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Incentives heat up the home energy management market.
Incentives from utilities, federal funding, and private companies are pushing solar, storage, and smart thermostat Utility companies increasingly promote and supply smart thermostats, a product currently stagnating at 12%-13% adoption, to help facilitate demand response programs that can benefit the grid and save consumers on their electric bills. Energy companies are also closely watching congressional bills to see if a new round of incentives for home solar installation will help promote adoption of that technology. Additionally, expect other energy players to follow Google Nest’s lead in connecting consumers to renewable energy credits, which will appeal to environmentally conscious consumers who don’t have access to renewable energy from their roofs, communities, or local power companies.
Chris White Sr. Analyst Parks Associates
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