Analyzing markets for {open_quotes}new products{close_quotes}
- Researach Triangle Institute, Research Triangle Park, NC (United States)
Utilities across the U.S. have been promoting energy-efficient technologies for several years. However, questions remain about the best way to design programs to market these technologies to achieve the desired market penetration. This paper describes the conjoint analysis that Research Triangle Institute (RTI) conducted to estimate residential customer purchase likelihoods for heating technologies, including high-efficiency air-source and geothermal heat pumps, in the Niagara Mohawk Power Corporation (NMPC) service area. Conjoint analysis is a technique for eliciting customers` preferences for a set of {open_quotes}product{close_quotes} profiles where a {open_quotes}product{close_quotes} - in this case heating technologies - is defined as a collection of product characteristics or attributes (e.g., initial cost, fuel type, etc.). We used the predicted purchase likelihoods from the conjoint analysis in EPRI`s MarketTREK software to forecast the market penetration of high-efficiency air-source and geothermal heat pumps under NMPC`s current rebate program an under alternative program designs (e.g., low-cost financing).
- Research Organization:
- Electric Power Research Inst., Palo Alto, CA (United States); Pacific Consulting Services, Albany, CA (United States)
- OSTI ID:
- 103252
- Report Number(s):
- EPRI-TR--105012; CONF-930969--
- Country of Publication:
- United States
- Language:
- English
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