How Big is the Home Efficiency Improvement Market?
Recently Con Edison sent me a letter warning of rate hikes, thus giving us a green kick in the pants when it comes to finally doing those home upgrades. So this graph caught our eye. Based on research from Green Grid Analytics and Strategy Group it is the result of asking people the likelihood that they will invest in home efficiency improvements in the next year. On one side of the 7-point scale was "no chance" with "certainly" on the opposite end. So just how many consumers project they will invest in Home Efficiency in 2010?The GGASC report Home Owner Investments in Home Efficiency Improvement in 2010 states that 58% of American home owners plan to invest in home efficiency improvement during 2010-2011. GGASC finds that Americans are at different stages of adopting the 'innovative' view of improving home efficiency and sustainable lifestyles, with respondents falling into two or three categories in its distribution, concluding that 58% of Americans are on the end of the scale where they indicte they will invest.
Findings also show that there are no differences between those investing and not investing in terms of gender, age, education, marital status, home size & value, time in home, nor expected time in home. However, Green Grid Analytics sees other meaningful differences between the two groups in terms of values, beliefs and behaviors related to home efficiency and sustainability. To learn more about that juicy info you need to directly contact GGASC, but in the meantime you can peruse the slide presentation below. Another finding indicates that the investors group says they will spend $100-$499 on home energy efficiency improvements this year.