Jeremy Kaplan, Editor-in-Chief at Digital Trends, provides insight into the evolving energy management market and how to deal with adoption barriers:

What do you think is the most challenging issue for your company as it relates to the residential energy management market?

There’s a great deal of confusion and concern in the energy management, much of it based on an erroneous understanding of why devices exist and what they do. Clear presentation of products, with a focus on how they can save consumers money overall, should be foremost for every business to help change that perception.

What are the major challenges that your business must address in 2015? in 2020?

I hear two very different attitudes towards the connected home space, depending on whether I’m speaking to someone in their 20s/30s or 50s/60s. Bottom line, boomers don’t get it, while younger consumers instantly understand how homes are changing. Marketing a product today should reflect the older audience that might need more coaxing; five years from now, of course we’ll all turn on our homes through voice commands.

What are the major barriers impacting consumer adoption of energy related products and services?

Consumer concern over privacy of information remains one of the chief barriers to adoption. “Will my energy company know how long I’m in the bathroom, or when I leave on vacation based on my light use?” Companies need to convince consumers this info won’t be misused.

What are the biggest opportunities for the smart home industry to work with the electricity industry?

The one thing that drives all products everywhere is money, and that includes the initial cost of a product, the recurring cost of a service, and the money it could save someone in the short/long run. The big promise of smart home tech is saving money, and that story isn’t being told as well or as often as it could be.

Jeremy Kaplan will be speaking on the panel “Investing in the IoT Markets” at 1:15 PM during CONNECTIONS in San Francisco, CA, May 21, 2015. Other speakers include representatives from August, Comcast Ventures, Concours Ventures, and DreamFunded.com.

For more information on CONNECTIONS speakers, sessions, or topics, visit www.connectionsus.com. Register to attend today!

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