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Strategy Analytics Sees Emerging Consumer Energy Market Opportunities
New Consumer Energy Strategies Appeal Most to French Consumers
Boston, MA - November 7, 2008 - In a recent six country study of consumers and their evolving energy strategies, French consumers showed the greatest interest in reducing their carbon footprint and improving the energy efficiency of their homes and cars. Covering the UK, France, Germany, Italy, Spain, and the US, this Strategy Analytics report, "Benchmarking Consumer Energy Profiles - Strategic Implications," examined the relationship between conservation attitudes and both the willingness to spend on energy conserving equipment and willingness to change energy use behaviors.
Strategy Analytics examined consumer interest in green behaviors and the potential for adoption of technologies for improved energy profiles, ranging from simple insulation and Compact Fluorescent Lamps (CFLs) to solar and wind turbines.
"With energy prices still high and likely to trend upward over the long run, there is still a large gap between the willingness to adopt relatively low cost improvements and the levels of adoption predicted by payback analysis," said Harvey Cohen, President of Strategy Analytics and chief researcher on this project. "At costs above $1500 (1000 Euros), only 15% of consumers will typically adopt new technologies for energy improvement in the home."
The recently released report, described further in the Research Vistas section of the Strategy Analytics website, also examined consumer willingness to buy cars with improved efficiency. "Our research indicated that 40% of French and Italian consumers showed a strong interest in purchasing a car with greater than 20% better efficiency next time," said Joanne Blight, Director in the Global Automotive Practice at Strategy Analytics. "This is a much better response than that of either British (10%) or German (20%) consumers." She continued, "With a growing array of technologies available to improve energy efficiency in consumer homes and cars, Strategy Analytics believes that understanding consumer behavior and willingness to adopt these products will be critical to government policy makers, energy companies and product vendors."
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