July 2016
Featured in this insight: Climate change & environment, Electricity, Environment & sustainability, Gas, International
Millennials more interested in switching to renewables than older generations: A recent utilities survey by global consultancy firm, Accenture, has revealed that millennials from the United Kingdom are considerably more interested in switching to renewable sources of energy than those aged 55 and above.
Of the respondents aged 18 to 34 years of age, 46 per cent said that they are likely to adopt the use of solar panels within the next five years, in comparison with just 14 per cent of the respondents aged over 55.
The survey gathered the responses of 647 individuals in the United Kingdom to reveal that young people are more intrigued by new technology, for example remote heating applications, with 19 per cent of millennials revealing that they are interested in home energy management, in contrast with just 6 per cent of those over 55.
The researchers discovered that millennials were considerably more likely to switch their energy provider within the next year, with 47 per cent saying that they will switch, as opposed to just 29 per cent of those over 55.
Of the millennials, 80 per cent said that they would switch energy supplier if their existing one did not adopt a seamless customer experience, in comparison with 51 per cent of those aged over 55. The younger demographic was also found to value being able to contact their supplier via social media.
The research findings were gathered as part of a worldwide study by Accenture, whereby they surveyed 9,537 people from 17 different countries, such as Canada, Brazil, the United States and China.
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