Consumers want to save on their power bills, but they need to know how much.
Our Utility Pulse™ 2013 survey shows that 42 percent of utility customers are less than satisfied with their electric utilities.
Previous Daily Insights have noted that utilities can improve that number by connecting customers with energy efficiency rebates they might have previously left on the table.
Today, we touch on the importance of managing the expectations of savings they’ll get by investing in energy efficiency improvements.
One of the most common reasons Utility Pulse participants give for not achieving the savings they expected was, “The promised savings were exaggerated.”
When we tell Americans they’ll save money on their power bills but not how much, it creates an information vacuum that consumers will fill with unreasonable expectations – and they’ll end up disappointed.
When asked in Energy Pulse 2012™, “How much would you expect to save each month on your utility bill in order to justify spending $4,000 on energy efficiency products or improvements?” the average answer was $139 (which is 85 percent of the average reported monthly bill).
On the other hand, when we tell them they’ll save 10 percent on their bills, they will likely be satisfied and tend to think better of their power company.