Energy Management and Services in the Home

Report
January 2023
Region: Global
Parks Associates
ID: 5877783

As energy costs rise and outages become more common, consumers seek ways to track their energy consumption, reduce what they use, or generate their own. There is no one-size-fits-all energy solution because habits and trends differ from big families in freestanding homes to singles in apartments. This research examines how customer groups differ in their adoption of devices and programs they use to save energy, money, and avoid blackouts. It includes trending adoption, purchase intention, and shifting consumer perspectives on home solar, energy monitoring solutions, battery storage, and electric vehicles.

Survey Methodology and DefinitionsIntroducing Energy Monitoring

Executive Summary

Electricity costs are too high
Key demographics reporting electricity costs are too high
Actions Taken to Reduce Energy Consumption
Home Solar PV Systems
Demand Response Program Engagement
Time of Use Program Engagement
Smart Thermostat Ownership
Savings by Estimated Percentage of Bill
Savings vs. Expectations
Average Price Willing to Pay for All Listed Home Energy Consumption Management Services
High Interest in Energy Monitoring Devices

Ratepayers: Trying To Pay Less

Consumers’ Perception Regarding Monthly Electricity Bill
Consumers’ Perception Regarding Electricity Bill by Income
Consumers’ Perception Regarding Electricity Bill by Family Size
Consumers’ Perception Regarding Electricity Bill by Home Size
Energy-Saving Actions Taken Over the Past 12 Months
Energy Saving Actions
Energy Saving Action Segments
Attitudes Towards Home Energy Consumption
Attitudes Towards Home Energy Consumption by Consumer Type

Energy Management Concepts & Willingness to Pay

Valuable Tools of Home Energy Consumption Management
Home Energy Consumption Management Value and Willingness to Pay
Average Price Willing to Pay for All Listed Home Energy Consumption Management Services
Cost You Would Pay for Home Energy Consumption Management Service
Cost You Would Pay for Home Energy Consumption Management Service by Income
Cost You Would Pay for Home Energy Consumption Management Service by Home Size
High Interest in Energy Monitoring Devices
Most Likely to Buy Energy Solutions
Preferred Source of Energy Monitoring Solutions
Preferred Energy Payment Methods
Preferred Payment Methods by Willingness to Pay For Home Energy Management Services

Familiarity with Energy Services and Programs

Type of Electricity Provided by the Provider
Energy Program Use
Energy Program Use Details
Interest in Special Energy Program Enrollment
Required Cost-Saving Amount to Participate in Energy Program
High Familiarity with Energy Programs Offered
EV Owner Familiarity with Special EV Rate Plans
Information Source of Special Plan for EV Owners
Top Motivation to Participant in Demand Response Program
Incentive to Participate in Demand Response Program
Duration of Demand Response Event
Demand Response Event Experience
Reasons for Churning Demand Response Program
Reasons for not Participating in Demand Response Program
Likelihood of Paying for Energy Monitoring Service

Power at Home: Generators, EVs, and Solar Panels

Ownership of Major Home Energy Equipment
Adoption of Battery Storage
Major Home Energy Equipment Ownership by Consumer Type
High Familiarity with Major Home Energy Equipment
High Intention of Purchasing Major Home Energy Equipment
High Intention of Purchasing Major Home Energy Equipment by Consumer Type
High Intention of Purchasing Major Home Energy Equipment by Income
High Intention of Purchasing Major Home Energy Equipment by Home Size
High Intention of Purchasing Major Home Energy Equipment by Attitudes Towards Home Energy Consumption

Selling Solar and Charging EVs

Most Appealing Purchase Channel of Energy Device
Most Appealing Payment Method for Energy Device Purchase
Interest Among Solar Intenders who Prefer to Finance the Equipment (31% of all Intenders)
Interest Among Solar Intenders who Prefer Upfront Purchase of the Equipment (35% of all intenders)
Reasons for Not Purchasing Solar Power Products
Purchase Drivers of Solar Panels
Likelihood of Purchasing a Plug-in Electric Vehicle in the Future
Electric Vehicles Charging Frequency by Locations

Smart Thermostats and How They’re Used

Smart Thermostat Ownership

Smart Thermostat Segments Q4/2022

Smart Thermostat Use Frequency

Reasons for Rarely Interacting with Smart Thermostat

Monthly Energy Saving by Using Smart Thermostat

Consumer Perception Regarding Energy Saving

Estimated Monthly Savings by Smart Thermostat Owner/Users

Smart Thermostat Disposal When Moving Home

Age of Smart Thermostat

Smart Thermostat vs. Traditional Thermostat Purchase Drivers

Overall Smart Thermostat Purchase Intention

Overall Smart Thermostat Purchase Intention Among Those Likely to Move in the next 6 months

Households that Don’t Currently Own or Intend to Purchase a Smart Thermostat

Reasons for Not Purchasing a Smart Thermostat

Factors Increasing Likelihood of Purchasing Smart Thermostat

Table of Contents

Related Topics

Related Reports

Home Energy Management Systems - Global Strategic Business Report

Home Energy Management System Market - Global Outlook & Forecast 2024-2029

Home Energy Management Systems Market Report by Product Type, Communication Technology, System Type, and Region 2024-2032

Smart Home Energy Management Device Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029F

Global Home Energy Management System Market, By Component, By Technology, By Application, By Building Type, By Construction, By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2031