Many consumers also don't know what smart metering is. Nearly half the survey respondents in Victoria, where the smart metering scheme is being rolled out, have never even heard of it.
The new study, released by Connection Research, polled 2700 households in Australia, and quizzed them about energy saving technologies in general. The report, Residential Energy Management in Australia 2010, showed that most consumers are willing to participate in energy saving initiatives, but are unsure where to begin.
"Householders these days are well aware of the rising cost of energy in coming years, and are very willing do whatever they need to reduce their energy consumption through conservation schemes run by the government," says Max Philipson, Research Manager and co-author of the report.
"Whether it is to save energy or just save money, people are keen to be involved in these schemes. But not many do so, because they don't know enough about them," he said.
Philipson adds that incentives such as the Solar Panel rebate and Insulation rebate have gone unnoticed because information about them is lacking, and more than half the survey respondents have not even heard of incentives such as Green Star Buildings ratings, NABERS ratings, or the Green Loans scheme.
Some of the more publicised energy reduction schemes are well known, but have low participation rates. This suggests that while residents might hear about energy saving schemes, they don't know how to participate in them. Nearly a third of the respondents say that the biggest reason they don't participate in energy saving schemes is that they don't know enough about them.