News & Trends
insulation or buy a new water heater, so it
might actually keep you from selling your
home if you haven't made energy-efficient
improvements."
The study also found:
When hypothetically given money for a
home improvement project, homeowners
consistently prioritized remodeling a kitchen
or bathroom. Replacing windows, a project
with dual benefits (aesthetic and energy efficient), was a consistent second priority, which
has edged out flooring upgrades for the past
few years. HVAC or furnace replacements
rounded out the top three responses.
Higher income homeowners were less
likely to prioritize energy efficiency (20
percent of households earning $100,000+,
compared to 33 percent of those earning less
than $25,000). Prioritization of comfort, on
the other hand, was significantly correlated to
age. Thirty-four percent of homeowners aged
45+ chose comfort, compared to 26 percent
of younger homeowners.
Only 11 percent admitted that "making my home more beautiful" was their top
priority. But in a later question meant to
double-check honesty about home spending
priorities, it was revealed that 55 percent were
likely (with 19 percent of those "very likely")
to make non-energy efficiency improvements
to their homes (e.g., kitchen or bathroom
renovations, new carpet, tile or hardwood,
etc.) in the near future. This is significantly
higher than the overall average likelihood
(12 percent) for making energy efficiency
improvements in the same timeframe.
Homeowners' primary barrier to undertaking more energy-efficient improvements
continues to be cost. When asked why they
haven't done more to improve their homes,
most (44 percent) said, "It would be expensive." "There are other renovations I want
to do first" was the second most common
answer, while 9 percent selected a new option,
"I'm not willing to replace things that are
working fine."
So what's the solution? According to the
study, new messaging directions that elicit
stronger, more emotional responses rather
than "save money" messages should help
encourage homeowners to prioritize energyefficient improvements.
"Linking energy efficiency to home value
is a powerful messaging strategy," said Shelton.
"It seems we have work to do to convince
homeowners that energy-efficient improvements are worth the investment, both for
lower utility bills and increased resale value."
Visit www.sheltongrp.com to learn more
about the agency and www.sheltoninsights.
com/product/energy-pulse to learn more about
the survey.
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www.fueloilnews.com | FUEL OIL NEWS | DECEMBER 2013
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