Consumers Want Smart Home Packages that Reward

by Kaitlin Hawkins | Mar. 21, 2014

Parks Associates recently published two consumer research reports that focus on the state of the home energy and home control markets. The reports, Expanding Residential Demand Response Adoption and Winning Business Models from a Consumer Perspective, analyze the current market demand as well as strategies that could expand consumer participation and adoption in both markets.

The home energy management report finds that 37% of U.S. broadband households are “very likely” to participate in a demand response program with specific rewards that are clearly explained. With this information in mind, the report further examines the consumers most likely to participate in such programs, providing utilities with vital information on how to expand current and emerging programs.

The new connected home research also finds that consumers are interested in specific demand response programs that reward participation. The report shows that nearly 50% of likely smart home buyers would allow a provider to adjust their thermostat in exchange for a reduced monthly fee. Alongside this data, the report also provides potential new revenue models for providers and utilities.

For more information on these reports, click here or contact us online.

Next: Consumers Wary of Service Contracts, Even in Smart Home Services
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