Majority of Americans Choose Energy Efficiency for the Savings it Provides – HomeServe Biannual State of the Home Survey

NORWALK, Conn.–(BUSINESS WIRE)–Concerns surrounding climate change have continued to grow in recent
years, driving government efforts, global initiatives and political
debates around reducing energy consumption – but for most Americans who
plan to make their home more energy efficient in the next 12 months, the
biggest motivator for making the changes comes down to the money it
allows them to save. Among the two-thirds (66 percent) of Americans that
plan to take steps to make their home energy efficient in the next year,
84 percent say saving on their energy bills is the driving factor behind
the changes they plan to make. The findings are from the Winter 2016
edition of the HomeServe Biannual State of the Home Survey from HomeServe
USA
(HomeServe), a leading provider of home repair solutions and
turnkey energy-related services. The survey is a biannual
report on the financial impact of home repairs and energy use facing
American homeowners, and was conducted online by Harris Poll on behalf
of HomeServe in February 2016, among over 2,100 adults ages 18 and older.


Cost Savings Driving Homeowners to be More Energy Conscious

As the presidential election process heats up, major national and global
issues from the economy to climate change are amplified and are at the
center of regular discussion. While heavily debated legislative efforts
such as the
Environmental Protection Agency’s Clean Power Plan
hope to create
change from a top-down approach, buy-in from everyday Americans on
energy efficiency at the household level will also be necessary to see
progress on climate change initiatives. HomeServe’s survey results
suggest that leveraging the financial benefits of energy savings to
influence homeowners to be more energy conscious could be an effective
strategy – one which will require significant, collaborative efforts
between utilities and capable utility partners to support.

The desire to implement energy efficiency tactics are potentially
reflected by other findings from the survey. More than two in five
Americans (42 percent) say they expect their winter home energy costs to
stay the same compared to last winter, while a quarter (25 percent)
expect costs to decrease. The Summer
2015 edition of the HomeServe Biannual State of the Home
Survey
, based on a survey conducted in July 2015, found
that just 10 percent of Americans expected a decrease in their home
energy costs in the following 12 months. The perception during the
winter – which generally is a period of time that homeowners experience
the highest energy bills – that costs are to decrease, could
suggest that warmer
global temperatures
and a significant
decrease in natural gas and oil prices
have led Americans to be less
concerned about heating costs. This is emphasized by the 41 percent of
Americans in the Northeast, who usually endure harsher winters relative
to the rest of the country, saying they expect their winter energy costs
to decrease compared to last winter. Additional support for this premise
can be found by comparing thermostat settings from the July 2015 survey
to February 2016. The July survey found 40 percent of Americans saying
they planned to adjust the thermostat to be a few degrees hotter/cooler
in the following year to make their home more energy efficient, while
the February survey found that a lower 36 percent said the same.

“Despite the major issues discussed and debated on the national stage,
the majority of Americans appear to be motivated by cutting costs to
improve the financial wellbeing of their household,” said Tom Rusin, CEO
of HomeServe USA. “Whether it’s energy efficiency improvements or
protection from the expense of unexpected, emergency home repairs,
HomeServe has continued to empower homeowners with the solutions and
support they need to achieve these goals.”

Available Funds for Emergency Home Repairs Still Low Among Homeowners

The February 2016 HomeServe Biannual State of the Home Survey
also found that 23 percent of homeowners have no savings set aside to
cover the cost of an emergency home repair, a slight improvement from
the 25 percent who reported this in July. Of the homeowners that have
some money set aside, 43 percent have $1,000 or less set aside, a
reduction from the 52 percent reported in the July
survey
. While the amount of savings homeowners allocated for such
costs improved slightly compared to the previous survey findings, the
percentages are still concerning, considering the disparity between
reality and expectations of homeowners on matters of emergency home
repairs. HomeServe found that 69 percent of homeowners thought it was
unlikely that they would experience a major home repair emergency in the
next 12 months – but more than half (59 percent) reported having
experienced one in the past 12 months. Furthermore, that number was up
from the 48 percent of homeowners who reported experiencing a home
repair emergency in the Summer
2015 edition
of the survey.

“We find that many homeowners are still unaware that certain repairs
aren’t covered by basic homeowner’s insurance, which leaves them
susceptible to the high costs of emergency home repairs they never
expected and often can’t afford,” added Rusin. “We have built a
reputation on providing reliable, high quality solutions for homeowners
that are affordable to protect them from absorbing extra expenses –
something that, as our findings suggest, is very important to Americans
nationwide and will continue to be in the future.”

For more information on affordable repair plans and energy solutions
available from HomeServe, visit www.HomeServeUSA.com
or contact HomeServe toll-free at 1-877-444-7750.

Survey Methodology

This survey was conducted online within the United States by Harris Poll
on behalf of HomeServe from February 3-5, 2016 among 2,178 adults ages
18 and older. The 2015 survey was conducted from July 17-21, 2015 among
2,024 adults ages 18 and older. This online survey is not based on a
probability sample and therefore no estimate of theoretical sampling
error can be calculated. For complete survey methodology, including
weighting variables, please contact hsusa@icrinc.com.

About The Harris Poll

Over the last 5 decades, Harris Polls have become media staples. With
comprehensive experience and precise technique in public opinion
polling, along with a proven track record of uncovering consumers’
motivations and behaviors, The Harris Poll has gained strong brand
recognition around the world. The Harris Poll offers a diverse portfolio
of proprietary client solutions to transform relevant insights into
actionable foresight for a wide range of industries including health
care, technology, public affairs, energy, telecommunications, financial
services, insurance, media, retail, restaurant, and consumer packaged
goods. Contact us for more information.

About HomeServe

HomeServe USA Corp (HomeServe) is a leading provider of home repair
solutions serving over 2 million customers across the US and Canada.
Started in 2002, HomeServe protects homeowners against the expense and
inconvenience of water, sewer, electrical, HVAC and other home
emergencies by providing affordable coverage and quality local service.
HomeServe, an A+ rated Better Business Bureau Accredited Business,
dedicates itself to being a customer-focused company supplying
best-in-class repair plans and other services through leading municipal,
utility and association partners, and directly to consumers. For more
information about HomeServe, a Connecticut Top Workplace winner again
for 2015, a 2015 BBB Marketplace Excellence Award honorable mention for
Website Marketing and winner of five 2015 Stevie Awards for Sales &
Customer Service, please go to www.homeserveusa.com,
follow us on www.twitter.com/homeserveusa
and like us at www.facebook.com/homeserveusa.

Contacts

MEDIA:
HomeServe USA
Myles Meehan, 203-356-4259
Myles.Meehan@homeserveusa.com
or
ICR,
Inc. for HomeServe USA
Sourav Das, 203-682-8283
hsusa@icrinc.com

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