Many Consumers Remain Unfamiliar With Smart Grid Concepts, According to New Pike Research Survey

Many Consumers Remain Unfamiliar With Smart Grid Concepts, According to New Pike Research Survey

BOULDER, Colo.--(BUSINESS WIRE)-- Smart grid rollouts are building momentum as utilities across the United States continue to invest in this new infrastructure in an effort to transform their power grids. However, even as utilities invest in these new technologies, they struggle to effectively communicate both the benefits of smart grids and the possibilities they make available to the end user. According to a new consumer survey from Pike Research, a part of Navigant's Energy Practice, nearly one-third of respondents (30 percent) were unfamiliar with smart grids, and one-quarter (24 percent) were unfamiliar with smart meters.

"The survey data indicates we are still in the early phase of consumer awareness and adoption of smart grid technologies, and consumers' understanding of the benefits that can be derived from these technologies remains relatively low," says senior research analyst Neil Strother. "Utilities and other smart grid stakeholders must find more effective means of engaging customers with simple, affordable, and helpful energy management products and services."


The survey also indicates that nearly three-fourths (73 percent) of consumers have concerns about the impact electricity costs have on their monthly budgets, and 63 percent are interested in managing energy used in their homes. When it comes to taking action on that interest, however, fewer than half (49 percent) are aware of companies offering home energy management services, and fewer than 40 percent have a high level of interest in participating in programs such as demand response.

The report, "Smart Grid Consumer Survey", details findings from a web-based survey of 1,001 consumers in the United States. The study assesses consumer preferences, opinions, and awareness toward smart grid applications. More specifically, the report analyzes the dynamics of consumer demand, preferences, and attitudes toward several key smart grid product and service categories: smart grids and smart meters, home energy management, time-of-use pricing, renewable energy, prepaid electricity services, smart appliances, and demand response. Pike Research's detailed examination of demand dynamics is segmented by various demographic and behavioral characteristics. The survey was conducted in the fall of 2012 using a nationally representative and demographically balanced sample. An Executive Summary of the report is available for free download on the Pike Research website.

About Pike Research

Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.

About Navigant

Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.

* The information contained in this press release concerning the report, "Smart Grid Consumer Survey," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.



Pike Research
Richard Martin, +1-303-997-7609
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com

KEYWORDS:   United States  North America  Colorado

INDUSTRY KEYWORDS:

The article Many Consumers Remain Unfamiliar With Smart Grid Concepts, According to New Pike Research Survey originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum