Schneider Electric concludes 86 percent of consumers believe climate change will hike energy bills

Through a consumer study, the multinational Schneider Electric determined this week that 86 percent of consumers have linked climate change and rising energy bills, citing conclusions that mankind-induced warming will lead to cost hikes.

Building off this green mindset, a majority of consumers – 72 percent – also highlighted carbon footprint reduction as a personal priority. While over half of respondents – 55 percent – believed in the importance of net zero carbon emissions for their homes and that the responsibility for confronting climate change is on the individual, less than a third believed that they would be able to achieve net zero goals.

“With energy prices on the rise and the cost of living higher than ever, coupled with the growing number of devices and Electric Vehicles (EVs) on the road, home energy management is now one of the biggest areas of consideration for consumers, home builders, businesses and governments globally,” said Jaap Ham, associate professor in industrial engineering & innovation sciences at Eindhoven University of Technology, and a consultant on the report findings. “While these numbers show many wanting to make changes but feeling pessimistic about the difference they can make – the future is truly in our hands as we make dwellings more sustainable with the help of modern home energy management (HEM) technologies.”

Energy efficiency has become a key goal for many, and more than half of respondents to Schneider Electric’s study expected new homes or apartments to come equipped with smart home devices, which make tracking such things easier. More than 40 percent believed such technologies could make their homes more sustainable. This has been complemented by a rise in smart lighting and smart thermostat purchases, now two of the top three most purchased smart devices.

“Consumers in the current energy crisis need to feel they are in control over how energy is produced, stored, and distributed in the home – in terms of sustainability and energy bills,” YiFu Qi, executive vice president of global home and distribution at Schneider Electric, said. “The residential market is at a tipping point, and the good news is the technological solutions already exist, like Wiser, that help consumers lead more sustainable lifestyles and empower them to play a meaningful role in achieving our net zero goals. Our research shows there is a greater understanding amongst consumers about how they can improve their home energy management and that smart home technology can help them be more efficient. The next step is to implement this knowledge before it’s too late.”

According to Ham, the biggest barrier at present is one of mindset. In his view, allowing people to see more of their contribution to a global fight for environmental health will enable them to tear down some roadblocks to taking action.