Deregulation in the energy industry has given way to a rise in renewable energy and more consumer choices. More options in the market mean that the purchase power of energy buyers has increased, and they have shown that sustainability and cost-effectiveness are now prominent market drivers. The consumer needs that renewable energy has uncovered and created is critical for all in the energy sector to be aware of, as these practices are becoming a standard. Let’s take a further look at the growing trends in solar energy, the changes in consumer behaviors, and what this means for energy providers.
Solar Trends in the Energy Industry
The solar energy sector is growing, big time. More and more consumers are switching to solar, and a survey done by Business Insider shows that of respondents, 73% said they plan to do so within the next three years. The decreasing energy cost of renewable resources are giving consumers energy choices that they haven’t had access to before, and this is changing the way energy needs to be marketed.
How Solar Is Changing Consumers
There are two main reasons why consumers are switching to solar energy: savings and choices. Customers who are primarily cost-conscious are likely to want a simple, cost effective solution to their energy needs. These customers are going to look for a supplier with a strong brand name and easy, affordable energy solutions. The customer who wants choice in their decision process is going to look for tailored solutions as they are often unhappy with just standard energy solutions. They want to work with someone to create their tailored energy plan, and are going to expect excellent customer service and help. More and more customers are looking to save money and tailor their energy consumption to their personal needs, which means that energy providers now have to focus on what the consumer wants, not just what they are regulated to do.
How This Changes Customer Relationships
Disrupted by new information, increasing environmental consciousness, and consumer power, the new energy marketplace will continue to be more competitive, so new business models will be necessary. As customers gain more buying power, it is now on the energy provider to create a relationship with their customer base, putting more emphasis on helping the customer figure out what the best energy solution is for them. and create stratified marketing solutions for these two emerging customer demographics. Now that you know about the changes in consumer needs in the energy market, let us help you address the new needs of your consumers.
By MassLive Media Marketing Staff