A new report out states that the number of Americans with households utilizing smart thermostat technology is up 105%. This is an increase of 3.2 million households in 2014 alone, according to a new research report from Berg Insight.
Berg Insight forecasts that the number of homes with smart thermostats in North America will plausibly grow at a rate of 64.2 percent during the next five years to reach 38.2 million by 2019.
Smart thermostats are a particularly attractive opportunity in the smart home market, as these systems are of great interest for consumers, energy companies, and HVAC service providers, says the report.
Consumers embrace smart thermostats primarily due to the potential for energy savings, increased comfort, and convenience.
For energy companies, smart thermostats open up new possibilities to introduce consumer-friendly demand response and energy efficiency programs. These programs can enable significant capital savings as lower peak load can reduce expenditures on reserve power generation and the need to purchase energy on the spot market.
Were you one of the 3.2 million who purchased a smart thermostat in 2014? Let us know in the comments below.