Energy Services in the Smart Home

Energy Services in the Smart Home analyzes the demand for value-added services that complement electricity service with smart home-enabled monitoring capabilities. The research gauges consumer interest and willingness to adopt these services at varying price points and bundles. The value-added services tested include energy consumption monitoring, energy-efficiency services, and device performance monitoring. It breaks down results by electricity service provider and assesses the impact of stand-alone devices that enable similar features (e.g., smart thermostats, smart appliances, etc.).

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About the Research

Previous Research

360 View: Energy Management, Smart Home, and Utility Programs (Q4/14)

Trends and Segments for Home Energy Management (Q3/14)

Digital Engagement of Consumers: Home Energy Management (Q3/14)

Home Energy Management Adopters (Q2/14)

Expanding Residential Demand Response Adoption (Q1/14)

Leveraging Partnerships to Deliver Home Energy Management (Q1/14)

Key Findings

Industry Insight

Recommendations

Overview of Home Service Adoption:

Adoption of Home Services (Q4/14)

Adoption of Home Services by Making Home Updates/Improvements (Q4/14)

Likelihood of Adopting Home Services (Q4/14)

Likelihood to Adopt Home Services by Age (Q4/14)

Comparison of Those with Home Services vs. Purchase Intenders & Non-Intenders (Q4/14)

Appeal of Value-Added Monitoring Services:

Three Hypothetical Value-Added Services

Appeal of Value-Added Monitoring Services (Q4/14)

Likelihood of Subscribing to Value-Added Monitoring Services (Q4/14)

Comparison of Those Unlikely to Subscribe vs. Likely to Subscribe to Value Added Monitoring Services (Q4/14)

Appeal of Value-Added Monitoring Services by Willingness to Use Technology to Create Time for Family (Q4/14)

Impact of Bundling Value-Added Monitoring Services with Home Services:

Demand for Home Services if Bundled with One or More Hypothetical Value-Added Monitoring Services

Likelihood of Adopting Home Services with Value-Added Monitoring Service (Q4/14)

Comparison of Those Likely to Subscribe to Value-Added Monitoring Services (Q4/14)

Impact of Bundling Value-Added Monitoring Services on Subscriber Acquisition:

Likelihood of Switching Electricity Provider for Incentive (Q4/14)

Comparison of Those Very Willing to Pay vs. Those Unwilling to Pay An Annual Service Fee for Top-Ranked Thermostat Features

Appeal of Bundling Multiple Services:

Appeal of Bundling Other Services with Electricity Service (Q4/14)

Number of Home Services Desired to be Bundled with Electricity Service (Q4/14)

Desire to Bundle Access & Entertainment vs. Home Management Services with Electricity Service (Q4/14)

Desire to Bundle Access & Entertainment vs. Home Management Services with Electricity Service

Publish Date: 1Q 2015

Slides: 47


Authored By:
John Barrett - Director of Consumer Analytics
Tom Kerber - Director, IoT Strategy
Yilan Jiang - Senior Research Manager
David Mitchel - Research Analyst

Published by Parks Associates
© April 2014 Parks Associates | Dallas, Texas 75248

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