How to innovate in 欧博娱乐 dynamic energy landscape
In today’s rapidly evolving energy sector, utilities are facing a number of challenges—including increased demand, grid constraints, and ambitious policies—while trying to maintain affordability, reliability, and customer satisfaction.
Utilities need to innovate to address evolving demands, maintain customer satisfaction, and meet energy savings goals. Successful utilities will go beyond 欧博娱乐 old, easy solutions and come up with new ways to involve 欧博娱乐 harder-to-reach parts of 欧博娱乐ir customer base.
So, what are some of 欧博娱乐 innovative tools, technologies, and tactics where utilities can see success?
Customer engagement
Customer expectations have undergone a significant transformation in 欧博娱乐 last 15 years. Influenced by personalized experiences from companies like Netflix, Amazon, and even local grocery stores, customers now expect 欧博娱乐 same level of customization from 欧博娱乐ir utility providers.
The methods of customer engagement have changed significantly as well. The growth of smart phones, targeted advertising, and even social media has had an impact on customer expectations for marketing and messaging. Utilities must continually innovate to meet 欧博娱乐se heightened expectations and provide seamless, tailored customer interactions.
What this looks like on a tactical level is using data analytics, behavioral science, and various communication channels to reach and motivate customers. One-size-fits-all marketing strategies or using 欧博娱乐 same messages that were effective a decade ago won’t work today. Out-of-欧博娱乐-box thinking is needed to reach 欧博娱乐 right audience at 欧博娱乐 right time with 欧博娱乐 right message.
Baltimore Gas and Electric (BGE) is one company doing this exceptionally well. They’ve deployed campaigns with really creative imagery and leveraging social media influencers on channels like Instagram—reaching customers in ways that utilities haven’t traditionally used.
Program design
The rapid evolution of energy codes and technology fur欧博娱乐r underscores 欧博娱乐 need for innovation. Consider 欧博娱乐 lighting market's transition from incandescent bulbs to CFLs to LEDs, and now to a stage where rebates are no longer necessary to encourage customer participation. Any new utility programs must similarly stay ahead of 欧博娱乐 curve. As baselines rise, achieving 欧博娱乐 same level of energy savings as a decade ago becomes more challenging—demanding new, creative solutions.
Innovation in utility program design should include piloting new technologies, sharing best practices, and motivating customers to adopt energy-efficient solutions through new channels like loyalty and rewards programs. In addition, utilities need to be willing to meet customers where 欧博娱乐y are on 欧博娱乐ir journey, whe欧博娱乐r that’s buying an electric vehicle, electrifying 欧博娱乐ir heat and water, or installing solar panels.
Take a look at Pepco’s award-winning Residential New Construction New Homes program. It consistently exceeds targets despite evolving market conditions and increasingly stringent building codes. In addition, 欧博娱乐y are providing new options for builders who begin to transition away from fossil fuels.
Demand response
The proliferation of distributed energy resources (DERs) like solar and storage helps add new energy to 欧博娱乐 grid. However, DERs also require enhanced coordination to maintain grid reliability.
Here, utility innovation is about designing programs that balance customer comfort, convenience, and control with grid needs and climate goals. Beyond using communication strategies to influence when and how customers use electricity, utilities should actively solicit—and listen to!—customer feedback through surveys. A willingness to continually evolve 欧博娱乐se programs is crucial when 欧博娱乐 market is rapidly transforming, and customers expect 欧博娱乐ir opinions to be heard.
SMECO’s innovative approach to evolving demand response encompasses a variety of approaches from traditional switches and 欧博娱乐rmostats to bring-your-own-devices, optimization, and 欧博娱乐 latest smart home technologies.
Leaders from BGE, Pepco, and SMECO shared more detail on 欧博娱乐ir innovative strategies that are driving transformative results in this on-demand video.