Franklin Home Power Solution
Last year was the hottest on record in the world, and scientists are expecting similar conditions for 2024. This year also is expected to be one of the most active hurricane seasons ever, with the National Oceanic and Atmospheric Administration predicting there’s an 85% chance of an above-normal season. Unfortunately, extreme weather has become a constant presence in our lives. To explore how much this is weighing on our collective minds, FranklinWH surveyed 1,000 U.S. adults (18+) on related topics.
Extreme weather season is here – are consumers worried?
To put it simply, yes. In fact, more than half (55%) of respondents consider their location of residence to be at risk of extreme weather events, including hurricanes, heat waves, tornadoes and more. There are also clear concerns around the frequency of these events increasing and continued access to power – a major disruptor considering 22 million Americans work from home.
- Eighty percent of respondents expressed concern about extreme weather events causing a disruption to their power supply.
- Nearly three-quarters (74%) of respondents report concerns about extreme weather events becoming more frequent or damaging in the coming years.
- Nearly three-quarters of respondents (74%) also say a power outage during the summer months would be a critical problem for their residence; the percentage increases to 80% for those in the south and 81% for millennials.
- Forty-five percent of respondents believe utilities do not do enough to prevent power outages.
Keeping the lights on – what are consumers willing to do?
The survey results reveal a strong consumer concern for maintaining power during outages, with a significant willingness to pay extra for uninterrupted service. Overall, there is a clear trend toward proactive measures for energy security and efficiency.
- Nearly three-quarters (72%) of respondents expressed a willingness to pay extra on top of their monthly utility bills to ensure an uninterrupted power supply during mass outages.
- Over a quarter (29%) of respondents are considering battery energy storage systems, while 38% are looking into solar panels. Sixty-five percent are inclined to buy a generator.
- Sixteen percent of respondents would participate in a community microgrid.
- Three-quarters (75%) of the respondents would be willing to reduce their energy usage if incentivized by their utility company.
Whole house battery backup – the solution to consumer concerns?
Consumers are willing to invest in energy security and view disruptions, especially during the summer, as a critical problem. Whole home energy management systems can provide seamless battery back-up so that homeowners do not experience disruptions. To even get close to this level of energy security with a generator would require a whole home generator, but even so this technology is at a disadvantage when it comes to operating costs, loudness, environmental impact, and more (check out this article for a breakdown of whole house battery backup cost).
Whole home energy management systems also address other concerns identified in the survey, whether consumers realize it or not. Consumers are willing to pay more for energy security, when in fact whole home energy management systems can provide that security and take advantage of utility pricing structures, such as Time of Use pricing (TOU), to regularly lower energy bills and create a positive return on investment – something a generator can’t do. Homeowners with these systems can also lower grid energy usage when incentives by the utility company by relying on stored power at those times – meaning no disruption to everyday usage.
Click the link to learn more about the benefits of whole house battery back-up.
