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 May 2025 about energy, urban, households, consumer, CPI, inflation, price index, indexes, price, and USA.

In 2023, the number of residential smart meters in the United States amounted to 112 million, up from less than 40 millions in 2012. This trend suggests a growing awareness and adoption of smart meter technology among American households. Energy costs on the rise This increase in smart meter usage may be due in part to rising energy costs around the world. While the United States has not been hit by rising energy costs in the same way as many European countries, it has not been immune to the global fuel shortage in the early 2020s. Despite having a strong domestic energy sector, the price of electricity in the U.S. increased by four percent in January 2025. Additionally, the consumer price index for energy in the U.S. shot up to 136 in 2024. These cost increases prompt consumers to investigate how to save on their energy bills. Smart meters can help households track their energy usage and identify areas where they can make changes to reduce their energy consumption. The energy crisis in Europe Energy costs have also been a concern in Europe, where many countries are heavily reliant on Russian energy imports. Energy price hikes have hit the European countries particularly hard, where wholesale electricity prices have surpassed 400 euros per megawatt-hour in 2022. In 2023, the share of households equipped with a smart meter in Europe ranged between 100 percent in Spain, Italy, and the Nordic countries and one percent in Germany.

Hawaii is the state with the highest household electricity price in the United States. In September 2024, the average retail price of electricity for Hawaiian residences amounted to 41.27 U.S. cents per kilowatt-hour. California followed in second, with 30.221 U.S. cents per kilowatt-hour. Meanwhile, Utah registered the lowest price in the period, at around 11.4 U.S. cents per kilowatt-hour. Why is electricity so expensive in Hawaii? Fossil fuels, and specifically oil, account for approximately 80 percent of Hawaii’s electricity mix, so the electricity price in this state can be roughly brought down to the price of oil in the country. Oil was by far the most expensive fossil fuel used for electricity generation in the country. As Hawaii depends on oil imports, the cost of transportation and infrastructure must be added to the oil price. Electricity prices worldwide The U.S. retail price for electricity increased almost every year since 1990. In 2023, it stood at 12.7 U.S. cents per kilowatt-hour, almost double the charge put on electricity back in 1990. However, household electricity prices are around 25 U.S. dollar cents per kilowatt-hour lower in the U.S. when compared to European countries reliant on energy imports, such as Germany and Italy.

As of December 2023, Guatemala had the highest household electricity price among Latin American countries, with an average of 0.3 U.S. dollars per kilowatt-hour. Argentina reported the lowest rate among the countries displayed, at less than 0.05 U.S. dollars per kilowatt-hour. Electricity prices across the American continent Electricity prices vary considerably across the American continent. The Caribbean country of Jamaica accounted for the highest household electricity price on the continent, after Guatemala and Uruguay, at 0.25 U.S. dollars per kilowatt-hour. In comparison, the residential electricity price in the United States amounted to approximately 0.16 U.S. dollars per kilowatt-hour, like in Brazil. Global electricity prices With the energy crisis of 2022, global electricity prices boomed to unprecedented values in most countries worldwide. The wildest price spikes occurred in countries that heavily rely on fossil fuels and energy imports, like the European countries. In some cases, price caps set by governmental institutions kept domestic electricity prices under a certain threshold, such as in Brazil.

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.

In 2024, the retail price of electricity for residential customers in the United States averaged 16.48 U.S. cents per kilowatt-hour. Households are charged more than the commercial and industrial sectors, because of the higher distribution costs. Since 2020, electricity customers have seen electricity prices increase in the U.S. and peak in 2024. The U.S. electricity market The U.S. electricity market is led by several types of electricity providers, such as cooperatives, municipal systems, and shareholder-owned electric utilities. In 2022, cooperatives were the most common type of ownership in the U.S., with more than 600 providers. That year, the U.S. electric utility industry revenue amounted to 488 billion U.S. dollars. Electricity prices around the world Electricity prices vary widely from country to country, depending on energy sources used, as well as government and industry subsidies and regulations. In 2023, Ireland and the United Kingdom had some of the highest household electricity prices worldwide. Meanwhile, U.S. households paid some of the lowest prices. However, leading oil and gas-producing regions such as the Middle East registered the cheapest rates overall.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Household Energy in Midwest - Size Class D (DISCONTINUED) (CUURD200SAH21) from Dec 1977 to Dec 2017 about midwest, energy, urban, households, consumer, CPI, inflation, price index, indexes, price, and USA.

United States - Consumer Price Index for All Urban Wage Earners and Clerical Workers: Household Energy in U.S. City Average was 222.98500 Index 1982-84=100 in November of 2021, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Wage Earners and Clerical Workers: Household Energy in U.S. City Average reached a record high of 223.56700 in October of 2021 and a record low of 21.30000 in January of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Wage Earners and Clerical Workers: Household Energy in U.S. City Average - last updated from the United States Federal Reserve on May of 2025.

In 2023, module and inverter costs accounted for some 24 percent of the cost of residential solar systems in the United States. Soft costs accounted for more than half of the total cost, with labor having a share of 6.6 percent.

