Urgent need for the new government to assist homeowners and landlords
According to a new analysis, many commentators want the new Labour government to assist homeowners and landlords in making their homes more environmentally friendly, which is essential. The findings estimate that at least 18 million homes have an Energy Performance Certificate (EPC) rating of D or below. This figure includes homes with an EPC and those lacking one due to not being sold or rented since EPCs were introduced, equating to over half (55%) of all UK housing stock.
Energy efficiency gaps
The data unveils significant discrepancies in energy bills between homes with varying energy efficiency ratings, indicating that the annual average energy bill for a three-bedroom house with an EPC rating of F is £4,431. In stark contrast, the same size house with an EPC rating of C incurs an average bill of £1,669—a difference of £2,762 per year.
Potential green improvements
Green improvements for diverse homes include window upgrades, roof or floor insulation, solar panel installation, or transitioning from a gas boiler to a heat pump. A new study surveying over 14,000 individuals reveals that the primary motivator for implementing green changes is the potential to reduce energy bills.
Support for sustainable initiatives
The study also finds that 87% of renters and 83% of homeowners believe more action is needed to help people make their homes greener. Homeowners and landlords urgently need access to schemes that facilitate these improvements, potentially resulting in substantial savings on energy bills. Each home requires bespoke enhancements, and the upfront costs remain a significant barrier to change.
Overcoming financial barriers
Without additional support, many homeowners and tenants will continue living in high-carbon-emitting homes with elevated energy costs. The new government must implement measures that enable more people to undertake these necessary upgrades.
Time to make your property more energy efficient?
For further information or guidance, please do not hesitate to contact us for professional advice. Understanding your options can help you make informed decisions and achieve a more energy-efficient home. Contact our team today to discuss your options.
Please note: a mortgage is secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
