The growing energy demand has become an emerging concern among modern homes globally. The rise of home energy management systems (HEMS) has helped resolve these rising issues. These are digital systems that monitor and control energy generation, consumption, and storage within a household. In the last few years, energy management systems have gained huge popularity due to the increasing adoption of electric mobility and heating, PV cells for domestic purposes, and the growing expenses across different fields. The primary goal of home energy management systems is to optimize household energy use by encouraging greater reliance on renewable energy, while significantly reducing costs and carbon emissions.
Why are electricity meters needed for HEMS?
Electricity meters play a major role in improving the performance of home energy management systems. They offer real-time information on household energy consumptions, allowing these devices to monitor energy flow patterns and identify areas where improvement is necessary. HEMS also provides insights into the appliances that consume maximum energy, allowing homeowners to make informed decisions about their energy habits such as replacing existing appliances with energy-efficient appliances.
In addition, electricity meters also bring automation in HEMS, allowing heating, cooling, and lighting settings to get adjusted depending on user preferences, energy consumption data, and weather conditions. This level of automation helps reduce waste and lower costs, ensuring proper energy usage. In addition, these meters also track the production and consumption of renewable energy such as solar panels, allowing energy management devices to enhance clean energy usage and ensuring excessive energy storage. Moreover, they support demand response programs, enabling HEMS to switch energy consumption during the peak period.
What does the future of home energy management systems look like?
In the past few years, rapid technological advancements such as energy conservation methodologies, smart grids, and information infrastructures, are expected to boost the growth of the home energy management market. According to Allied Market Research, the industry is predicted to rise at a CAGR of 15.6% from 2021 to 2030. The increased integration of renewable energy sources such as solar and wind energy into HEMS has created waves in the sector. As most households have started adopting clean technologies, HEMS enables homeowners to make more intelligent and sustainable energy use.
On the other hand, the rise of IoT has further enhanced the energy monitoring and management capabilities of HEMS. The incorporation of this modern technology has enabled the systems to provide real-time data, offering people a better understanding of their energy usage and allowing them to make informed decisions and reduce their bills. Moreover, the implementation of AI has further taken energy management to another level. It offers predictive analytics, estimates renewable energy production, and enhances energy storage to ensure the efficiency of resources.
In addition, the rise of smart appliances such as thermostats and heating systems has improved home energy management, based on user habits and energy availability. These systems are completely integrated with HEMS, making them more efficient and inherent. This helps homes efficiently manage supply and demand, particularly during peak hours.
Schneider Electric discloses AI-driven home energy management with Wise Home App
In September 2024, Schneider Electric, a specialist in energy management and automation introduced a new AI-powered feature in home energy management, namely, the Wise Home app. Recently recognized as the world’s most sustainable comany, Schneider Electric has come up with innovative solutions for homebuilders, house owners, and electrical installers. The company’s new feature offers AI-enabled energy management of two major power loads in homes including water heaters and electric vehicle chargers, through a single app. Wiser Home helps reduce energy bills through automated load management and predictive energy consumption considering consumers’ lifestyles. The predictive algorithms of the app analyze users’ habits and preferences, power contract limits, and solar production capabilities to enhance energy saving by balancing the two biggest loads in homes .
The essence
Home energy management systems are a notable advancement that enables modern buildings to manage their energy consumption. With the integration of modern technologies such as AI, IoT, renewable energy sources, and smart appliances, these devices have helped reduce costs and promoted sustainable living practices. Moreover, the rising demand for improved housing infrastructure and the growing construction of smart homes are expected to create lucrative opportunities for the industry in the years to come.
𝑨𝒓𝒕𝒊𝒄𝒍𝒆 𝒘𝒓𝒊𝒕𝒆𝒓: Rosy Behera
LinkedIn ID: (34) ROSY BEHERA | LinkedIn
