Firstly, home is not an effective place of work. I come home mostly to be with my family and not take my problems from work to home.. Aren't there many studies done on the same, why work shouldn't be brought to home and stuff..
Secondly, if the employer provides all the required setup (monitors, webcams, speakers) and support for electricity backups and stuff then I might be willing. The point about electricity backup is very true especially for developing countries.
Thirdly, I'm actually working more (double time) compared to only working 8 hours. This also has to do with my time management but people are actually lazy at home and very hard to be dependent on them..