Consumers Will Pay To Save On Power Costs Say Sharp

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As the NSW Government looks to increase electricity bills by up to $100 to pay for continuity of supply a recent survey by Sharp and GFK has revealed that consumers will pay extra for appliances that save money on electricity costs.

As the NSW Government looks to increase electricity bills by up to $100 to pay for continuity of supply a recent survey by Sharp and GFK has revealed that consumers will pay extra for appliances that save money on electricity costs.

According to a Sharp telephone survey of 1002 adults, consumers are three times more likely to pay more up front for a product that saves on their electricity bills in the long run than they are to purchase the less expensive product now. The survey that was conducted in the USA supports a SmartHouse survey recently conducted in Australia.

Some 72% of respondents to the Sharp survey said that they were more inclined to choose energy-saving product if cost was not an issue.
Bob Scaglione, a senior vice president at Sharp, says the results surprised him. “We had our own feelings that consumers generally were not willing to pay extra when they are standing in front of the product ready to buy. That is why we haven’t charged more,” he says.

Scaglione notes that consumers telling a survey they will pay extra and actually paying extra in the store are two different things. And Sharp did not ask them to spell out how much more they would consider paying.

In Australia flat panel TV vendors like Panasonic, Samsung and Sharp are set to roll out new plasma and LCD TV screens that deliver up to 40% power saving on previous models. This power saving will not cost more say the vendors.

 

The Sharp appliance survey, conducted by market researcher GfK, focused on how being green affects what consumers choose to purchase. Some 82% of respondents said that green features were a factor in their decisions to buy, though only 35% of people said they definitely look for green features.

The survey also found that energy-saving features rated second among four concerns when buying products. Price was the number one issue, while design and brand were the bottom two concerns.

Backing up the Sharp findings is a new global study from the Consumer Electronics Association (CEA).

They say that Consumers are more likely to turn to smart energy meters than home energy audits to reduce energy consumption. In the past two years, about one in 10 households in the USA conducted a home energy audit. Of those who had undergone an audit, 61 percent replaced appliances or CE devices with more energy efficient models. Fifty-six percent of consumers show interest in “smart energy meters” that provide information on optimum times to run appliances for utility bill savings.

CEA finds that 57 percent of consumers believe an equal mix of behavioral changes and the use of new technology will help them conserve household energy. On average, consumers said they would need to see a 31 percent increase in their monthly home energy costs before they would seek out technology options to improve energy efficiency within the home.

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