The race is on as the globe marches towards a Net Zero future, and millions are rethinking the way they consume energy. As society embraces the mission for a better, cleaner world, consumers are environmentally conscious and expect convenient, personalised, tech-driven experiences.
From consumers to prosumers
As more people aim to reduce their carbon footprint and shift toward the Net Zero movement, a burgeoning new community has formed and is re-shaping the utilities market: the prosumer.
A prosumer is someone who uses and produces energy
At the heart of the prosumer’s relationship with energy is a desire to take advantage of technologies — such as solar power, electric vehicles, wind turbines, battery storage and smart meters. These advancements interweave a personal energy experience at home and in-vehicle to promote sustainability.
Prosumers are more engaged than ever in the way they consume energy — asking more sophisticated questions, seeking sustainable options and expecting more from utility providers.
And the desire for more options doesn’t exclude those who don’t yet produce their own energy. In fact, more than half (59%) of consumers want to turn to their energy providers for advice and support on sustainability, but most providers are falling short.2
of consumers want to turn to their energy providers for advice and support on sustainability
As digitalisation and data-rich experiences begin to mold the future of utilities CX, consumers expect to be guided and supported by their utility providers in their adoption and production of renewables. Savvy leaders in the industry have started spearheading ways to support more consumers in this goal. For example, companies like Arcadia and BlocPower pool resources and use unique financial models to make community solar and eco-friendly retrofits available to people in all types of homes and economic situations.
There’s a massive opportunity for your brand to think through customer experiences, especially considering the next generation of consumers — millennials and Gen Z will make up 60% of the consumer population globally by 2031. In an Oracle energy consumer survey, 47% of Gen Z consumers indicated they would turn to their power company to purchase solar panels and are interested in renewables.3
of Gen Z consumers would turn to their power company to purchase solar panels
Key takeaways
Utility consumers are digitally savvy and environmentally conscious, and many want to produce their own energy, reduce their carbon footprint and find more sustainable ways of living.
They’re looking to providers like you to guide them, provide learnings on their energy usage and offer more options for sustainability.
2 - EY, “When energy hits home, will providers be left out in the cold?” ey.com. 3 - Oracle, “How energy providers will successfully grow beyond the ‘traditional’ business model,” oracle.com.