Smart meters are increasing people’s awareness of their energy consumption and leading to a reduction of energy usage. This is one of the key findings from research commissioned by Compare the Market, which looks at how smart meter ownership is impacting energy engagement.
The majority (71%) of those polled who have smart meters* say that the device has made them more aware of their energy consumption, with a third (34%) stating that their smart meter has made them “a lot more aware”. Half (49%) of respondents say that they have decreased their usage following the installation of a smart meter.
Households are using their smart meter devices more and more. Nearly two thirds (63%) of smart meter owners check their meter or dashboard at least once a week. A third (32%) check their consumption on a daily basis. The vast majority understand their smart meter readings and displayed information, albeit with varying degrees of certainty.
However, some challenges remain. More than two thirds (68%) of those polled have not yet had a smart meter installed and a quarter (26%) haven’t even been offered a smart meter by their energy company. One in ten (11%) are aware of the first-generation smart meters’ compatibility and functionality issues and have decided to wait until the second generation is rolled-out before getting one installed.