In a new Zpryme study sponsored by Itron, Inc. released at ConnectivityWeek this week, The New Energy Consumer, found that 90% of all respondents said it was important for utilities to have the most advanced communications technology to increase energy efficiency and prevent power outages.
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Santa Clara, CA - (Zpryme) – 05/24/11 – In a new Zpryme study sponsored by Itron, Inc. released during ConnectivityWeek this week, The New Energy Consumer, which surveyed 1,082 home owners or renters age 18 – 75 across the U.S. developed, found that 90% of all respondents said it was important for utilities to have the most advanced communications technology to increase energy efficiency and prevent power outages, however only, 23.0% said they wouldn’t mind paying slightly higher rates over a short time period to fund such technology for utilities. Conversely awareness of the Smart Grid was associated with income levels as higher income people were more aware of the Smart Grid. The highest rated potential benefit of the Smart Grid was saving money; the biggest concern was the cost to build it, which likely shows the current state of the U.S. economy currently has a great effect on Smart Grid perceptions. According to all respondents, when asked about how much of a premium they would be willing to pay for Smart Grid technology, 16.9% said a 10% premium. Only 41.0% of the overall sample said they were aware of the Smart Grid, with just 3.9% very knowledgeable. However, 62.3% of HTUs said they were aware of the Smart Grid, with 41.3% very knowledgeable.
“The smart grid provides the platform to bring unprecedented awareness and control to consumers, enabling them to monitor their usage and shift behaviors to save money on their monthly bills, as well as contribute to conserving precious resources”, explained Tom Wilson, Senior Product Manager (Smart Grid Solutions) at Itron, Inc.
The study (available for download at: www.smartgridresearch.org) sponsored by Itron, Inc. and conducted by Zpryme presents a comprehensive look at energy consumption attitudes and perceptions by consumers, the smart grid communication networks and enterprise systems for U.S. utilities in the U.S. The study includes three of the following chapters: New Energy Consumer Survey, Smart Grid Architecture Market Analysis, Itron Q&A
Other findings from The New Energy Consumer:
- 70% of home owners and 66.8% of renters rated their utility as good or outstanding.
- More people monitor/manage their electricity usage on a monthly basis than any other time period.
- The highest rated potential benefit of the smart grid was saving money; the biggest concern was the cost to build it.
- 94% of all respondents said it was important for utilities to have the most advanced communications technology to increase energy efficiency and prevent power outages; however, only 22.0% said they wouldn’t mind paying slightly higher rates over a short time period to fund such technology for utilities.
- Residents who said they wouldn't mind paying higher rates for electricity from renewable sources tended to be male, renters, young, and with higher incomes.
- The U.S. market value for utility enterprise and purpose-built systems and networks for mission-critical operations is projected to grow from $4.2 billion in 2010 to $6.5 billion in 2015. The compound annual growth rate (CAGR) from 2010 to 2015 is projected to be 9.2 percent.
- In 2010, wired networks accounted for 65.0 percent ($477.5 million) of the total communication network value, while wireless networks accounted for 35.0 percent ($257.1 million) of the market. In 2015, wired networks are projected to account for 48.0 percent ($764.8 million) of the total communication network value while wireless networks are projected to account for 52.0 percent ($828.5 million) of the market.
To learn more download the free complete study made possible by Itron at: www.smartgridresearch.org. Also a Zpryme representative will be present at ConnectivityWeek on May 24, 2011 (Mass Market Deployment Strategies – Ballroom H - 3:30PM - 5:00PM PST) to briefly present findings from the study.
To zero-in and network with players in smart grid ecosystem register for ConnectivityWeek (Santa Clara, CA - May 23 – 26) at: www.connectivityweek.com
Zpryme conducted a survey in mid-March 2011 of 1,082 home owners or renters age 18 – 75 across the U.S. was to assess energy usage behaviors, smart grid awareness, energy bill costs, energy consumption trends, utility satisfaction and their preferences to use emerging energy monitoring devices and equipment.
Beginning in 2003 as a building-focused conference, BuilConn has expanded into ConnectivityWeek to meet the evolving needs of the various industries converging around the smart-energy movement, including: major consumption verticals, utilities, and ICT. These industries have the potential to realize significant positive impacts to their bottom line – and the environment – as they integrate the principles of smart, connected energy into their business models. Like all of Clasma’s events, ConnectivityWeek in Santa Clara, California from May 23 - 26 is planned using a collaborative model that ensures the content is most relevant and timely for attendees. It is also organized to provide both the depth and breadth of content necessary to give attendees strategic and tactical direction to move the industry forward:
Register for ConnectivityWeek (Santa Clara, CA - May 23 – 26)
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Tish Smith tishclasma.com +1 (972) 533-6344
At Itron, we're dedicated to delivering end-to-end smart grid and smart distribution solutions to electric, gas and water utilities around the globe. Our company is the world's leading provider of smart metering, data collection and utility software systems, with nearly 8,000 utilities worldwide relying on our technology to optimize the delivery and use of energy and water. Our offerings include electricity, gas, water and heat meters; network communication technology; collection systems and related software applications; and professional services. To realize your smarter energy and water future, start here: www.itron.com.
Director, Itron Marketing & Communications
Zpryme-powered Smart Grid Insight practice help organizations understand their business environment, engage consumers, inspire innovation, and take action. These practices represent an evolution beyond traditional market research and consulting: combining sound fundamentals, innovative tools and methodologies, industry experience, and creative/marketing savvy to supercharge clients' success. At Zpryme, we don’t produce tables and charts; we deliver opportunity-focused, actionable insight that is both engaging and easy-to-digest. For more information, visit www.zpryme.com.