According to recent Parks Associates research, nearly 30% of U.S. broadband households value control of their smart home energy devices over cost savings, but approximately one-half of product owners or purchase intenders would permit utility control of their smart appliances in exchange for a product rebate. In addition, 46% of smart thermostat owners or intenders would permit utility control of this device in exchange for a $50 rebate or discount.
The firm’s 360 View: Energy Management, Smart Home, and Utility Programs identifies four consumer segments based on their preferences in acquisition, cost savings, and control regarding smart home and energy management devices. The firm also measures consumer willingness to allow utilities to control smart home devices such as thermostats, water heaters, lighting, and appliances during peak periods.
Parks Associates research shows understanding the importance of cost, control, and convenience among consumers creates an opportunity to leverage smart home devices in energy programs. The research also provides clear evidence that co-marketing programs that take advantage of connected products in the home are a clear winner for utilities.
Parks Associates will discuss this research, and strategies to engage these different consumer segments, at the seventh-annual Smart Energy Summit: Engaging the Consumer, February 22-24, 2016, in Austin. The executive summit will also feature two sessions on partnerships between energy management and smart home products, and the value propositions they can bring to consumers.
For more information on how you can attend the Smart Energy Summit, visit www.ses2016.com.
