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Consumers report saving $49 a month on electricity on average because of smart thermostat usage

ADT Solar, ecobee Energy, Powerley, Brinks Home, Xcel Energy, and more to speak at Smart Energy Summit

Parks Associates will host the “State of Residential Energy Management” virtual session tomorrow, April 7, starting at 11 am CT/12 pm ET, as part of the 13th annual Smart Energy Summit: Engaging the Consumer conference series. Sponsored by Schneider Electric, SmartThings, Rapid Response Monitoring, Zen Ecosystems, and, Smart Energy Summit addresses the changing markets for residential energy management, including consumer adoption and engagement, and new partnerships driving the growth of demand response programs.

Parks Associates’ latest consumer data from Smart Energy at Home: Renewable, Responsive, Resilient shows that on average, smart thermostat owners and users report saving $49 a month on electricity as a result of the device. More than 90% of owners report they are satisfied with the energy savings from their smart thermostat.

“While smart thermostat adoption has stalled in recent years, our latest research shows that consumers who own them are satisfied with the purchase and are saving money and energy,” said Chris White, Senior Analyst, Parks Associates. “We look forward to bringing the industry together to talk about how consumers will manage their home energy in the future as smart energy products and services gain traction.”

“State of Residential Energy Management” features an executive spotlight session with Bruce Sher, Head of Business Development, LGE Energy Solutions, and two interactive panels, “The Future of Energy: A Paradigm Shift” and “Expanding Adoption: Smart Thermostats and Utility Partnerships,” with the following panelists:

  • Boris Besner, CEO, Okos Smart Homes
  • Kari Binley, Senior Manager, Energy Partnerships, ecobee Energy
  • Abigail Daken, Environmental Engineer, ENERGY STAR Program, U.S. Environmental Protection Agency
  • Jamie Haenggi, Executive Vice President and Chief Operating Officer, ADT Solar
  • Chuan He, Director of Product Management, Wyze Labs
  • Geoff Martin, President & Co-founder, vipHomeLink
  • Anne Arquit Niederberger, PhD, SVP Market Development, Enervee
  • Akash Sah, Chief Procurement Officer, Brinks Home
  • Paul Wezner, VP, Product and Customer Success, Powerley
  • Shawn White, Director, Commercial & Industrial Programs, Xcel Energy

Parks Associates will feature its latest consumer and industry insights throughout the event, featuring data from its ongoing quarterly surveys of 10,000 internet households.

About Smart Energy Summit

Parks Associates’ 15th annual Smart Energy Summit: Engaging the Consumer is co-located with DISTRIBUTECH 2024 on February 27-28 at the Orange County Convention Center in Orlando, Florida.  Smart Energy Summit addresses energy and renewables technology trends in the residential and small-to-medium business markets.

Industry players join expert panels and networking sessions to address the expansion and monetization of energy management and other energy-focused offerings through consumer engagement, new business models, unique partnerships, and innovative technologies.

The conference also features 2024 virtual sessions January 23, July 23, and October 10. Follow the event on Twitter/X at @SmartEnergySmt and #SmartEnergy24. For information on speaking, sponsoring, or attending Smart Energy Summit, visit