As I pointed out in part one of this series, “6 signs that show the rise of home electrification — and what it means for you,” the opportunity here is tremendous. The question, though, is how to demystify the energy transition for homeowners.
At Innovation Summit North America, we invited industry leaders to discuss what this new energy landscape means for contractors, homebuilders, solar installers, and homeowners themselves. The big question we looked at: How do you seize the moment now and in the future?
I want to share three key opportunities discussed in that conversation that get us toward an answer.
Opportunity #1: Educating homeowners
There’s a lot of uncertainty among our customers. They have questions — you can provide them with answers. That’s one of the simplest ways to win their trust and attention.
Vikram Aggarwal, CFA, CEO & Founder of EnergySage, Inc., the solar industry’s first and only online comparison-shopping marketplace, shared results of a significant consumer research study: Although consumers are excited about their homes becoming smarter, they’re still not fully informed and educated about what home electrification really means. He advises that when talking with consumers about their smart energy journey, keep in mind four key drivers for their decision making: saving money on energy, living sustainably, becoming more energy resilient, and making their homes more comfortable.
Before solar-plus-storage becomes as common as Amazon-plus-Alexa, now is the moment to engage homeowners as their trusted advisor. By providing education and sorting through complexities related to building smart and sustainable homes, you can lead them toward the decision that’s right for them.
Opportunity #2: Simplifying complexity
Complexity is often seen as a challenge to solve. In this case, it’s the opposite.
Tracy K. Price, Founder & CEO, of Qmerit, noted that as the industry moves toward clean electricity, the complexity of implementation is the opportunity. It gives contractors, homebuilders, and solar installers a rare chance to demystify the energy transition for consumers and multi-family property owners. This advisory posture is especially critical as the industry faces an acute shortage of competent, qualified electricians to deliver on the residential energy transition.
Homeowners need guidance in a way that’s offered as simply and seamlessly as possible to assure that their smart energy journey is an attainable, attractive one.
Opportunity #3: Becoming a Rebate Expert
The August 2022 passage of the Inflation Reduction Act (IRA) is a game-changer. (Look no further than part one of this series if you don’t believe me.) And it’s not just the technology that’s complex; it’s the IRA’s incentives.
It’s important to be able to break down the IRA’s many incentives for homeowners. Certain rebates and credits will drive their decision to adopt more solar, implement energy storage, use EVs, update their electrical system, etc. Again, seizing this opportunity comes back to consumer education to help homeowners understand how the IRA can help them become more energy efficient, what the support electrification infrastructure entails, and what it means for their wallets and carbon footprints.
The IRA can significantly reduce the cost of installing solar, upgrading a home electrical system, and more. It’s an opportune moment for you to become an IRA expert so you can help homeowners navigate the complexity on their path to a smarter, more sustainable and energy-resilient home.
The energy future is bright
As we say across Schneider Electric™, “No one decarbonizes alone.” For homeowners who are seeking smarter, more sustainable, comfortable, and resilient homes, we have an opportunity not only to partner together and help them on their path, but also to expand our businesses’ energy offerings. The time is now to embrace the emerging energy landscape, working in tandem for a more sustainable, net-zero future.
Now that you’ve read both articles in the series, it’s time to go even deeper. I recommend this new e-guide, which breaks down the big picture of the IRA, the energy transition, and what it all means for your business.