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Bundling Energy Management with Smart Home Services Greatly Increases Appeal

Energy efficiency programs are designed to engage consumers and incentivize products or services that save energy. While the appeal of individual energy management solutions is relatively low compared to other smart home services, Parks Associates hypothesizes that bundling energy services with other smart home services, with smart home products, or with traditional home services such as home or appliance warranties and HVAC service contracts, would increase the appeal of energy management services and the resulting bundle.

Parks Associates consumer research shows:

  • 25% of broadband households find value-added monitoring services to be very appealing.
  • 85% of consumers took energy-saving actions in the past year.
  • 7% of U.S. broadband households switched to a more environmentally friendly electricity plan in 2014.

Every consumer is at a different point in their journey toward energy efficiency. Early adopters may own smart products or even distributed generation resources, while others may make more modest investments in time and money to reduce their energy costs. Companies that provide energy efficiency programs to utilities recognize this journey and offer customized incentives to take the consumer to the next level.

The 360 View Update Energy Management Bundles analyzes how bundling energy services with other smart home value propositions can expand reach and appeal of smart home services. For more information, click here.

Each year, Parks Associates hosts the Smart Energy Summit, an executive industry event that focuses on the convergence of energy management and the growing IoT. The 2016 Summit will take place February 22-24 in Austin. For more information, visit www.ses2016.com.

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