Energy Services in the Smart Home

Energy Services in the Smart Home analyzes the demand for value-added services that complement electricity service with smart home-enabled monitoring capabilities. The research gauges consumer interest and willingness to adopt these services at varying price points and bundles. The value-added services tested include energy consumption monitoring, energy-efficiency services, and device performance monitoring. It breaks down results by electricity service provider and assesses the impact of stand-alone devices that enable similar features (e.g., smart thermostats, smart appliances, etc.).

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About the Research

Previous Research

360 View: Energy Management, Smart Home, and Utility Programs (Q4/14)

Trends and Segments for Home Energy Management (Q3/14)

Digital Engagement of Consumers: Home Energy Management (Q3/14)

Home Energy Management Adopters (Q2/14)

Expanding Residential Demand Response Adoption (Q1/14)

Leveraging Partnerships to Deliver Home Energy Management (Q1/14)

Key Findings

Industry Insight

Recommendations

Overview of Home Service Adoption:

Adoption of Home Services (Q4/14)

Adoption of Home Services by Making Home Updates/Improvements (Q4/14)

Likelihood of Adopting Home Services (Q4/14)

Likelihood to Adopt Home Services by Age (Q4/14)

Comparison of Those with Home Services vs. Purchase Intenders & Non-Intenders (Q4/14)

Appeal of Value-Added Monitoring Services:

Three Hypothetical Value-Added Services

Appeal of Value-Added Monitoring Services (Q4/14)

Likelihood of Subscribing to Value-Added Monitoring Services (Q4/14)

Comparison of Those Unlikely to Subscribe vs. Likely to Subscribe to Value Added Monitoring Services (Q4/14)

Appeal of Value-Added Monitoring Services by Willingness to Use Technology to Create Time for Family (Q4/14)

Impact of Bundling Value-Added Monitoring Services with Home Services:

Demand for Home Services if Bundled with One or More Hypothetical Value-Added Monitoring Services

Likelihood of Adopting Home Services with Value-Added Monitoring Service (Q4/14)

Comparison of Those Likely to Subscribe to Value-Added Monitoring Services (Q4/14)

Impact of Bundling Value-Added Monitoring Services on Subscriber Acquisition:

Likelihood of Switching Electricity Provider for Incentive (Q4/14)

Comparison of Those Very Willing to Pay vs. Those Unwilling to Pay An Annual Service Fee for Top-Ranked Thermostat Features

Appeal of Bundling Multiple Services:

Appeal of Bundling Other Services with Electricity Service (Q4/14)

Number of Home Services Desired to be Bundled with Electricity Service (Q4/14)

Desire to Bundle Access & Entertainment vs. Home Management Services with Electricity Service (Q4/14)

Desire to Bundle Access & Entertainment vs. Home Management Services with Electricity Service

Publish Date: 1Q 2015

Slides: 47


Authored By:
John Barrett - Director of Consumer Analytics
Tom Kerber - Senior Director, IoT Strategy and Custom Research
Yilan Jiang - Senior Director of Consumer Analytics
David Mitchel - Research Analyst

Published by Parks Associates
© April 2014

All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America.

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