Report: 60-80% of U.S. Broadband Home Owners Willing to Pay for Energy-Saving Products
Parks Associates announced today 60-80% of U.S. broadband home owners are willing to pay for energy-saving products such as smart thermostats, smart water-tank controllers, and attic insulation; however, the perceived value varies widely. Consumers will pay $109 for a smart water-tank controller and $77 for a smart thermostat that save them 20% on their energy bills, compared to $256 for attic insulation for the same savings.
The international research firm will present new energy research at the half-day workshop "Understanding Utilities and Consumers: Energy Management Markets" on February 25, 1:00-5:00 p.m. in San Antonio, prior to the fourth-annual Smart Energy Summit. Workshop presenters will discuss detailed research on the home energy management markets and strategies to overcome consumer reluctance to adopt new energy solutions, including case studies from Alarm.com, Wi-Fi Alliance, and UPnP Alliance.
"The level of energy savings contributes only a portion of the perceived value of a product," said Stuart Sikes, President, Parks Associates. "The energy market has a variety of innovative solutions such as Lowe's Iris line and the Nest Learning Thermostat. At our workshop at the Smart Energy Summit, we will discuss strategies to communicate that value to consumers. We will evaluate the strengths and weaknesses of different market approaches, the new challenges of integrating connected CE into home management services, and efforts to balance equipment costs, monthly fees, and system capabilities."