The retail price for electricity in the United States stood at an average of ***** U.S. dollar cents per kilowatt-hour in 2024. This is the highest figure reported in the indicated period. Nevertheless, the U.S. still has one of the lowest electricity prices worldwide. As a major producer of primary energy, energy prices are lower than in countries that are more reliant on imports or impose higher taxes. Regional variations and sector disparities The impact of rising electricity costs across U.S. states is not uniform. Hawaii stands out with the highest household electricity price, reaching a staggering ***** U.S. cents per kilowatt-hour in September 2024. This stark contrast is primarily due to Hawaii's heavy reliance on imported oil for power generation. On the other hand, states like Utah benefit from lower rates, with prices around **** U.S. cents per kilowatt-hour. Regarding U.S. prices by sector, residential customers have borne the brunt of price increases, paying an average of ***** U.S. cents per kilowatt-hour in 2023, significantly more than commercial and industrial sectors. Factors driving price increases Several factors contribute to the upward trend in electricity prices. The integration of renewable energy sources, investments in smart grid technologies, and rising peak demand all play a role. Additionally, the global energy crisis of 2022 and natural disasters affecting power infrastructure have put pressure on the electric utility industry. The close connection between U.S. electricity prices and natural gas markets also influences rates, as domestic prices are affected by higher-paying international markets. Looking ahead, projections suggest a continued increase in electricity prices, with residential rates expected to grow by *** percent in 2024, driven by factors such as increased demand and the ongoing effects of climate change.

The inflation rates of energy commodity prices in Germany began to significantly increase in 2021, a rise that continued throughout 2022. The gas inflation rate peaked in November 2022 at 82 percent. These increases in inflation were driven by tighter fossil fuel supplies since many economies began recovering from the coronavirus pandemic, and further worsened by supply fears following the Russia-Ukraine war. However, in 2024, the HCIP has decreased compared to the previous year.

Electricity prices in the U.S. have surged due to rising demand from heatwaves and data centers, alongside investments in grid infrastructure.

A table listing the average electricity rates (kWh) of all 50 U.S. states as of August 2025.

The displayed data on rising energy costs foster consumption awareness shows results of the Consumer Insights Sustainable Consumption survey conducted in the United States in 2023. Some ** percent of respondents answered the question "Which of the following statements about your personal finances do you agree with? / The rising cost of energy has made me more conscious about my energy consumption" with "Agree".

In November 2022, the vast majority of Hungarians stated that rising energy prices had a significant impact on their purchasing power. Only ** percent of the respondents were not negatively affected by increasing energy costs.

This table contains consumer prices for electricity and gas. Weighted average monthly prices are published broken down into transport rate, delivery rates and taxes, both including and excluding VAT. These prices are published on a monthly basis. The prices presented in this table were used to compile the CPI up to May 2023. Prices for newly offered contracts were collected. Contract types that are no longer offered, but have been in previous reporting periods, are imputed. The average can therefore diverge from the prices paid for energy contracts by Dutch households.

Data available from January 2018 up to May 2023.

Status of the figures: The figures are definitive.

Changes as of 17 July 2023: This table will no longer be updated. Due to a change in the underlying data and accompanying method for calculcating average energy prices, a new table was created. See paragraph 3.

Changes as of 13 February: Average delivery rates are not shown in this table from January 2023 up to May 2023. With the introduction of the price cap, the average energy rates (delivery rates) of fixed and variable energy contracts together remained useful for calculating a development for the CPI. However, as a pricelevel, they are less useful. Average energy prices from January 2023 up to May 2023 are published in a customized table. In this publication, only data concerning new variable contracts are taken into account

When will new figures be published? Does not apply.

Germany Electricity decreased 28.11 EUR/MWh or 24.29% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for Germany Electricity Price.

A comprehensive dataset of average residential, commercial, and combined electricity rates in cents per kWh for all 50 U.S. states.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Household Energy in U.S. City Average (CUSR0000SAH21) from Jan 1967 to Jun 2025 about energy, urban, households, consumer, CPI, inflation, price index, indexes, price, and USA.

