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More than 50% of U.S. broadband households would be willing to pay $5 per month for a smart thermostat service

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Smart energy research shows consumer interest in options and price points for hardware-as-a-service sales models for smart thermostat, smart home kits, HVAC systems, and solar panels

New energy research from Parks Associates shows more than 50% of U.S. broadband households would be willing to pay $5 per month for a smart thermostat service that includes setup, installation, and repair/upgrades. The firm tested multiple hardware-as-a-service scenarios in 360 View: Energy Management, Smart Home, & Energy Providers and found that while consumers are generally averse to monthly fees, they are willing to pay for services with clear value that include tasks they cannot or do not want to perform on their own.

Parks Associates reports more than 50% of U.S. broadband households are interested in hardware-as-a-service options for smart home kits, HVAC systems, and solar panels, when presented with a lower price point. Energy and service providers can use the energy data from these services to build additional value-added services, including real-time energy management services.

360 View: Energy Management, Smart Home, & Energy Providers quantifies the thermostat and lighting markets, identifies major channels for each product, and profiles owners and those likely to purchase. It also examines consumer preferences for bundling energy products, services, and recurring revenue models.

Additional insights include:

56% of U.S. broadband households believe it is very important to have an energy-efficient home, but only 9% think their home is very energy efficient.
13% of U.S. broadband households own a smart thermostat, and approximately 60% were self-installed.
More than 15% of U.S. broadband households own a back-up power generator.

Reliable ControlsFor more information about Parks Associates' research, contact sales@parksassociates.com.












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