Thursday, April 22, 2021

Only 26% of US broadband households report high familiarity with electric vehicles

Consumer survey of 10,000 US broadband households provides insights on interest in clean energy and smart energy management solutions

New research from Parks Associates reveals consumer interest in clean energy solutions has expanded, with 43% of US broadband households stating they would prefer to live in a community powered by solar energy, but low familiarity with energy devices is still a barrier for adoption for most households. The firm’s “Smart, Clean, Connected: The Future of Home Energy Management,” a survey of 10,000 US broadband households, notes that only 26% of respondents report they are “very familiar” with electric vehicles, despite the fact that a growing number of products are now on the market.

The research also notes lifestyle changes due to COVID-19 have renewed some interest in these solutions—20% of US broadband households report that COVID-19 has increased their interest in a smart energy solution that would help them manage their energy use, cost, and comfort. 

“Almost a third of US broadband households report they are ‘very concerned’ with their ability to pay the bills–a number which has increased as the pandemic continues on,” said Patrice Samuels, Sr. Analyst, Parks Associates. “Consumers are interested in solutions that help them save money on energy bills. This is still the leading driver for solar panel sales. For electric vehicles, cost and access to charging stations are the two key barriers to wider adoption, so tax breaks plus sharing information on availability of chargers and distance the car can travel on a charge can help reduce consumer reluctance.”

Parks Associates’ twelfth annual Smart Energy Summit: Engaging the Consumer features the session “MDUs: Leveraging Proptech for Smart Energy Management”on April 28, with executives speaking from ENTOUCH, Latch, PointCentral, SmartCon Solutions, and SmartRent. The conference is sponsored by Bidgely, Grid4C, Austin Energy, dcbel, Flo, American Water Homeowner Services, and Very. Smart Energy Summit’s interactive discussions address the evolution of the consumer utility market, the impact of COVID-19 on energy management programs, and new opportunities to drive engagement in utility-sponsored programs. 

“The industry still has to work hard to provide visibility to new clean energy products and emphasize the savings value and price breaks for consumers,” Samuels said. “Nearly one-third of those who do not own solar panels are likely to purchase them if they reduce their energy costs by 50%. Younger consumers are also far more likely to purchase solar panels at any given level of savings on a monthly bill.”

For more information on Smart Energy Summit, go to www.smartenergysmt.com.

To schedule an interview with an analyst or to request specific data, please contact Rosey Ulpino at rosey.ulpino@parksassociates.comor 972-490-1113.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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