The residential energy service market is projected to grow at a CAGR of 11.03% from a market size of 674.52 million in 2023 to reach 1,421.14 million by 2033. The growth of the market is attributed to the increasing demand for energy efficiency and optimization, smart home integration, and renewable energy generation. Government initiatives and regulations supporting renewable energy adoption and energy efficiency measures are further driving the market growth. The market is segmented by service type, customer type, and technology platform. The energy efficiency and optimization segment holds the largest share due to the growing awareness of energy conservation and the availability of advanced technologies such as smart thermostats and energy management systems. The single-family homes segment is the largest in terms of customer type, followed by multi-family homes and apartments and condominiums. The cloud-based platforms segment is expected to witness the highest growth during the forecast period due to the increasing adoption of cloud computing and the availability of scalable and cost-effective solutions. North America is the largest regional market, followed by Europe and Asia Pacific. Recent developments include: The Global Residential Energy As A Service Market is projected to reach USD 10.72 billion by 2032, exhibiting a CAGR of 11.03% during the forecast period. Increasing concerns over energy efficiency and rising electricity costs drive market growth. Government initiatives and incentives to promote energy conservation further contribute to market expansion. Recent developments include partnerships between utilities and technology providers to offer comprehensive REaaS solutions. For instance, in 2023, Enel X partnered with Honeywell to provide smart home energy management systems to residential customers. Mergers and acquisitions are also shaping the market landscape, with established players acquiring smaller companies to expand their service offerings.. Key drivers for this market are: Rising demand for energy efficiency Government incentives Increasing adoption of smart home technology Growing awareness of environmental sustainability Expansion into emerging markets.. Potential restraints include: Rising energy costs Declining renewable energy costs Government incentives and regulations Advancements in smart home technology Growing awareness of environmental sustainability..

Advanced Energy Market Outlook

The Advanced Energy Market is witnessing robust growth, with the market size valued at approximately USD 1.7 trillion in 2023. It is expected to reach a staggering USD 3.2 trillion by 2032, growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period. The market is primarily driven by the increasing global demand for clean and sustainable energy solutions, backed by technological advancements and supportive policy frameworks. These growth factors collectively contribute to the burgeoning adoption of advanced energy technologies across various sectors.

One of the key growth drivers in the advanced energy market is the increasing global awareness and commitment towards reducing carbon emissions and combating climate change. Governments worldwide are implementing stringent regulations and offering incentives to promote renewable energy sources such as solar, wind, and geothermal. This has significantly propelled the investments in the development and deployment of advanced energy technologies. Furthermore, corporate social responsibility initiatives and consumer preference for greener alternatives are augmenting the demand for sustainable energy solutions, thereby catalyzing market growth.

Technological advancements continue to play a pivotal role in the expansion of the advanced energy market. Innovations in energy storage, smart grid technologies, and energy-efficient systems are enhancing the efficiency and scalability of renewable energy projects. The integration of digital technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) in energy systems is optimizing energy consumption and reducing operational costs. This technological evolution is unlocking new opportunities for market players to offer innovative solutions and gain a competitive edge in the evolving energy landscape.

The global shift towards energy diversification and security is another crucial factor contributing to the growth of the advanced energy market. With the depletion of conventional energy resources and the geopolitical uncertainties surrounding fossil fuels, countries are increasingly focusing on diversifying their energy portfolios. The adoption of advanced energy technologies ensures a stable and sustainable energy supply, reducing dependence on traditional energy sources. This transition towards a diversified energy mix is further supported by declining costs of renewable energy technologies, making them more accessible and economically viable.

Regionally, the Asia Pacific is expected to dominate the advanced energy market during the forecast period, driven by rapid industrialization, urbanization, and favorable government policies in countries like China and India. North America and Europe are also significant contributors, with substantial investments in renewable energy infrastructure and technological advancements. The Middle East & Africa and Latin America regions are anticipated to witness moderate growth, fueled by increasing investments in renewable energy projects and the growing emphasis on achieving energy independence. This regional diversity highlights the expansive nature of the advanced energy market, with varying growth rates and opportunities across different geographical segments.

Technology Analysis

In the realm of advanced energy, technology forms the backbone of the market, encompassing several sub-segments such as solar, wind, nuclear, hydroelectric, geothermal, and others. Solar energy, being one of the most rapidly evolving technologies, is experiencing significant growth due to declining solar panel costs and increased efficiency. Technological advances in photovoltaic cells and concentrated solar power are making solar energy a more viable and competitive option. Additionally, the adoption of solar energy is being driven by its versatility and scalability, making it suitable for residential, commercial, and utility-scale applications.

