Parks Associates hosted its first in-person event of the year. The internationally recognized market research firm’s 13th annual Smart Energy Summit: Engaging the Consumer focuses on 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.
“Parks Associates consumer data reveals that consumers want better home energy insights than they currently get from their utility bills,” said Parks Associates’ Vice President of Research, Jennifer Kent. “At Smart Energy Summit, we heard from companies like EIQHome and Span that have the ability to provide insight into the energy consumed by specific devices and appliances in the home. This information empowers users to take more control of their home energy use and their bill.”
The executive conference was held over three days at the Omni Hotel in Frisco, Texas. Keynote speakers from industry leaders such as Google, Emerson, TXU Energy and more joined the event. The conference also consisted of panels covering a variety of topics such as “Demand Response and Energy Efficiency: Understanding Consumer Behaviors,” “Electric Vehicles: Next Stages of Growth,” and “SMBs: Energy Management Solutions.”
“Parks Associates research shows that 16% intend to purchase an electric vehicle, but many are concerned about the availability of chargers,” said Chris White, Senior Analyst at Parks Associates. “We spoke with leaders from Blink Charging, Chargie, and Electrify America to learn how the expansion of the charging network and new home charging solutions will meet the needs of a soon-to-be booming EV market.”
“At Smart Energy Summit, we spoke with the president of Hoffmann Homes and a leader from EcoSmart Solutions who are building communities with net-zero capable homes with ultra-energy-efficient envelopes, innovative geothermal systems, and rooftop solar that allow residents to minimize energy consumption while maximizing energy resilience when facing regional weather events or blackouts,” White continued. “Parks Associates research shows that 45% of internet households would prefer to live in a home powered by a source independent of the local electricity providers.
Ekemini Usuah, Research Analyst at Parks Associates, shared his thoughts “…top energy industry experts shared various ideas on how to achieve greater awareness of energy management programs. It was widely agreed that more consumers can be reached through greater personalization of messages shared with them.”
“…current demand response programs of the more than 3,800 U.S. utility services are based on proprietary non-standard approaches which require the consumer to sign-up or opt-in,” Ryan Hulla, Research Analyst at Parks Associates, added. “Also, many demand response programs require two-way communication and share personally identifiable information which can also be unattractive to consumers. These impediments are supported by Parks Associates’ recent research which found demand response programs have a low enrollment across the U.S.”
Smart Energy Summit also featured many speakers from our sponsors, research partners, and supporters. Samsung SmartThings, Schneider Electric, and Z-Wave Alliance all participated in different panels and contributed valuable insights. Contact sales@parksassociates.com for more information on event sponsorships.
Don’t miss Smart Energy Summits’ virtual session coming up on April 7th covering the State of Residential Energy Management. This session addresses the changing markets for residential energy management, including consumer adoption and engagement, and new partnerships driving the growth of demand response programs.
