Companies like Honeywell, GE, Google, Quirky, and Philips all have one thing in common… they want to control your home! As technology continues to remarkably advance, new and exciting ways of incorporating them keep emerging. This article explores the smart home vision of Quirky, a start-up company that takes on 4,000 new product ideas a week, chooses 3 winners, and creates all aspects of the project from the ground up.
Quirky has decided to take the project of a smart home to the next level and is creating an entirely new company, Wink, which deals specifically with integrating smart home technology. The new innovations pose a major opportunity for many companies alike, such as Apple’s Homekit or Nest who are investing in their own smart home technologies.
But a simple oversight of these companies allows for generator dealers to be poised for a huge opportunity, as well. What if there’s no power in your home? Essentially, your smart home will become virtually obsolete. Simply put, power outages will increase within the future as demand for electricity grows 7-10% each year, yet electrical production only grows at a steady 3%. Therein lies the opportunity for generator dealers.
Essentially, backup generators will allow users to make sure that their smart homes remain, well, smart. Companies such as Honeywell and GE already both have residential generators among their lineup of extensive products. But, the biggest opportunity lies in the prospect of a fully functional “indoor generator” being developed. Although the idea is a little bit farfetched, it’s actually not that outrageous.
Right now, there are government approved generator prototypes being tested. In fact, a second generation is also being developed. Major companies such as Kohler, Briggs and Stratton, and Generac are pursuing the prospect of indoor generators to keep up with the technological advancements.