The evolving energy industry is constantly experiencing disruption as new technologies emerge and customer preferences change. In years past, consumers sought safety and reliability from their energy utility, but have evolved to also expect comfort, convenience and control. Energy efficiency and demand response programs, coupled with connected and smart appliances, allow utilities to engage customers and address these new preferences.
The emergence of smart home products, such as smart thermostats monitored through mobile phones, digital keypads offering keyless entry, cameras integrated into doorbells and smart lighting solutions, have led home automation companies to also develop products that support energy efficiency initiatives. For example, while traditional thermostats served a utilitarian function, newer models tend to be programmable, self-learning and sensor driven.
As utilities nationwide have adapted to navigate the new environment and meet their customers’ changing needs, a growing demand for Instant Rebate Tools has emerged. Knowing consumers are firmly rooted in their digital devices and platforms, utilities benefit from teaming up with retailers, in partnership with manufacturers, that sell energy efficient products and offering instant rebates to consumers who buy their products. Instant rebate programs streamline the experience for customers by offering savings in real time and incentivize participation in energy efficiency utility programs. Such tools also help utilities and manufacturers take their customer-centric efforts to the next level.
Value of and Implementation of Instant Rebate Technology
Instant Rebate Tools support the evolving energy business model by allowing utilities to empower customers to make their own purchasing choices, while also decreasing strain on the grid. Instant rebates are fundamental to providing a transformative customer experience as they meet customer expectation, immediately at point of purchase versus delayed traditional mail-in rebates. Knowing a smart thermostat can help the average homeowner save up to $145 per year in energy costs, customers can also expect to see increased savings over time on their utility bills...