Smart, Clean, Connected: The Future of Home Energy Management

SYNOPSIS:

The smart home provides connectivity that allows consumers and energy service providers to understand and manage energy consumption throughout the home. As adoption of solar, storage, and electric vehicles grows alongside the smart home, utilities have the opportunity to align operation of these devices to the needs of the grid. This research provides insights on consumer interest in clean energy management products and services, including features, price sensitivity, and incentives for energy-efficiency solutions.

ANALYST INSIGHT:

"COVID-19, along with a growing focus on green energy solutions, has added new drivers to adoption of energy management products at home, as well as new interest in solar, electric-vehicle, and other solutions that will help households save energy and become more self-sufficient." - Patrice Samuels , Senior Analyst, Parks Associates.

Table of Contents

Survey Methodology and Definitions

Executive Summary

• Industry Insight
• Consumer Perception Regarding Renewable Energy Sources
• High Familiarity with Major Home Energy Equipment
• Potential Purchase Drivers of Solar Panels
• Willingness to Pay for Power Backup System
• High Likelihood of Allowing Electricity Providers to Make Energy-Saving Adjustments

Impact of COVID-19 on Energy Consumption and Attitudes

• High Concern about Paying Bills during the COVID-19 Crisis
• Remote Worker in Household
• Expected Educational Scenarios for Fall 2020 Semester
• COVID-19 Impact on Interest in Smart Energy Solutions
• High Satisfaction with Handling of the COVID-19 Crisis by Service Providers
• Interest in Evaluation for Home Improvement by a Professional
• Interest in Evaluation for Top Home Improvement Use Cases, by Specific Provider

Energy Efficiency and Demand for Clean Energy

• Type of Electricity Provided by the Provider
• Consumer Perception Regarding Renewable Energy Sources
• Consumer Perception Regarding Renewable Energy Sources by States
• Energy-Saving Actions Taken Over the Past 12 Months
• Energy-Saving Actions
• Energy-Saving Action Segments
• Energy-Saving Action Segments by Age
• Energy-Saving Action Segments by Area of Residence
• Agreement about Energy Supply by Energy-Saving Actions Segments
• Potential Drivers for Making Minor Energy-Saving Actions
• Average Saving to Increase Likelihood of Taking Energy-Saving Actions

Adoption and Demand for Major Home Energy Equipment

• High Familiarity with Major Home Energy Equipment
• Ownership of Major Home Energy Equipment
• High Intention of Purchasing Major Home Energy Equipment
• High Intention of Purchasing Home Energy Equipment by Energy-Saving Action Segments
• Distributed Energy: Payment Preference
• Distributed Energy: Purchase Channel Preference

Demand for Residential Solar

• Potential Purchase Drivers of Solar Panels
• Benefits Increase Likelihood of Purchasing Solar Panels by Energy-Saving Action Segments
• High Likelihood of Purchasing Solar Panels by Monthly Savings
• High Intention of Purchasing Solar Panel with Monthly Savings on Energy Bill, by Age
• High Intention of Purchasing Solar Panel with Monthly Savings on Energy Bill by Children at Home
• High Intention of Purchasing Solar Panel with Monthly Savings on Energy Bill by Various Benefits
• High Intention of Purchasing Solar Panel by Energy-Saving Action Segments

Demand for Batteries and Backup Power

• Frequency of Using Battery to Power the Home
• Importance of Using Solar Panels with Battery Storage
• Important Battery Storage Function for Solar Panel by Age
• Willingness to Pay for Power Backup System
• Willingness to Pay for Power Backup System by Children at Home
• Willingness to Pay for Power Backup System by Generator Purchase Intention
• Willingness to Pay for Power Backup System by Energy-Saving Actions Segments

Electric Vehicle Drivers and Barriers

• Reasons for Not Purchasing Electric Vehicle in 2021
• Frequency of Charging Electric Vehicle
• Reasons for Not Purchasing Electric Vehicle by Income
• Purchase Drivers for Electric Vehicle

Smart Energy Device Adoption and Intention

• Smart Home Device Ownership
• Smart Energy & Lighting Device Ownership
• Smart Energy & Lighting Device Purchases
• Smart Energy Devices: High Purchase Intention

Electricity Providers & Energy Services

• High Familiarity with Energy Programs Offered
• Awareness of Energy Services Offered by Electricity Provider
• Adoption of Energy Programs
• Most Valuable Energy Management Features
• Daily Energy Consumption Breakdown
• Frequency of Tracking Energy Consumption
• Preferred Method of Receiving Energy-Saving Insights

Load Control Program Engagement

• Reasons for Not Participating in Load Control Programs
• Willingness to Adjust or Allowing Manufacturers/Utility to Adjust Energy Products During Peak Periods
• Willingness to Delay Charging Electric Vehicle after Peak Periods
• High Likelihood of Allowing Electricity Providers to Make Energy-Saving Adjustments
• High Likelihood of Allowing Electricity Providers to Make Energy Saving Adjustments by Energy-Saving Actions Segments

Appendix