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New Parks Associates (http://www.parksassociates.com) research shows consumer adoption of smart thermostats could expand significantly if paired with utility rebate programs.
The research group reports that 43% of U.S. broadband households are willing to purchase a smart thermostat if offered an US$25 rebate, 55% would purchase if offered a $50 rebate, and 62% would purchase if offered a $75 rebate.
"Consumers are interested in smart thermostats but are generally unwilling to pay more for the ability to control a thermostat from a smartphone or computer," says Tom Kerber, director, energy and home controls research, Parks Associates. "Utility incentives that eliminate the price difference between smart and standard programmable thermostats will accelerate adoption."
The research group found that when a smart thermostat is priced at $50 more than a programmable thermostat without Internet connectivity, 39% of consumers would choose the smart thermostat. Those willing to buy increased to 42% when the difference was lowered to $25.