Consumers Would Rather Use Less Energy Than Pay More Taxes for the Environment

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Consumers Would Rather Use Less Energy Than Pay More Taxes for the Environment

14 September 2023 / Quick Take

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Insight for What’s Ahead

The Consumer Confidence Survey^® of 2,145 US respondents shows most consumers are willing to change their energy consumption at home, while fewer are willing to change their habits/lifestyle or try sustainable brands/products.

Looking Ahead

Price and convenience are important motivators of change. An earlier survey by The Conference Board showed that most consumers are concerned about and have been affected by climate change. Businesses should explore which environmentally friendly changes their target segments would be willing to make and consider augmenting products/services to aid these lifestyle changes. Products and services that not only benefit the environment but also creatively cater to the demands of convenience and affordability can tap into this market.
Consumers are reluctant to pay higher taxes for clean energy. Paying more taxes to fund clean energy sources ranked lowest (12 percent) among changes people would be willing to make to positively affect the environment. This reluctance could pose a challenge to government efforts to push clean energy. To navigate this, government agencies should find a balance between funding environmental initiatives and minimizing the financial strain on taxpayers.

Author

Meenakshi Janardhanan

Meenakshi Janardhanan

Research Associate, Marketing & Communications
The Conference Board

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