Majority of people plan to counteract rise in energy costs actively

Press release – Wednesday, March 09, 2022

The perception of current energy price increases among people is high, as the latest EUPD Research study shows. For more than two-thirds of surveyed German households, rising energy prices result in specific actions. Besides optimizing their own energy consumption, about one-third considers purchasing a photovoltaic (PV) system. Because of high energy prices, one-fourth of interviewees view buying an electric car as an interesting option. Households that have exhausted all energy saving potentials, see no need for action. These are results of a recent analysis in the context of this year's Energiewende Award for energy suppliers. The Award will be presented to the most innovative energy suppliers of the DACH region at the innovation platform „The smarter E Europe“ on May 12, 2022.

Bonn. The perception of and dealing with energy price increases are object of a recent study by Bonn-based consulting firm EUPD Research in the context of this year's Energiewende Award. The survey among 500 households shows that a little more than half of the interviewees mostly perceive energy price increases when fueling their cars. Additionally, one-fourth of interviewees see a connection between the rise in energy prices with an overall increase in consumer goods prices. For twelve, seven and four percent of survey participants energy price increases are revealed in their gas, electricity or oil bill.

Where do you most notice increased energy prices?

Further results reveal that two-thirds of homeowners derive specific actions as a result of rising energy prices. The most dominant action named is a behavioral change regarding their own energy consumption in order to realize cost savings. About half of the survey respondents intending to optimize their energy consumption, name the purchase of more efficient electrical appliances as a measure to reduce energy usage. About 41 and 38 percent of interviewees consider a change of supplier for electricity and oil/gas respectively. In order to minimize externally sourced electricity and to reduce energy costs, 36 percent of survey participants plan to buy a PV system to allow for self-consumption of solar electricity. With about one-fourth each, the exchange of the heating system or the switch to electric vehicles are named as two more specific measures to combat increasing energy prices.

In your opinion, are there any concrete actions resulting from the energy price increases? (I)

More than one-third of the 500 interviewed homeowners do not see a need for specific actions for different reasons: About half of the respondents believe they have exhausted all saving potentials in their households. About 31 percent of this group states to become only active once diesel-fueled cars or oil-heating is being banned. A little more than one-fourth of those interviewees is waiting for more attractive funding while every fifth lacks knowledge about energy savings or the possibility for own energy production. The relatively small share of people (9 percent), for whom energy costs do not play a major role, shows that energy costs are generally highly relevant.

In your opinion, are there any concrete actions resulting from the energy price increases? (II)

"Because energy costs are climbing from one record to another, citizen instinctively focus more and more on energy costs. Our most recent market research results demonstrate a distinct sensibility for energy prices in the population. The high willingness to implement measures to counteract high energy prices or energy demand, can clearly be seen as positive. High energy prices accelerate started development to invest in an own photovoltaic system or electric car", comments Dr. Martin Ammon, Managing Partner of EUPD Research, on the latest results.

Energiewende Award for energy supplier

The most innovative energy providers will be honored with the Energiewende Award for the 6th time at the innovation platform “The smarter E Europe“, taking place on May 12, 2022. The Award is addressed to highly engaged energy suppliers, who promote and accelerate the Energiewende (Energy Transition) in the DACH region. The project initiators are the DCTI Deutsches CleanTech Institut (German CleanTech Institute), The smarter E Europe and EUPD Research. Before this year's ceremony, previous Energiewende Award winners are invited to discuss opportunities and challenges of the energy transition with political representatives.

Further information about the Energiewende Award can be found at www.energiewende-award.de. In case of questions, please contact Saif Islam, at +49 (0) 228 97143-20 or islam@energiewende-award.de.

Additional information about the innovation platform „The smarter E Europe“ is available at www.thesmartere.de.

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