Trend Truth: Going Green, Saving Green

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9 in 10 consumers thinks that saving energy in the home is either "somewhat" or "very" important. This TrendTruth asks them what they do to save energy and why, and how they feel about new technology like Smart Grid, which increases network-wide efficiency.

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Trend Truth: Going Green, Saving Green

  1. 1. TrendTruth: Going Green, Saving Green 9 in 10 consumers think saving energy is “somewhat” or “very important.” FGI Research asks what they do to reduce energy expenditures –and why.
  2. 2. Green is the new black.
  3. 3. <ul><li>Companies worldwide rebranding themselves as “environmentally friendly” </li></ul><ul><ul><li>Greening production, distribution processes </li></ul></ul><ul><ul><li>Producing eco-friendly products </li></ul></ul><ul><ul><li>Using recycled materials </li></ul></ul><ul><li>Consumers are going green, too: 9 in 10 say reducing home energy consumption is “very” or “somewhat important” </li></ul>
  4. 4. Consumers want to save money, the earth.
  5. 5. “ If you take steps to reduce your electricity usage, for what reasons do you do so?”
  6. 6. <ul><li>93% of respondents take steps to save energy </li></ul><ul><li>Most (90%) want to save money </li></ul><ul><li>Many (78%) are concerned about protecting the environment </li></ul><ul><li>Some (62%) hope to increase productivity </li></ul><ul><li>Some (57%) want to increase the life span of products in the home </li></ul>
  7. 7. Energy-Saving Tactics <ul><li>Four most common ways to save energy, according to respondents: </li></ul><ul><ul><li>Turn off the lights (95%) </li></ul></ul><ul><ul><li>Use compact fluorescent bulbs (88%) </li></ul></ul><ul><ul><li>Maintain a reasonable indoor temperature (88%) </li></ul></ul><ul><ul><li>Wear seasonable clothes to limit the need for climate control (78%) </li></ul></ul>
  8. 8. <ul><li>Other energy-saving tactics include… </li></ul><ul><ul><li>Unplugging appliances and cellphone, laptop chargers when not in use (73%) </li></ul></ul><ul><ul><li>Using appliances at off-peak hours (69%) </li></ul></ul><ul><ul><li>Investing in home improvements, such as better insulation, to increase efficiency (63%) </li></ul></ul>
  9. 9. Utilities providers can help customers save energy.
  10. 10. Smart Grid <ul><li>Upgrades the power grid to incorporate two-way communication between users and providers </li></ul><ul><li>Easily monitors energy use within the network </li></ul><ul><li>Lets consumers monitor their own energy use with Smart Meter technology </li></ul><ul><li>Reduces costs, energy expenditure, risk of black- and brownouts across the board </li></ul><ul><li>Speeds up service response </li></ul><ul><li>Reduces pollution, increases efficiency </li></ul><ul><li>Reduces the need for additional power plants </li></ul>
  11. 11. The Provider Steps In <ul><li>Smart-grid enabled providers offer incentives, like lower rates, when customers take energy-saving measures like running appliances at “off-peak” (lower-demand) hours </li></ul><ul><li>May link appliances to network so providers can run them remotely to suit these hours </li></ul><ul><li>Consumers forfeit some control in return for lower utilities bills, less environmental impact </li></ul>
  12. 12. Smart grids or not-so-smart grids?
  13. 13. <ul><li>Consumers support smart grid, in general </li></ul><ul><ul><li>50% already use one </li></ul></ul><ul><ul><li>46% open to trying it </li></ul></ul><ul><ul><li>4% not interested in trying </li></ul></ul><ul><li>9 in 10 think a smart grid would save money </li></ul><ul><li>85% think it saves energy </li></ul><ul><li>43% think it would reduce stress by cutting energy prices, expenditures automatically </li></ul>
  14. 14. Potential Downsides <ul><li>62% of consumers worried about not having control over when their appliances run </li></ul><ul><li>40% worried about a loud appliance turning on in the middle of the night, waking them </li></ul><ul><li>48% worried about potential glitches </li></ul><ul><li>60% worried about privacy </li></ul>
  15. 15. “ In your opinion, which of the following are disadvantages of Smart Grid/Smart Meter?”
  16. 16. Actionable Insights <ul><li>Consumers want to save energy for economic and environmental reasons </li></ul><ul><li>Many already take steps to save energy </li></ul><ul><li>Most favor the idea of smart grid technology </li></ul><ul><li>However, many customers also see downsides </li></ul>
  17. 17. Next Steps for Utilities <ul><li>Field an awareness/usage study about consumers’ knowledge of and interest in smart grid </li></ul><ul><li>Educate consumers to assuage their misgivings </li></ul><ul><li>Research how customers feel about smart grid </li></ul><ul><ul><li>Surveys to see general sentiment </li></ul></ul><ul><ul><li>Communities to see subjective concerns </li></ul></ul><ul><li>Engage in ongoing customer research to monitor satisfaction, respond to concerns as they arise </li></ul>
  18. 18. How do we know this?
  19. 19. Survey Methods <ul><li>Dates of Survey: May 25-June 1, 2010 </li></ul><ul><li>Respondents: 131 </li></ul><ul><li>Sample Source: FGI SmartPanel </li></ul>This nationally-representative sample consists of adults aged 18 and up and is balanced to the US population using recent census data. One can say with 95% confidence that the maximum margin of sampling error is ±4 percentage points.
  20. 20. Why FGI <ul><li>Custom online panels </li></ul><ul><li>Branded online communities </li></ul><ul><li>SmartPanel: 100,000+ panelists </li></ul><ul><li>SmartPanel Community </li></ul><ul><li>Human experts who handle each step of the process with you and your customers in mind </li></ul>
  21. 21. FGI Research: custom panels, research experts, dynamic approach.
  22. 22. <ul><li>This TrendTruth is produced by FGI Research. Learn more about the market trends online at our TrendTruth blog… </li></ul><ul><li>… or follow us on Twitter! </li></ul><ul><li>@TrendTruth </li></ul><ul><li>www.fgiresearch.com/category/trend-truth/ </li></ul>

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