Research provides insights on energy devices and impact on solar energy investments 

Parks Associates released new consumer research today showing consumers are increasingly comfortable self-installing smart energy devices, such as smart light bulbs, smart thermostats, and smart plugs/adapters. Energy Management, Utilities, and Smart Home, featuring a survey of 10,000 US broadband households in Q4 2018, reports that 59% of smart thermostats were self-installed, 79% of smart light bulbs were self-installed, and 68% of smart lighting control systems were self-installed.

“Smart-energy consumers are DIYers, so utilities with broad BYOD (bring your own device) programs are able to target the largest segments of smart home device ownership,” said Denise Ernst, Vice President, Parks Associates. “Retail is the dominant sales channel for smart energy devices, including both brick-and-mortar stores as well as online retail. Partnerships with these third parties can help utilities expand offerings and improve customer satisfaction.”

Parks Associates Chart Smart Energy Lighting Devices Installation

The research also finds that 76% of solar PV owners are interested in a system that connects smart thermostats and water heaters in order to optimize their investments.

“Depending upon the state policies on renewable energy, the investment in solar energy for the home has too long of a perceived payback period,” Ernst said. “By integrating with other devices in the home, this payback period can be reduced.”

Energy Management, Utilities, and Smart Home provides insights on consumer interest and participation in energy management products and services, including the appeal and role of incentives in awareness and adoption of energy-efficiency solutions. It examines non-participants to reveal strategies to involve more consumers in energy programs and provides details on consumer awareness, participation, and interest in value-added services related to smart energy devices, including the impact of demand response programs. 

Additional research from Energy Management, Utilities, and Smart Home:

  • 54% of US broadband households do not know if their electricity provider offers energy programs.
  • 35% of smart home device owners are knowledgeable about rebate programs.
  • 32% of smart thermostat owners report that rebates, discounts, or coupons did not have any impact on their purchase decision, but two-thirds report those offers did impact their decision.   
     

About Parks Associates

Parks Associates helps companies identify new opportunities, refine strategy, and accelerate growth in connected technology markets through data-driven insights and industry expertise. With more than 40 years of experience, the firm delivers proprietary consumer and industry research, market forecasts, and strategic analysis that guide business decisions across personal, connected home, small business, and commercial technology ecosystems. Parks Associates supports clients in navigating evolving markets including AI, security, smart home, broadband, entertainment, energy, multifamily, smart buildings, and connected health.

The firm also fosters industry growth and collaboration by convening thousands of leaders each year through its flagship executive conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video.  Learn more at https://www.parksassociates.com.

Follow Parks Associates on LinkedIn, Facebook, and Instagram.