Cost is a deciding factor for consumers’ home energy choices, whether adopting green energy such as solar, switching utility providers, or using a smart meter.
Barriers to Solar Adoption
When asked about reasons for not installing solar in the next two years, consumers cited the following:
- Cost is too high to be possible: 48%
- Can’t afford the upfront cost: 36%
- Don’t think it would save me money: 29%
- Can’t afford the ongoing cost: 26%
- Don’t own my home: 22%
- Don’t know enough about it: 18%
- Not available in my area: 15%
- Don’t know how to get it installed: 11%
- Other: 2%
Switching Home Energy Providers
Transparent pricing is the main priority for nearly half (49%) of respondents when considering switching home energy providers. Other important factors include:
- Cheaper/more transparent pricing: 49%
- Better customer service: 39%
- Easier to switch: 36%
- More environmentally friendly: 34%
- Faster to transfer from one provider to another: 32%
- Better digital experience (e.g., easy-to-use app, online customer service): 31%
- More reliable service: 30%
- Other: 2%
Green Energy Preferences
A significant majority (70%) of people said they would choose to purchase energy from green sources, indicating a widespread commitment to sustainability. However, 41% were unsure of the options available to them through their utility providers.
- Do you purchase energy from renewable sources from your utility provider?
- Yes: 30%
- No: 29%
- Unsure: 41%
- Does your utility provider offer options to buy energy from green sources?
- Yes: 29%
- No: 30%
- Unsure: 41%
Use of Smart Devices for Home Energy
Most people (71%) do not currently use a smart device for managing or tracking home energy. Among those who do, the main reasons are:
- To save money: 53%
- To reduce my carbon footprint: 34%
- To make my life easier: 32%
- To track my energy usage: 31%
- To get better deals: 28%
- To get more reliable service: 27%
Reasons for not using smart devices include:
- Don’t see the value: 36%
- Don’t know enough about them: 33%
- Too expensive: 32%
- Don’t know how to use them: 28%
- Not available in my area: 27%
Environmentally Friendly Vehicles
The trend towards more environmentally friendly vehicles continues, but concerns about battery range and price are slowing the widespread adoption of electric vehicles (EVs).
- EV Ownership: 16%
- Hybrid Ownership: 27%
EV and Hybrid Ownership by Age
- 18-24: EV 20%, Hybrid 29%
- 25-34: EV 19%, Hybrid 28%
- 35-44: EV 16%, Hybrid 27%
- 45-54: EV 14%, Hybrid 26%
- 55-64: EV 14%, Hybrid 25%
- 65+: EV 13%, Hybrid 24%
Probability of Purchasing or Leasing an EV or Hybrid for Next Vehicle
- Definitely: 11%
- Very probably: 19%
- Probably: 21%
- Not very probably: 25%
- Definitely not: 24%
Reasons for Considering an EV or Hybrid
- Lower fuel/energy costs: 53%
- Better for the environment: 52%
- Subsidies or financial incentives: 37%
- Reliable battery range: 29%
- Available to buy and lots of choice: 27%
Connected Technology in Vehicles
Expectations for vehicles pre-fitted with connected technology are now mainstream, with almost all people (93%) disclosing at least one connected feature they want in their next vehicle. Important connected features include:
- Backup or rear-view camera: 49%
- Bluetooth or wireless connectivity: 46%
- Navigation system: 45%
- Remote start: 41%
- Wi-Fi hotspot: 39%
- Connected smartphone apps: 38%
- Connected driving assistance: 36%
- Connected entertainment: 33%
- Connected safety features: 32%
- Other: 7%
Vehicle Purchase Channel Preferences
The dealership remains the preferred purchase channel for vehicles. Nearly 60% of respondents prefer to physically visit a dealership over purchasing online.
- Visiting a car retailer or dealership in person: 32%
- Would prefer to do some steps online and some at a dealership: 25%
- Online through a retailer or dealership website: 18%
- Online through a third-party website: 10%
- Other: 15%
Willingness to Pay for Connected Features
While people expect technology from their smartphones to be standard in new vehicles, half (50%) of respondents are willing to pay more for it, with the UAE being the most willing to pay a premium.
- The same technology that is available on a smartphone should be standard features in a vehicle:
- Strongly agree: 31%
- Agree: 41%
- Neither agree nor disagree: 17%
- Disagree: 6%
- Strongly disagree: 3%
- I am willing to pay more for a vehicle with connected technology features: 50%
Willingness to Pay More for Specific Connected Features
- Backup or rear-view camera: 41% Yes, 41% No, 18% Not sure
- Bluetooth or wireless connectivity: 41% Yes, 41% No, 18% Not sure
- Navigation system: 40% Yes, 41% No, 19% Not sure
- Remote start: 39% Yes, 41% No, 20% Not sure
- Wi-Fi hotspot: 38% Yes, 41% No, 21% Not sure
- Connected smartphone apps: 37% Yes, 41% No, 22% Not sure
- Connected driving assistance: 36% Yes, 41% No, 23% Not sure
- Connected entertainment: 35% Yes, 41% No, 24% Not sure
- Connected safety features: 34% Yes, 41% No, 25% Not sure
Digital Shift in Car Purchases
The shift to digital is slower when it comes to physical car purchases. 87% of people are still reliant on their dealer. However, a growing number will increasingly prefer to complete the initial steps of their purchase journey online.
Online Activities in the Car Buying Journey
- Compare vehicles (make, type, model, reviews, ratings): 49%
- Read about vehicle specs, features, and options: 46%
- Find local dealers and check inventory: 36%
- Research vehicle pricing and deals: 28%
- Negotiate price or terms: 24%
- Request a quote: 21%
- Apply for financing or lease: 19%
- Value a trade-in: 18%
- Reserve a vehicle: 17%
- Apply for insurance: 17%
- Schedule a test drive: 17%
- Purchase accessories: 15%
- Arrange delivery or pickup: 13%
- None of the above: 37%
Preferences for Online vs. Dealership Activities
- Compare vehicles: Online 45%, At dealership 11%
- Read about vehicle specs, features, and options: Online 43%, At dealership 12%
- Find local dealers and check inventory: Online 38%, At dealership 16%
- Research vehicle pricing and deals: Online 36%, At dealership 18%
- Negotiate price or terms: Online 28%, At dealership 26%
- Request a quote: Online 27%, At dealership 25%
- Apply for financing or lease: Online 25%, At dealership 27%
- Value a trade-in: Online 24%, At dealership 28%
- Reserve a vehicle: Online 23%, At dealership 29%
- Apply for insurance: Online 22%, At dealership 30%
- Schedule a test drive: Online 21%, At dealership 31%
- Purchase accessories: Online 20%, At dealership 32%
- Arrange delivery or pickup: Online 19%, At dealership 33%
Key Takeaways:
- Cost is a deciding factor for consumers’ home energy choices, whether adopting green energy such as solar, switching utility providers, or using a smart meter.
- Transparent pricing is the main priority for those considering switching home energy providers, with a better digital experience also appealing.
- 70% of people would choose to purchase energy from green sources, but 41% are unsure of their options.
- Most people do not use smart devices for home energy management, but those who do are motivated by cost savings and environmental benefits.
- The adoption of environmentally friendly vehicles is growing, but concerns about battery range and price remain barriers.
- Consumers expect connected technology in vehicles and are willing to pay more for it, especially in markets like the UAE.
- The shift to digital in car purchases is gradual, with most people still relying on dealerships, though online research and initial steps are increasingly common.