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Jan 11, 2018

Only 30% of consumers believe that smart thermostats are affordable

IoT research workshop addresses consumer adoption of smart energy and the role of incentives in expanding engagement in residential energy management

Smart energy research by international research firm Parks Associates reveals only 30% of U.S. broadband households believe that smart thermostats are affordable and only 18% of consumers would purchase one of these devices for $250, the historic price point for products such as Nest, ecobee, and Honeywell Lyric. Parks Associates will present consumer research and strategies to increase adoption of smart energy solutions during the research workshop “The Role of Energy Providers in the Smart Home” prior to the start of the ninth-annual Smart Energy Summit: Engaging the Consumer.

“Utilities are actively working with device manufacturers to drive adoption of energy-saving solutions,” said Tom Kerber, Director, IoT Strategy, Parks Associates. “Smart thermostats have demonstrated significant energy savings, and financial incentives have a dramatic impact on the value judgement made by consumers. Offering a $100 rebate on a smart thermostat more than doubles the percentage of homes that intend to purchase the product.”

Consumer Attitudes and Ownership: Smart Thermostats | Parks Associates

The research workshop takes place Monday, February 19, and includes detailed findings from Parks Associates’ consumer and industry studies on the smart home, IoT, and energy management markets.

Topics for the workshop include:

  • Crossing the Chasm: Smart Home Solutions
  • Expanding Adoption
  • Incentivizing the Smart Home
  • Whole Home Energy Efficiency
  • Utility Role in the Smart Home
  • Moving into the Smart Home
  • Time-of-Use and DR Incentives
  • Successful Rollout of TOU
  • HVAC Maintenance Services
  • Energy Providers and HVAC Services
  • Solar and Storage
  • Moving the Residential PV Market Forward

The 2018 Smart Energy Summit, which will be held February 19-21 at the Omni Austin Downtown in Austin, Texas, includes keynotes by executives from Itron and Meritage Homes. The event will feature more than 300 high-level executives in an intimate networking environment and the agenda includes keynotes, presentations, and speaker panels from experts in energy management, with discussions on current technologies and consumer research. Conference sponsorsinclude Rapid Response, Affinegy, Alarm.com, Austin Energy, Carrier, Innotrail, Powerley, Trusource Labs, The Weather Company, and Whisker Labs.

Parks Associatesis accepting press pass requests for Smart Energy Summit: Engaging the Consumer at www.parksassociates.com/ses-presspass. To speak with an analyst or request specific research data, contact Julia Homier at Julia.homier@parksassociates.com or 972-996-0214.

About Smart Energy Summit

Smart Energy Summit: Engaging the Consumer examines the changing role of utilities and energy providers in the IoT era and offers research and insights on new opportunities to empower consumers with smart solutions to manage and save energy in the home. The conference addresses key questions for energy providers around leadership and alignment of goals between residential energy management solutions and the grid and presents strategies to expand business and revenue goals by incorporating smart products into energy programs.

Smart Energy Summit focuses on identifying opportunities across converging ecosystems to create new value in energy solutions through partnerships that leverage connected devices, energy management, utility services, and home control platforms and services. Research analysts, thought leaders, and industry executives present and discuss business strategies, case studies, partnership opportunities, and consumer research that utilities, service providers, retailers, and manufacturers can use to expand and monetize their energy offerings.

The eleventh annual Smart Energy Summit will take place February 17-19, 2020, at the Omni Austin Hotel Downtown in Austin, Texas. The summit agenda features leaders from utilities, state and national regulators, telecom and security companies, retailers, and OEMs. Follow the event on Twitter at @SmartEnergySmt and #SmartEnergy20. For information on speaking, sponsoring, or attending Smart Energy Summit, visit www.ses2020.com.