1 million in 2018. As the BYOD program becomes increasingly popular among consumers looking to save energy, the report looks at three major shifts that are taking place across North America.
First, the BYOD products that consumers can use on the energy grid now include not just thermostats, but other home items like hot water heaters, electric vehicles, and energy storage. Additionally, the BYOD programs are exploring bring your own thermostat (BYOT) to measure energy efficiency and they are also expanding to include electricity suppliers in deregulated markets and energy service providers that consumers can choose from.
While BYOD has existed for some time now in the workplace, with employers encouraging employees to bring personal devices to work to save energy and capital, consumers are increasingly purchasing utility and home products from a retailer and then integrating them into energy efficiency programs managed by an energy supplier. Customers can now manage their own energy consumption, based on demand response, through devices that are all connected to the grid.
Brett Feldman, research director with Navigant Research, attributes the BYOD initiative to regulation trends and business model contexts. “Successful utility demand response programs and distributed energy resources management system platform capabilities are helping to increase the number of BYOD programs.”
