ABB Expands Residential Energy Management Portfolio with Lumin Acquisition

ABB acquired Lumin, a U.S.-based provider of energy management systems, to expand its home energy management capabilities in the North American residential sector. The acquisition follows ABB's 2023 strategic minority investment in the company.

The acquisition brings Lumin's intelligent solutions for electrification, as well as solar and storage systems, into ABB's portfolio, creating a comprehensive residential energy management offering in North America. With the addition of Lumin’s technology, ABB is well positioned to meet the growing demand for home electrification solutions in the U.S., where approximately 48 million existing homes require electrification upgrades -- a number that increases significantly when including new construction and other North American markets.

Lumin’s platform allows for the integration of any brand of load centers, battery systems and generators. The ABB press release said the company provides deep insights into behind-the-meter consumption and dynamically manages energy loads – such as electric vehicle chargers, hot tubs and heat pumps -- paving the way for more efficient and sustainable communities.

“We’re excited to welcome Lumin into the ABB family at a time when electrification across North America is a transformative megatrend,” said Mike Mustapha, president of ABB Electrification’s Smart Buildings Division, in the press release.

“By acquiring Lumin, we gain not only an advanced product portfolio but also access to key partnerships within residential-renewable-focused organizations -- an essential move in driving future innovations for smart homes and communities across the region.”

Electricity plays a significant role in residential energy consumption in North America, accounting for 44% in the U.S. and nearly 46% in Canada. In the coming years this share is expected to grow with residential electricity consumption in the U.S. projected to increase by 14% to 22% between 2022 and 2050⁵. These trends present a strong opportunity for ABB’s newly acquired solutions to make all-electric homes more affordable for builders and to help homeowners maximize their energy efficiency.