83% of research participants correlate “energy efficiency” with a long and uncertain payback period. What does this mean?
It means that a majority of customers hear a regularly used term, energy efficiency, and stop listening. It means that the visions triggered by “energy efficiency” are of new heat pumps, fancy refrigerators and MONEY. It means the extra money on their utility bill is easier to cope with than the price of a solution.
When asked specifically what the term “energy efficiency” means, here’s what the majority of customers said:
- 53% - Energy Efficiency means efficient products and/or technology.
- 20% - Energy Efficiency meansan expensive investment.
- 16% - Energy Efficiency means conservation.
- 10% - Energy Efficiency means not measurable savings.
Interestingly, when asked what “energy savings solutions” means, customers had a very different perception:
- 35% - Energy Savings Solutions means easy-to-implement, DIY tips.
- 32% - Energy Savings Solutions means financial savings.
- 23% - Energy Savings Solutions means conservation.
- 8% - Energy Savings Solutions means immediate savings.
So back to the money, it’s interesting that customers feel they can’t afford programs and solutions to energy efficiency. It also makes sense. If their perception is technology and products, they will most certainly fear the upfront cost.
Could “energy savings solutions” be the key to engaging with customers in a way they feel is tangible? A way that does not give them anxiety of new heat pumps and fancy refrigerators?
We’d love to hear what you think.