How do we incentivize (esp. residential) customers for energy efficiency programs when energy costs are so low?
The monetary benefits to customers of energy IoT solutions may only be a few dollars/month.
The key is to think about motivation and incentives more broadly. While efficiency programs have long relied on a rational economic argument, the reality is people are more motivated by social cues and ease of use than ROI. Instead of leading with the pennies to be saved, promote IoT's convenience, increased safety for family members and the coolness factor. Make clear that some of the neighbors have already installed systems. You want people to yearn for these systems so craft an emotional message rather than a dry one based on payback.
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