Monday, November 28, 2022

Interest in Smart Energy Solutions Growing Among Consumers

It turns out that interest isn’t just related to professionals and government officials. Consumers too, perhaps spurred by discussions around the topic, are becoming more invested in smart energy devices. Once a focus of comfort, such as with smart thermostats, consumers are now gravitating towards these products for their energy savings as well, according to a new Parks Associates whitepaper.

Parks Associates research shows 45% of broadband households made energy-saving renovations or added major energy devices to their households in 2021, which is an all-time high,” said Elizabeth Parks, President and CMO, Parks Associates.

“Consumers are more aware of energy in general as costs continue to rise and as tools such as smart home energy devices and solutions become more available that allow them to track their consumption and make informed decisions on their energy usage.”

According to Parks Associates, however, utilities and energy providers aim to gain significantly for this trend, citing four key benefits when integrating with smart home energy solutions:

1. Increased consumer engagement with energy management programs.
2. Facilitation of smart product integration in demand response programs.
3. Increased adoption of smart products for use in energy management,
4. Increased program awareness through cross-marketing efforts.

“As utilities move into the next stage of energy services, simplifying the architecture and complexity will be critical,” Parks said. “These companies have an excellent opportunity to establish their status as the trusted energy advisor for consumers, informing their decisions on the products and services they will adopt and use to monitor and manage their energy consumption.”

From the article, "Interest in Smart Energy Solutions Growing Among Consumers" by Nick Boever  

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