Millennials Among Those Least Likely To Own IoT Devices And Participate In Utility-Sponsored Energy Management

PHOENIX, Feb. 15, 2017 /PRNewswire-USNewswire/ -- Millennials – those aged 18-29 -- are among those least likely to own an Internet-of-Things (IoT) product and participate in utility-driven energy management programs, according to a new survey conducted by the Association of Energy Services Professionals (AESP) and Essense Partners.

AESP embarked upon the research to study whether energy-related IoT products is linked to participation rates and satisfaction with demand response programs. Energy-related IoT products in the study included smart thermostats, power strips,  air conditioners and washing machines.

The survey of more than 2,700 consumers asked people in various age groups whether or not they owned IoT home solutions, and whether they participated in what the industry defines as demand-side management programs that their utilities sponsor. Millennials were the least likely to own IoT devices:

• 18-29 Years Old: 15 percent yes; 85 percent no
• 30-44 Years Old: 21 percent yes, 79 percent no
• 45-59 Years Old: 19 percent yes, 81 percent no
• 60 and Older: 16 percent yes, 84 percent no

Furthermore, even among those who own IoT products, millennials are still the least likely age group to participate in utility programs, with one-half the program participation rate of the 30-44 and 45-59 year old groups, and nearly one-third of the participation rate of the 60 and older segment.

"We might expect to see a lower rate of participation among younger people who may not be homeowners yet; however our survey found a consistent trend of higher participation rates as people get older. This will inform future planning and design of participation programs," said Suzanne Jones, COO of the Association of Energy Services Professionals.

The survey also addressed participation rates geographically. The highest participation rates were found in the Pacific region (WA, OR, CA), followed by the Mid-Atlantic (PA, MY, NJ) and the South Atlantic (MD, DE, DC, WV, VA, NC, SC, GA, FL).

The lowest rates of participation were found in the east south central (TN, MS, AL) and west south central (OK, TX, AR, LA) regions.

There was little difference in participation rates between males and females.

AESP and Essense will continue to track the issue and release additional data emanating from this and related surveys.

SOURCE Association of Energy Services Professionals