Issue link: https://te.mouser.com/i/1522749
TREND PAPER / HOME ENERGY STORAGE: NEXT GENERATION OPPORTUNITIES IN SMART HOMES Home Energy Storage Next generation opportunities in Smart Homes 5 • Digital nomads require comfort everywhere 9 : Young people around the world are reprioritizing their lives to try out new and unique places to live and visit. Taking advantage of today's flexible working arrangements, these young people have become known as "digital nomads." While predominantly in the US, digital nomads are spreading across Europe and APAC as well. This shift creates new opportunities and challenges as these Gen Z and Millennial consumers expect a level of amenities – full kitchens, wellness spaces, workstations and security – in their new dwellings. As the demand for these services grows, so will need the need for solutions that address energy usage, management and storage. • "Green features" add to home values 13 : More consumers are equipping the outside of their homes with energy saving devices such as solar panels, charging stations, and generators. This presents not only an upgrade for the homeowner but also serves to enhance a home's value, as new home buyers are looking for modern, green features in their real estate search. UK's Homestays Platform: Plum Guide Across the globe, platforms for homestays are forming. Plum Guide, a UK-based company is making luxurious homestays a reality for travelers looking for elevated experiences. The company recently raised an additional $31 million to fuel growth of its properties. Panasonic and Omron Vehicle-To-Home Partnership 11 In Japan, Panasonic and Omron have developed a vehicle-to-home power system to provide back-up power during blackouts caused by extreme weather events. IKEA's Partnership with SunPower UK IKEA, the home furniture store, has partnered with SunPower, a residential solar technology company, to make solar energy more accessible to consumers, including equipment and installation services. 47% of consumers in 2022 said climate change will impact their lives more than it does now A 44% increase in global production of solar, wind, and other energy was realized between 2018-2022 3. Environmental Shifts 10 : Climate change and its negative impact on weather patterns, has stressed energy systems globally. This has made power outages more commonplace, motivating consumers to not only consider more stable energy connections in their homes but engage in more sustainable practices. With greater attention being paid to more energy-efficient systems, vehicles and appliances, an emphasis on power conversion systems to support these more modern technologies will also be necessary. Environmental shifts are being affected by: • Perils of climate change 11 : From earthquakes and floods in Europe and Asia Pacific (APAC) to freezing temperatures and blizzards across swaths of the US, energy systems and grids are being stressed to a breaking point. With infrastructures around the world unable to handle the intensity and frequency of these events, an increasing number of power outages and energy caps have occurred. For consumers, this has produced a more urgent need to invest in backup systems and consider more sustainable power sources. • Greater access to sustainable home products 12 : At one time, clean-tech, green products were the domain of only select brands at premium costs. Today, consumers in developed markets can find energy saving appliances at a variety of major retailers offered at a range of price points. Heightened accessibility to sustainable options will only serve to encourage more mainstream adoption of these products, particularly if they are offered at costs that are affordable for the everyday consumer. 0% 20% 40% 60% Italy Spain US Germany Japan China % of global consumers who say their home has energy efficient features 2020 2022 Graphic Source: Euromonitor's Voice of the Consumer Survey 2020-2022