Wind energy technology has also gained considerable momentum, with improved turbine designs and better aerodynamics contributing to enhanced energy capture and generation efficiency. Offshore wind farms are particularly gaining prominence due to their ability to harness strong and consistent winds, leading to higher energy outputs. Innovations in wind turbine materials and designs are further reducing maintenance costs and increasing the lifespan of wind energy installations. As a result, wind energy is becoming an attractive option for countries seeking to expand their renewable energy capacity.

This survey explores what respondents see as the main contributors to rising real energy prices over the next 40 years. 36 percent of respondents saw dwindling supplies of non-renewable energy commodities as a main contributor. Respondents could select up to three.

The global split heat pump market is experiencing robust growth, projected to reach $28.91 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 6.5% from 2025 to 2033. This expansion is fueled by increasing concerns about climate change and rising energy costs, driving demand for energy-efficient heating and cooling solutions. Government incentives and stricter building codes promoting energy efficiency further bolster market growth. Technological advancements, such as the integration of smart home technology and improved inverter technology leading to higher efficiency and quieter operation, are also contributing factors. Key players like Daikin, Carrier, and Mitsubishi Electric are actively investing in R&D and expanding their product portfolios to cater to diverse consumer needs, including mini-splits for residential use and larger systems for commercial applications. The market is segmented based on capacity, application (residential, commercial), and geographical region, with significant growth anticipated in emerging economies due to rising disposable incomes and urbanization. Competition in the split heat pump market is intense, with numerous established players and emerging competitors vying for market share. The success of individual companies hinges on factors such as technological innovation, brand reputation, distribution networks, and after-sales service. Despite the strong growth trajectory, certain challenges remain, including the high initial investment cost compared to traditional HVAC systems and potential supply chain disruptions impacting manufacturing and distribution. However, the long-term cost savings associated with energy efficiency and government support measures are expected to outweigh these challenges, ensuring sustained market growth over the forecast period. The increasing focus on sustainability and the transition towards renewable energy sources are also poised to significantly drive the demand for split heat pumps in the coming years.

The in-home energy display market is experiencing robust growth, driven by increasing consumer awareness of energy consumption and rising electricity prices. The market's expansion is fueled by several key factors: the proliferation of smart home technologies, government initiatives promoting energy efficiency, and the growing adoption of renewable energy sources. Consumers are increasingly seeking ways to monitor and manage their energy usage, leading to higher demand for in-home displays that provide real-time energy consumption data, allowing for informed decision-making and potential cost savings. Technological advancements, such as improved display interfaces and integration with smart home ecosystems, further contribute to market expansion. While the initial investment in these displays might seem high, the long-term benefits of reduced energy bills and improved energy management often outweigh the cost. Competition among manufacturers is fierce, leading to innovation in features, design, and pricing, ultimately benefiting consumers. We project continued strong growth in the market over the next decade, driven by ongoing technological advancements and increasing consumer demand for energy efficiency. The market segmentation, while not explicitly provided, likely includes variations based on display technology (LCD, LED, etc.), connectivity (Wi-Fi, Zigbee, etc.), functionality (basic monitoring, advanced analytics), and price points. Key players in the market are leveraging strategic partnerships and technological advancements to gain a competitive edge. Potential restraints to market growth could include the relatively high initial cost for consumers, the need for compatible smart home infrastructure, and potential data privacy concerns. However, these challenges are likely to be mitigated by decreasing hardware costs, increased consumer familiarity with smart home technology, and the development of robust data security measures. The market's future hinges on continued technological innovation, favourable regulatory environments supporting energy efficiency, and expanding awareness among consumers regarding the benefits of energy monitoring.

The North American energy management systems (EMS) industry is poised for significant growth in the coming years, driven by the increasing demand for energy efficiency and sustainability. The market is expected to reach a value of $XX million by 2033, experiencing a CAGR of 15.10% during the forecast period of 2025-2033. Building energy management systems (BEMS) and home energy management systems (HEMS) are the major segments within the market, while commercial, industrial, healthcare, and education are the primary end-users. Key market drivers include:

Rising energy costs, which are mendorong businesses and consumers to adopt energy-saving solutions. Government regulations and incentives that promote energy efficiency. The growing adoption of smart technologies and the Internet of Things (IoT), which enable more efficient energy management. The increasing demand for sustainable and environmentally friendly solutions.

