Chicago Utility's Rebate Program Boosts Smart Thermostat Adoption, Says Parks

Some 70 percent of U.S. consumers think smart thermostats aren’t affordable, and only 18 percent would buy one at the typical $250 retail price, said a Tuesday Parks Associates report. But utility programs offering consumers a $100 rebate for a smart thermostat more than doubles consumer purchase intentions, said Parks, which reports household smart thermostat penetration of 11 percent. Forty percent of broadband households are familiar with the devices, Parks said. Combined energy efficiency and demand-response rebate programs such Commonwealth Edison’s program in Illinois can boost smart thermostat adoption, said analyst Tom Kerber. Households in ComEd’s territory have bought smart thermostats at a rate 50 percent higher than the national average in the past 12 months, he said.