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Whitepaper - Accelerating the energy transition with Home Energy Management

Home Energy Management (HEM) sits at the intersection of the energy transition and digitalisation. It couldn’t exist without both, and both are accelerating. The pace is such that HEM will become a must-consider, for anyone who wants to be successful in new energy in the home. We predict that the market for HEM will grow significantly in the short term, and likely boom in the medium and long term, creating strong opportunities for a wide range of companies across Europe. A decade ago, a lot of companies had been trying to position themselves in the HEM market. Not everyone is left from this time – many were far too early. Some of those who survived are now in a really strong position to grow. However, competition is growing from various industries, including the battery, electric heating, utility or even the automotive industry. Everyone wants to have a piece of the cake and more than 50 companies now have offerings in the European market, a number that keeps growing every year. Today in Europe, over 20 million homes are equipped with large electrical loads, which include electric heating, battery, EV, PV etc. Only ~300,000 of these are connected to a HEM system today, but we expect that more than 2 million new HEM will be installed  by the end of 2023. The market will mostly be driven by a few countries initially. The Nordics are quite innovative when it comes to optimising dynamic electricity tariffs and large electric loads. Germany – the dominating PV and battery market in Europe – will see a strong growth as electricity prices are amongst the highest in Europe and as PV feed-in-tariffs stop. Other  countries will follow but at a slower pace, at least initially. All signs are positive, but a lot of questions – such as interoperability and standards – still remain unanswered. For now. Find out more about accelerating the energy transition with Home Energy Management in this whitepaper from our home energy management research team.

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