Sign me up: Consumers happy to pay for energy monitoring that pays back
Oct. 12, 2010
U.S. consumers are very willing to pay a $5-$10 monthly subscription fee for a service promising 10% savings on their energy bill.
Smartphone owners and those with do-it-yourself security cameras are among those consumers much more likely to sign up for energy management services or purchase energy-saving products. So says a new report from the marketing research firm Parks Associates which found, among other things, that nearly 30% of consumers subscribing to professionally monitored security services indicated that they are very willing to pay a $5-$10 monthly subscription fee for a service promising 10% savings on their energy bill.
Says Bill Ablondi, director, home systems research, Parks Associates, "Current solutions with the best chance for success cross platforms and combine multiple functions. For example, ADT is including an iPhone app with its home surveillance systems, which can be used to adjust lighting and thermostats as well as check security settings."
Product ownership and service subscriptions were much better predictors than demographic attributes and home ownership regarding who is likely to adopt energy management systems and services. "The next step in our research is to probe factors motivating consumers to adopt energy management systems and services," Ablondi said.
