Research finds that utility ownership of Residential Demand Response (RDR) slips to 76% of 212mn homes, as Smart Home based Demand Response takes off in 366 GW and $466bn market.
Rethink Technology Research has found that by 2025, over 212 million homes globally will be participants in utility demand response programs, accounting for $466 billion in electricity spending and 366 GW of electricity usage. However, the utility-controlled share of this market will slide from 98% to 76%, as third-party providers leverage smart home technologies to become valuable partners to the energy providers.
Within five years, over 28 million homes globally will be using smart home technologies to participate in these third-party demand response (DR) programs – around 23.74% of the total number of DR homes. These smart home based DR homes (SHDR) account for nearly 3% of total global households, 16% of total global smart homes, and almost 24% of total DR homes.
This means that the utilities move from controlling around 98% of DR homes today to 76% in this period, as a plethora of startups and smart home vendors begin to take hold of the Residential DR opportunities (RDR), the report says.
You can download the full report here.