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. Conventional energy sources frequently require assistance to fulfill peak demand, which puts strain on the grid and raises electricity costs. For this problem, TES technologies offer a reliable and expandable solution. With TES, energy consumption is efficiently managed, and expensive peak power generation is not required by storing thermal energy during low-demand times, including at night or during off-peak hours, and releasing it when demand is high.

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. The markets are most widely accepted in North America, Asia-Pacific, and Europe. Users are also gravitating toward the Smart City movement, which is more prevalent in industrialized countries like Western Europe, the US, Canada, and Japan. Voice control, artificial intelligence, and intelligent assistants are examples of technological advancements that have made smart and connected houses feasible control centers. They are a ground-breaking advancement in home design that improves sustainability, comfort, convenience, security, and entertainment.

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. The current smart house infrastructure may also be included in some home energy management systems, which could incur extra fees. Furthermore, low-income households may find the high upfront expenses of home energy management systems particularly difficult to afford. Financial limitations may be challenging for these consumers, who stand to gain from the system's potential energy savings.

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 restrict...

Graph and download economic data for Consumer Price Index for All Urban Consumers: Household Energy in West (CUUR0400SAH21) from Dec 1977 to May 2025 about west, energy, urban, households, consumer, CPI, inflation, price index, indexes, price, and USA.

United States - Consumer Price Index for All Urban Consumers: Household Energy in U.S. City Average was 279.93000 Index 1982-84=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: Household Energy in U.S. City Average reached a record high of 279.93000 in May of 2025 and a record low of 21.30000 in February of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: Household Energy in U.S. City Average - last updated from the United States Federal Reserve on June of 2025.

Ireland, Italy, and Germany had some of the highest household electricity prices worldwide, as of March 2025. At the time, Irish households were charged around 0.45 U.S. dollars per kilowatt-hour, while in Italy, the price stood at 0.43 U.S. dollars per kilowatt-hour. By comparison, in Russia, residents paid almost 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations.

The average retail price of electricity for households has risen steadily in the United States, reaching a peak of around 15.98 cents per kilowatt-hour in 2023. In the U.S., electricity prices tend to reflect base overnight costs for power plants, their maintenance, fuel costs, and the operation of power grids. How electricity rates differ across states in the U.S. The price of electricity varies widely across states. Hawaii has continuously had one of the highest rates and Washington one of the lowest. In Hawaii, the power sector is largely reliant on petroleum and diesel generators. Crude oil is a comparatively expensive fuel and prices tend to be volatile, driving up overall electricity prices. Meanwhile, electricity prices are low in states which use hydropower as the main source of electricity, as Washington. In the U.S., costs of electricity are greatly shaped by the primary power source used per state. Maintaining the power grid In addition to primary fuel purchases, the costs required to operate and maintain transmission and distribution systems also impact the prices that a household pays. In 2022, power utilities reported a peak in grid operating expenses, with transmission-related costs reaching 15.9 billion U.S. dollars and almost six billion U.S. dollars invested in distribution networks.

The global household gas engine cogeneration unit market is experiencing robust growth, driven by increasing energy costs, stringent environmental regulations promoting energy efficiency, and a rising demand for reliable and sustainable power solutions in residential settings. The market, valued at approximately $2.5 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This growth is fueled by several factors, including the increasing adoption of renewable energy sources, particularly in developed nations, coupled with government incentives and subsidies aimed at encouraging the uptake of energy-efficient technologies. The shift towards decentralized energy generation, offering greater control and reduced reliance on centralized grids, further contributes to market expansion. Significant technological advancements, such as improved efficiency levels and reduced emissions in gas engine cogeneration units, are also key drivers. The market is segmented by scale (large, small, micro) and application (apartment buildings, residential buildings), with the residential segment expected to dominate due to the increasing number of households globally. Leading manufacturers like Honda, Yanmar, Viessmann, and others are constantly innovating to enhance the efficiency, reliability, and affordability of these units, fueling competition and market growth. While initial investment costs can be a barrier, long-term cost savings through reduced energy bills and increased energy independence are driving adoption. The market's geographic spread is diverse, with North America and Europe representing significant market shares, followed by the Asia-Pacific region. However, growth in emerging economies is anticipated to be significant, driven by rising urbanization and increasing energy demands. Challenges remain, including the fluctuating price of natural gas, concerns about greenhouse gas emissions, and the need for skilled installation and maintenance professionals. Nevertheless, the overall market outlook remains positive, with substantial growth potential in the coming years.

Electricity consumption in the United States totaled ***** terawatt-hours in 2023, one of the highest values in the period under consideration. Figures represent energy end use, which is the sum of retail sales and direct use of electricity by the producing entity. Electricity consumption in the U.S. is expected to continue increasing in the next decades. Which sectors consume the most electricity in the U.S.? Consumption has often been associated with economic growth. Nevertheless, technological improvements in efficiency and new appliance standards have led to a stabilizing of electricity consumption, despite the increased ubiquity of chargeable consumer electronics. Electricity consumption is highest in the residential sector, followed by the commercial sector. Equipment used for space heating and cooling account for some of the largest shares of residential electricity end use. Leading states in electricity use Industrial hub Texas is the leading electricity-consuming U.S. state. In 2022, the Southwestern state, which houses major refinery complexes and is also home to nearly ** million people, consumed over *** terawatt-hours. California and Florida trailed in second and third, each with an annual consumption of approximately *** terawatt-hours.