Restraints to market growth include:

High initial investment costs for EMS. Lack of technical expertise in deploying and managing EMS. Cybersecurity concerns associated with connected devices. Key drivers for this market are: , Increasing Trend of Electricity Prices and Commitment Towards Sustainability; Energy Efficiency Regulations. Potential restraints include: , High Installation Costs Coupled with Maintenance Costs. Notable trends are: BEMS is Driving the Growth of the Market.

The global Home Energy Management Systems (HEMS) market is estimated to be valued at USD XXX million in 2025 and is projected to grow at a CAGR of XX% from 2025 to 2033. The market is primarily driven by increasing electricity consumption, rising energy costs, and growing demand for energy efficiency. Additionally, government initiatives and regulations promoting smart grid technologies and energy conservation are fueling market growth. Key trends include the adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) for energy optimization and the integration of renewable energy sources into HEMS. The HEMS market is segmented by application into residential, commercial, and industrial. The residential segment accounted for the largest market share in 2025 due to rising energy consumption in households and increasing awareness about energy conservation. The commercial segment is also expected to witness significant growth due to the increasing adoption of energy-efficient technologies in office buildings and other commercial establishments. Key players in the market include Schneider Electric, Siemens, Honeywell, Johnson Controls, GridPoint, General Electric, Emerson Electric, Eaton Corporation, Azbil, Cylon Controls, and Tongfang Technovator. These companies are focusing on product innovation, partnerships, and collaborations to expand their market presence and cater to the growing demand for energy management solutions.

According to Cognitive Market Research, the global Home Energy Management System (HEMS) market size will be USD 4125.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1650.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1237.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 948.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 206.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 82.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The thermostat category is the fastest growing segment of the Home Energy Management System (HEMS) industry

Market Dynamics of Home Energy Management System (HEMS) Market

Key Drivers for Home Energy Management System (HEMS) Market

Rising Need for Optimizing Energy Consumption to Boost Market Growth:

With its effective and sustainable energy storage and usage options, thermal energy storage (TES) is an essential part of home energy management systems (HEMS). When demand is low, TES technologies are made to store extra thermal energy, which is then released when demand is high. This strategy guarantees a dependable and economical means of energy consumption optimization.

Growing Number of Smart Homes to Drive Market Growth:

The market for home energy management systems (HEMS) is expanding quickly because of the rising need for intelligent and energy-efficient technology that lets users remotely control their home appliances and other systems. Thus, as more people outfit their smart homes with various smart gadgets, the growing demand for smart homes is anticipated to present growth possibilities for vendors in the home energy management system market.

Key Restraint Factor for the Home Energy Management System (HEMS) Market

High Cost of HEMS Will Limit the Market Growth:

Even while retail automation and IoT dominance are on the rise, the high investment cost prevents home energy management systems (HEMS) from being widely adopted, particularly in the price-sensitive emerging regions of APAC and Latin America. These gadgets can be challenging to install, and expert help is typically required.

Limited understanding and digital proficiency among consumers:

Numerous homeowners are still oblivious to the complete advantages of Home Energy Management Systems (HEMS) or do not possess the necessary digital skills to operate them. This hinders broad acceptance, especially in areas with lower smart home adoption.

Key Trends for Home Energy Management System (HEMS) Market

Integration with smart home ecosystems and voice assistants: Modern Home Energy Management Systems (HEMS) are progressively being developed to function effortlessly with smart speakers, Internet of Things (IoT) devices, and voice assistants. This advancement improves user convenience and encourages the adoption of ecosystem-based solutions.

AI-driven predictive energy optimization: Artificial intelligence is being incorporated into HEMS to predict usage trends, automate decision-making processes, and dynamically optimize energy consumption. This development facilitates more intelligent interactions with the grid and enhances the management of peak demand.

Impact of Covid-19 on the Home Energy Management System (HEMS) Market

Due to the pandemic's economic uncertainties, numerous homeowners put off investing in home energy management systems and other non-essential expenses. Lockdowns, travel restrictions, and plant closures caused supply chain disruptions in the HEMS business, as they did in many other industries, which resulted in delays in product availability. Nonetheless, as many people began working remotely, homeowners sought methods to make their homes more comfortable and energy-efficient. The use of HEMS...