Nearly one-third of US internet households report intentions to purchase a smart energy device in next six months
A new Parks Associates white paper, Next Frontier of Smart Energy Management, reports strong consumer purchase intentions for smart energy devices—almost one-third plan to buy a smart light bulb (32%), smart plug (30%), and/or a smart thermostat (29%) in the next six months. The whitepaper, developed in partnership with SmartThings, addresses how connected technologies are making energy management and advanced home controls a reality, with implications for utilities, device and EV makers, solar and HVAC companies, and home and multifamily builders.
“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.”
Utilities and energy providers derive four key benefits from integration with smart home solutions: increased consumer engagement with energy management programs, facilitation of smart product integration in demand response (DR) programs, increased adoption of smart products for use in energy management, and 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.”
About Parks Associates
Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. A woman-owned and woman-led company, Parks Associates is a trusted partner and advisor to executives, providing custom research, strategic consulting, and forward-looking analysis across smart home, small business, and commercial markets, including security, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.
Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.
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