The liquid-cooled energy storage solution market is experiencing explosive growth, projected to reach a market size of $5,916.6 million in 2025 and exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 83.5% from 2025 to 2033. This surge is driven by several key factors. The increasing demand for renewable energy sources like solar and wind power necessitates efficient and reliable energy storage solutions to address intermittency issues. Liquid cooling offers significant advantages over air cooling, including higher energy density, improved thermal management, and enhanced system lifespan, making it the preferred choice for large-scale deployments. Furthermore, the growing adoption of electric vehicles (EVs) and the expanding grid-scale energy storage projects are significantly boosting market demand. Technological advancements leading to improved battery chemistries and more efficient cooling systems are further fueling this rapid growth. The diverse applications across grid-level, industrial & commercial, and household sectors contribute to the market's broad appeal and diverse revenue streams. Competition among major players like Tesla, BYD, CATL, and others is driving innovation and price reductions, making liquid-cooled energy storage more accessible and economically viable. The segmentation of the market into liquid-cooled energy storage containers and cabinets caters to diverse needs based on capacity and application requirements. Geographic distribution shows strong growth potential across all regions, with North America and Asia Pacific expected to lead in terms of market share due to significant government initiatives promoting renewable energy adoption and substantial investments in grid infrastructure. While challenges such as high initial investment costs and the need for specialized expertise exist, the long-term benefits of improved efficiency, reliability, and reduced operational costs outweigh these concerns, ensuring the continued expansion of this dynamic market. The forecast period, 2025-2033, promises sustained growth, driven by continued technological innovation and increased global energy demands. This comprehensive report provides a detailed analysis of the rapidly expanding liquid cooled energy storage solution market. Valued at approximately $3.5 billion in 2023, this market is projected to experience significant growth, reaching an estimated $17 billion by 2030, driven by increasing demand for renewable energy integration and grid stability. This report delves into market segmentation, key players, technological advancements, and future growth projections. It utilizes data from leading companies like Tesla, BYD, CATL, and others to provide an accurate and insightful overview of the industry landscape.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Household Energy in Northeast (CUUR0100SAH21) from Dec 1977 to May 2025 about energy, urban, households, consumer, CPI, inflation, price index, indexes, price, and USA.

The US residential smart meters market is experiencing robust growth, driven by increasing government initiatives promoting energy efficiency and grid modernization. The rising adoption of smart home technologies and the demand for real-time energy consumption monitoring are significant contributing factors. A projected CAGR of 6.32% (consistent with global trends) indicates a substantial expansion of this market through 2033. While precise figures for the US market size in 2025 are unavailable, estimations based on global market data and the significant US residential sector suggest a market value exceeding $1 billion. This is fueled by the growing awareness of the benefits of smart meters, including reduced energy waste, improved grid management capabilities, and enhanced customer engagement through detailed consumption data. The market segmentation is largely driven by technology type (smart gas, water, and electricity meters), with smart electricity meters currently holding the largest share due to broader government support and existing infrastructure. Competition amongst established players like Itron, Landis+GYR, and others is intense, driving innovation and price competitiveness. Significant growth opportunities exist for companies focusing on advanced features like data analytics platforms and integration with smart home ecosystems. While regulatory hurdles and initial investment costs can present some challenges, the long-term benefits in terms of reduced energy consumption and improved grid reliability are undeniable. The adoption rate, however, may vary geographically within the US, potentially influenced by factors such as existing infrastructure, energy policies, and population density. Further growth will likely depend on effective consumer education and incentivization programs promoting the adoption of smart meters, particularly in areas with less developed smart grid infrastructure. The market is poised for continued expansion, particularly as demand for more sophisticated metering solutions capable of supporting renewable energy integration grows. Recent developments include: September 2023 - Southwestern Electric Power Co., an American Electric Power company, announced that it would begin installing advanced digital meters, more commonly known as smart meters, in Louisiana. Smart meters use secure wireless technology to provide timely and accurate meter reading data, which customers can use to better understand and manage energy usage at a home or business. In addition, smart meters also allow for real-time outage notifications to SWEPCO for more seamless power restoration. Installations to approximately 234,000 Louisiana customers will begin in the Shreveport-Bossier City area in October before moving south to Hornbeck and other parts of SWEPCO’s Louisiana service territory. Deployment of smart meters will continue across the state through 2025., August 2023 - United States, Rankin Road West MUD announced a partnership with WasteWater Management Services and Accurate Meter to bring smart water meters to their district to modernize its operations and technology infrastructure to improve its customers’ experience. The organization aims to reduce water loss due to leaks, enhance the visibility of water usage trends, and accelerate reporting and handling of problems.. Key drivers for this market are: Increased Investments in Smart Grid Projects, Growth in Smart City Deployment. Potential restraints include: Increased Investments in Smart Grid Projects, Growth in Smart City Deployment. Notable trends are: Increased Investments in Smart Grid Projects to Drive the Market.