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Press release
13 Feb 2024
Two thirds of energy consumers unwilling to spend more time and money to be sustainable - EY research
- 65% of energy consumers know how to start making sustainable energy choices but 70% say they will not spend more time or money doing so
- Consumers struggle to recognize the benefits of their efforts as the energy system falls short on affordability, access and appeal
- Energy companies can seize the opportunity to close the gap between consumer interest and action by engaging and activating every participant
Consumer action will be the critical driver of success in the energy transition. And while energy consumers are more interested than ever in sustainability and the potential of a clean energy future, 70% say they won’t spend more time or money to take action. Consumer fatigue is setting in, stalling confidence, and stagnating progress says EY in the ‘Energy transition consumer insights’ report.
We are at a crucial juncture in the energy transition, where consumer action will determine our success. Despite growing interest in sustainability, consumer fatigue is hindering progress. Energy providers must bridge the gap between consumer interest and action by offering support and solutions. Together, we can play our role in Romania and accelerate towards a fairer, greener, and better energy future.
Consumers lose faith in the “three As” of energy
Over three years, EY surveyed nearly 100,000 residential energy consumers across 21 markets, with the latest insight revealing consumers are less confident in their energy future than they were a year ago. Many say the energy system just isn’t delivering on the three fundamental aspects of the energy experience: affordability, access, and appeal. Only 30% of consumers are confident that their energy will remain affordable and 72% state they can’t absorb a bill increase of 10%. Moreover, while 26% of consumers have a good understanding of terms such as renewable energy and sustainability, this figure has not improved over the last three years.
The findings also show that consumers are diverse – and often irrational – being driven by a wide range of energy values. Creating ‘appeal’ means understanding the complicated drivers of human behavior. Of those surveyed, 77% want their energy provider to offer low-cost energy options alongside high-end products and services. Additionally, 67% seek personalized energy solutions and 18% of consumers would adopt new energy products and services if it was easier to purchase and install them.