Parks Associates research shows that saving money increases interest in smart home devices among 60% of broadband households with no previous purchase intentions. Utility and energy providers in particular can use this interest to their advantage in order to incentivize consumers to purchase energy-efficient devices like smart thermostats and cut back usage during peak hours, saving money and power.

According to research from Parks Associates, over 11% of U.S. broadband households own at least 1 smart thermostat and 45% of smart thermostat owners received some kind of discount from their energy provider. In addition, 49% of broadband households in the U.S. are willing to adjust their lighting during peak hours, either via their utility company or by doing it themselves. Offering discounts or rebates for smart home products lowers the affordability barrier to purchasing. By permitting consumers to purchase their own devices at retail locations and then receive a rebate, energy providers are can increase device adoption while being able to decrease energy usage.

Denise Ernst, Vice President of Parks Associates, will be speaking in PLMA’s complimentary webcast, “Smart Home and Demand Response: Impact of BYOD, Voice and Renewables” on January 31, 2019 at 12:30 PM ET.

Register today for insights about the impact of voice controls on the residential energy ecosystem as well as new developments with net-zero energy homes and community solar. 

These topics will also be key during Parks Associates’ 10th-annual Smart Energy Summit, taking place February 18-20 in Austin, TX. Keynote speakers include Direct Energy, EnergyHub, Itron, Next/Google, and Tendril. For more information, visit www.ses2019.com.

Further Reading:

• Home Energy Management: Road to Net Zero
• 21% of households very familiar with rebates or other purchase incentives for energy-efficient products
• 2019 Connected Home & Entertainment Trends