Smarter Energy at Home: Intelligence, Coordination, Services

Description

SYNOPSIS:

Data centers and the rise of AI processing are creating incredible demands for energy on the grid. In the consumer market, rising electrification of home appliances and growing adoption and charging of EVs at home are placing new electricity demand for consumers and straining the grid further. Smart home products provide a growing foundation for utilities and energy providers to shift demand to better manage the grid. Greater intelligence and coordination among smart energy-consuming devices empower consumers to lower energy costs and serve advance utilities' demand-response capabilities.

This research explores US households' engagement with smart energy solutions and programs. It examines familiarity, adoption, and satisfaction with energy-efficient equipment and programs, including EV charging, solar and demand response. The survey assesses consumers' attitudes toward managing energy usage through smart devices, AI and services, to identify barriers and motivators for adopting energy innovations.

INFOGRAPHICS

Key questions addressed:

1. How do households perceive and manage their energy costs?
2. What insights do consumers desire about their energy consumption and from what market players do they most prefer to receive insights?
3. What is the level of familiarity and participation in energy programs like time-of-use tariffs, and demand response programs?
4. What motivates or hinders participation in demand response programs, and what is the experience for participants?
5. What is the current adoption of major energy equipment like solar, smart electric panels, and home battery storage?
6. What are consumers' preferences for energy storage use cases, including backup for outages, calling on batteries when rates are high, and coordinating battery use with EV charging?
7. What are the drivers for electric vehicle (EV) adoption and home charging solutions, and what are consumers' charger installation preferences?

ANALYST INSIGHT:

"Consumers are actively seeking ways to reduce energy consumption, with simple actions like adjusting settings and shifting usage to off-peak hours leading the way. Consumers are also open to demand response programs, especially with real-time incentives like instant bill credits, and energy security is a growing priority due to grid instability and rising demand." - Daniel Holcomb, Senior Analyst, Parks Associates.

Introducing Energy Monitoring

Executive Summary

Attitudes Towards Home Energy Consumption
Energy Saving Actions
Net Promoter Scores (NPS) by Sector
Electricity Provider NPS, by Energy Program Familiarity and Participation
Participation in Energy Programs
Preferred Incentive to Allow Electricity Provider Adjust Thermostat
Willingness to Share Energy Usage Data Between Devices
Purpose of Smart Home Device Integration
Interest in Energy Management Tools, by Smart Home Device Adoption
Interest in Electricity Storage Solutions
Appeal of Home and Portable Battery Solutions

Energy Costs and Consumption

Average Monthly Expenditure
Average Electricity Price to Residential Customers
Consumer Perception of Monthly Electricity Bill
Consumer Perception of Monthly Electricity Bill by Home Size
Consumer Perception of Monthly Electricity Bill by Family Size
Attitudes Towards Home Energy Consumption
Not Enough Time/Info to Reduce Energy by Households with Kids
Energy-Saving Actions Taken Over the Past 12 Months
Energy Saving Actions
Trends of Likelihood of Starting Major Home Renovation Projects
Purpose of Starting Home Renovation Project
% Selecting Energy Efficiency as Driver for Home Renovations

Smart Thermostats: Adoption, Intentions, NPS

Smart Thermostat Adoption and Recent Purchases
Overall Smart Thermostat Purchase Intention
Overall Smart Thermostat Purchase Intention among Those Likely to Move in the next 6 months
Overall Smart Thermostat Purchase Intention among Those Likely to Start a Home Renovation in the Next 6 Months
Net Promoter Score: Smart Energy Devices
Smart Thermostat NPS, Trending

Energy Programs: Familiarity & Use

High Familiarity with Energy Programs Offered
Participation in Energy Programs
Energy Program Use
Energy Program Use Details
Likelihood of Participating in Utility Programs in the Future

Satisfaction with Electricity Provider

Attitudes Toward Electricity Provider
Net Promoter Scores (NPS) by Sector
Electricity Provider NPS, by Energy Program Familiarity and Participation

Demand Response: Incentives, Churn, and UX

Demand Response Participation
Information Source for Demand Response Programs
Top Motivation to Participant in Demand Response Program
Incentive to Participate in Demand Response Program
Estimated Number of Demand Response Events Called in Past 12 Months
Duration of Demand Response Event
Demand Response Event Experience
Reasons for Not Participating in Demand Response Program
Barriers to Demand Response Participation by Gender
Barriers to Demand Response Participation by Age
Reasons for Churning Demand Response Program

Smart Home Devices & Demand Response

Products Consumers are Willing to Adjust Themselves During Peaks
Products Consumers Will Allow Manufacturer or Utility to Adjust During Peaks
Willingness to Adjust Products During Peaks, Among Smart Product Owners
Preferred Incentive to Allow Electricity Provider Adjust Thermostat

Tracking & Monitoring Tools: Consumer Use and Interest

Receive Electricity Consumption Breakdown from Energy Provider
Frequency of Reviewing Consumption Breakdown
Electricity Consumption Breakdown Review Methods
Monitoring Home Energy Usage Through Other Applications among All US Internet Households
Monitoring Home Energy Usage Through Other Applications among Owners of Specified Devices
Valuable Tools of Home Energy Consumption Management
Interest in Energy Management Tools, by Smart Home Device Adoption

Preferred Providers and Willingness to Share Data

Willingness to Share Energy Usage Data Between Devices
Willingness to Share Energy Usage Data Between Devices, by Device Ownership
Current Integration of Multiple Smart Home Devices Work Together
Purpose of Smart Home Device Integration
Preferred Provider for Energy Usage Monitoring and Optimization App

Tracking Equipment Adoption: Solar, Storage, Electric Panels, EVs

High Familiarity with Major Home Energy Equipment
Ownership of Major Home Energy Equipment
High Intention of Purchasing Major Home Energy Equipment

EV Ownership and Charging

Ownership of Plug-in Electric Vehicles
Vehicle Purchase Intentions: 12 Month Outlook
Type of Vehicle Intenders
BEV/PHEV Purchased in the Last 12 Months
Reasons for Choosing an EV Over a Gas-Powered/Hybrid Vehicle
Attitudes Toward Electric Vehicles by EV Ownership
Preferred Charging Location of Electric Vehicles among EV Owners & Intenders
Preferred Charging Location of Electric Vehicles by EV Owners or Intenders in Q4 2024
EV Charging Equipment At Home
Acquisition Channel of Home Chargers
EV Charging Pain Points
Information Source of Special Plan for EV Owners

Solar, Storage Drivers and Benefits

Solar Ownership
Solar Purchase High Intentions
Reasons for Not Purchasing Solar Power Products
Interest in Electricity Storage Solutions
Appeal of Home and Portable Battery Solutions
Adoption of Battery Storage
Frequency of Using Home Battery to Power Home
Home Battery Purchase Timing