Providing market intelligence for more than 35 years

Energy

Home Energy Management: Driving Consumer Engagement and New Revenue

Parks Associates’ research reveals that 20% of US broadband households report the COVID-19 pandemic has increased their interest in smart energy solutions that can help them manage their energy use, cost, and comfort. Energy management programs and smart energy solutions can deliver immediate cost benefits to consumers, but the energy industry has generally been unable to find solutions that trigger widespread engagement among their customer base.

Utilities have tried different strategies over the years to engage consumers, including a range of energy efficiency (EE) programs that leverage smart thermostats and smart meter data to deliver energy and cost savings. Despite these efforts, a large percentage of consumers still do not engage with home energy management solutions.

A variety of factors influence whether or not consumers adopt and use a specific solution, including ease of use and timeliness of information. Utilities must adopt new strategies that can account and adjust for these varying factors. To achieve the capabilities and functionality needed, utilities can leverage the expanding presence of connected assets in the home, such as smart thermostats, smart lighting, and smart plugs, to develop a comprehensive digital strategy that improves adoption of their energy management programs and expands their offerings to generate additional revenue.

Download the firm’s complimentary whitepaper Home Energy Management: Driving Consumer Engagement and New Revenue, developed in collaboration with Cox Communications, to learn more about actors that influence whether or not consumers adopt and use a specific energy management solution as well as the impact of new digital strategies that can help overcome barriers.
 

More from Parks Associates

November 19, 2024

Future of Video Speaker Highlight: Vevo

Victoria Marvin, Senior Director of Distribution Operations and Partnerships at Vevo, will be speaki...

Read More

November 15, 2024

Future of Video Speaker Highlight: Crunchyroll

Sheila Green, Vice President of Retention, Curation, Programming, Metadata Strategy, & S&P at Crunch...

Read More

November 14, 2024

Z-Wave Announced as Event Sponsor for 2025

Parks Associates has announced that Z-Wave Alliance will be an Event Sponsor for CONNECTIONS 2025....

Read More
Phone:
972-490-1113
Mailing Address:
Parks Associates 5080 Spectrum Drive, Suite 1000W Addison, TX 75001 USA
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Broadband Small-to-medium Business (SMB) Connected Health
Services
Research Services: Custom and Consulting Research Projects Streaming Video Tracker Security Tracker Smart Home Tracker
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces Upcoming Industry Events
Resources
Press Releases Analyst Blog Parks in the News Connected Consumer Podcast 
About Us
Overview Team Contact Us
Store
View Your Cart

Follow Us to stay informed

© 2023-2024 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive