New Parks Associates research shows consumer adoption of smart thermostats could expand significantly if paired with utility rebate programs. The firm's 360 View: Energy & American Broadband Households Consumers reports 43 percent of U.S. broadband households are willing to purchase a smart thermostat if offered a $25 rebate, 55 percent would purchase if offered a $50 rebate, and 62 percent 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,” said 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.”
Parks Associates found, when a smart thermostat is priced at $50 more than a programmable thermostat without Internet connectivity, 39 percent of consumers would choose the smart thermostat. Those willing to buy increased to 42 percent when the difference was lowered to $25.