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Parks Associates: 36% of Consumers Would Pay More to Use Power From Renewable Sources

Parks Associates research reveals consumer interest in renewables is growing stronger—56% of US internet households would select renewables as an energy source if costs were the same and 36% say they would pay more to use power from renewable sources. The webinar “Smart Home Energy Solutions: Making a Complex Future Simple” on Thursday, June 28, features Parks Associates research and insights from Schneider Electric on how to help consumers coordinate and diversify their energy usage.

A series of events, from the COVID-19 pandemic to the war in Eastern Europe, have created extreme volatility in the oil and gas markets, which is driving demand for alternatives.

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“With different sources now serving energy to the home and services such as on-demand pricing becoming more common, the energy sector is more complex,” said Chris White, Senior Analyst, Parks Associates. “Energy product manufacturers, builders, and utilities have an opportunity and a challenge to help consumers handle these issues. More effort and education are needed to make these emerging solutions easy to use and to inform households about the options available to them.”

Parks Associates research shows 45% of broadband households made energy-saving renovations or added major energy devices in 2021, which is an all-time high. While smart thermostat adoption has been flat the past few years, consumers are receptive to the benefits of solar panels, including nearly half (44%) who value the savings and one-third (34%) who value the energy independence.

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“We have seen a shift in consumer needs with more people working from home, and their reliance on resilient home energy has become a greater priority,” said Brad Wills, Director, Strategic Customers & Programs, Schneider Electric. “They recognize that this increase in time spent at home is increasing their energy use and, in turn, their costs and carbon footprint. As the desire for more sustainable energy models grows, consumers are seeking new technologies coming to market, transitioning from smart home convenience to a greater focus on smart, sustainable home innovation.”

The webinar features industry discussion addressing new tools and solutions available to US consumers, including energy management, solar, and macro-level trends impacting the electrification of the home. Speakers:

  • Christopher Keefe, Director, Offer Management & Strategy, Schneider Electric
  • Brad Wills, Director, Strategic Customers & Programs, Schneider Electric
  • Chris White, Senior Analyst, Parks Associates

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