According to the Rocky Mountain Institute, a large gap exists between consumers’ interest in home performance and their actual investments in home efficiency improvements. Utilities have a tremendous opportunity to develop a new line of services, and RMI’s recent report, The Consumer Connection: A Consumer-Centric Approach to Delivering Home Energy Services, tells power providers how to unlock this market.
RMI researchers found a clear path that consumers follow from being interested in technology to purchasing it for their home. The report helps contractors, utilities and energy auditors understand the pathway and recognize how and when to engage customers, and who is the best messenger for the information. The report also explores the financing options that are most likely to spur residential customers to adopt energy efficiency upgrades.
The basis of the report is a survey RMI’s Residential Energy+ team conducted with 1,210 homeowners from all 50 U.S. states. In addition to learning what types of messengers, financing and timing make most sense to consumers, the team also uncovered other important findings around financing, what customers are willing to pay and what the main motivations are for energy upgrades.
Utility program managers will recognize the triggers that drive home energy upgrades—a new home purchase, a renovation done to sell a home or broken equipment—but the key takeaway is that consumers buy a product when they want it, not when the provider wants to sell it. The study also emphasizes that consumers do not necessarily want to speak to every stakeholder at each step of the process.
Learning which stakeholder is best suited to convey information can be an important marketing tool for service providers. Stakeholders should focus on what they do best and build partnerships with other stakeholders to fill in the gaps and provide consumers with a seamless selection and installation process.
In today’s utility landscape, power providers need a variety of strategies to maintain strong customer relationships and build an environment of trust and collaboration. A customer-centric program that increases homeowners’ investment in energy-efficiency improvements could contribute much to that goal, while supporting utilities’ load management plans.
Download The Consumer Connection for free from the RMI website.
Source: Rocky Mountain Institute Spark, 8/22/18