21 October 2016

Clocks back – consumers in the dark about energy costs?

Are consumers in the dark on how much their electrical products cost to run? Research by the energy efficiency website Sust-it suggests they are. A recent survey of visitors to the site has revealed that seeing the running costs of electrical products has dramatically changed their purchasing intentions and how they use products within their homes. 

When consumers were asked: 

• ‘Has seeing the running costs of electricals influenced any of your purchasing decisions?’ 90% said yes.
• 86% said that knowing the running costs of goods had changed how they use them.
• The research has also indicated that 86% of respondents would be ‘very likely’ or ‘likely’ to pay more for an energy efficient product.

Behavioural changes in the way we use energy are increasingly being seen as a way of reducing energy bills, improving fuel security and reducing carbon emissions. Seeing the running costs of electrical products is clearly influencing how consumers use their appliances and electricals.

The energy efficiency of appliances and televisions has greatly improved over the last 15 years. Refrigeration products consume electricity 24/7 365 days per year and have an average lifespan of over 15 years, many lasting much longer. A 1990s fridge freezer could be consuming twice as much energy as a current average performing A+ model. When asked: ‘Would you consider replacing an old inefficient product, (even if it was working), if it saved you money in the long-term?’ 46% said likely and 20% said very likely.

Ross Lammas from Sust-it said, “The results of our survey have confirmed my gut feeling that showing the running costs of products really does help consumers make informed purchasing decisions. However, it concerns me that those who can ill afford high energy bills are being excluded from buying these efficient products – due to their higher purchase price. My hope is that by providing clear information on running costs and tips on the best way to use appliances, all energy users can run their homes efficiently.”