In the News

Smart homes aim for consumers’ wallets as energy costs soar

Date: 03/23/2014

Company: EcoFactor

Source: CNBC

As interest builds around innovative “smart home” technology designed to help conserve energy and save money, a new study suggests consumers are slowly hopping on the bandwagon.

A brutal winter has left many feeling the pain of soaring utility bills. Yet a new University of Michigan study suggests households have been slow to adopt cost-saving measures, even as most fret about paying more for home energy than gasoline.

The survey, from the university’s Energy Institute, showed that respondents expected their utility bills would rise by 30 percent in the next five years, a far steeper rate than the 15 percent jump they expect to see for gas. But the increase would have to hit about 50 percent for them to make major changes, the survey found.

Read full story at CNBC

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