Recession Could Lead To More Energy Savings

More people are looking to save on energy during the recession.

Let’s put it bluntly. Power bills suck. This is especially the case if your finances have taken a hit, as many people discovered during the recent recession. But there may have been a silver lining. To cut costs, people have started to try PC power management, have bought an energy saving computer, and taken other steps to cut energy consumption, and this may even become more of a trend in the near future, according to Global Information Inc. One new report by GII and Pike Research titled “Home Energy Management” said more people are looking to reduce home energy bills.

“For the past decade, market and analyst expectation had been that a smarter grid would enable the wider use of new tools and incentives for consumers to use energy more efficiently,” GII said. “People would save money, and utilities would benefit from lower overall consumption. However, the home energy management market continues to struggle for more traction. Indifference to the promised potential savings, a resistance to paying extra for HEM hardware, unsettled standards for interoperability, a crowded vendor space, and lukewarm support by some utilities have halted consumer uptake.”

Even though that sounds bad, GII said research has shown that this view may be starting to change, as there is a growing sentiment that home and business energy bills need to be lowered. The company believes the green sentiment will grow and help drive adoption across the country.

The report said market forces may be countered by indifference from certain consumers, but there will be some gains where mandates for green energy set by the government have the most bite. Green energy savings may not take off everywhere right away, but people will most likely start to see others changing and saving money and want to get in on the action themselves. Pike and GII’s report addressed what kind of technology will be the most helpful, who the major players are and what region will have the best opportunities for the HEM vendors of the world.

Have you tried going green at all in your own home? What kind of results have you had? Are you interested in saving further on costs? Let us know!

Matt Williams

A self-proclaimed ‘tech geek’, Matt has worked in technology for a decade and divides his time between blogging and working in IT. A huge New York Giants fan, when not watching football Matt gets his game on playing Call of Duty with his friends and other tech bloggers.