Parks Associates: 65% of Smart Thermostat Owners Interested in Dealer Service That Performs System Cleaning and Preventative Maintenance on Equipment

Industry leaders to address revenue potential of new energy related services at 10th-annual Smart Energy Summit

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Feb 12, 2019, 08:03 ET

DALLAS, Feb. 12, 2019 /PRNewswire/ -- Research from Parks Associates finds 65% of smart thermostat owners are interested in a dealer service that periodically cleans and performs preventative maintenance on their HVAC equipment. Parks Associates' 10th-annual Smart Energy Summit: Engaging the Consumer, February 18-20 at the Omni Austin Hotel Downtown in Austin, Texas, will feature sessions that explore the crossover appeal and revenue potential of new services when bundled with smart energy home services.

Parks Associates: Smart Thermostat: Appeal of Dealer Services

"Connectivity, data analytics, and convergence of ecosystems create opportunities to expand traditional services and realize new revenue streams," said Elizabeth Parks, President, Parks Associates. "Many new services, paired with smart home solutions, include installation and technical support, maintenance services, remote monitoring for various uses cases, and network security, creating numerous recurring revenue opportunities and potential operational savings."

The session "Evolution of Energy Management in the Smart Home" features the following speakers:

Abigail Daken, Environmental Engineer, EPA ENERGY STAR
Felicite Moorman, CEO, STRATIS IoT
Dain Nestel, Director, ecobee
Zach Schroeck, Director, Product Management, Lutron
Paul Williams, GM Product Management & Growth, GE Lighting

"Energy management should be about automation, especially for residents without an incentive to purchase their own hardware," said Felicite Moorman, STRATIS IoT's CEO. "Improvements in computing power, economies of scale in consumer IoT, sophisticated software, and decreased costs of installation have enabled our ability to apply 'smart' in new and meaningful places, such as multifamily. The smart apartment space is about to graduate from smart locks to full-IoT, with smart devices leading the way."

"Consumers will be more likely to adopt smart home products when they are viewed as problem solvers and not gadgets," said Zach Schroeck, Director, Product Management, Lutron. "Reducing energy consumption is an important factor to consider when building a smart home. For example, the Caséta by Lutron smart lighting system has a 'smart away' feature that randomizes lights to mimic occupancy, eliminating the need to leave lights on 24 hours a day while you're away. The system also recognizes when you've left the home but left lights on, notifies you, and gives you the option to turn them off. It's problem-solving features like these that help reduce energy consumption and lead to more widespread adoption of smart home products."

"Energy partners can help consumers become more active in the smart home space by giving them a reason to place smart home products in their homes—a reason beyond energy savings. While saving energy and money is ideal, it's not the only driver for converting to a smart home," said Paul Williams, GM Product Management & Growth, GE Lighting. "Today, smart home technology can help homeowners save both energy and time and can offer several conveniences—all which can be personalized to their liking. Just imagine a home where the lights are off at a set time because you scheduled them this way, or lights that come on because you entered the room, or lights that remain off because they detected enough natural light, or lights that respond to the simple command of your voice. Today, smart homes can help consumers to do more, be better, and thrive."

To request data or an interview, contact [email protected], 972.996.0214.

About Smart Energy Summit

Smart Energy Summit addresses the benefits of incorporating smart products into energy efficiency and DR programs and the emerging opportunities for energy solutions. www.ses2019.com

Contact:
Julia Homier
Parks Associates
972.996.0214
[email protected]

SOURCE Parks Associates