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  • Writer's pictureThe Cedar Crest Team

How Energy-Efficient Is Your Property?

Opportunities and challenges British homeowners encounter


 

How Energy-Efficient Is Your Property?

 

Research has shed light on British homeowners’ opportunities and challenges when making their homes more energy efficient. Nearly 40% of UK homeowners now deem improving the energy efficiency off their property a key priority. This change in attitude comes in the wake of rising energy costs from early last year. However, an astounding 40% confess they have no idea how energy efficient their property is, making it challenging to determine where to start with enhancements.


 

ENERGY EFFICIENCY BLIND SPOT


With the UK having some of the world’s oldest houses and ranking among the worst insulated in Europe, this knowledge gap is a serious concern. Especially considering the country’s ambitious aim to achieve net-zero emissions by 2050.


 

SOLAR POWER THE GREEN DREAM


Solar panels have emerged as the green improvement of choice for homeowners. With energy bills remaining significantly higher than pre-pandemic levels, the desire to undertake ‘green’ home improvements continues to surge. For 31% of homeowners seeking to make eco-friendly changes, installing solar panels is their top choice. This is closely followed by double or triple glazing (30%) and radiator upgrades (27%).


 

THE POTENTIAL OF SOLAR POWER


According to the research, the average annual energy bill for a UK household stands at £2,074. However, the Energy Saving Trust suggests that by switching to solar power, homeowners could potentially save up to a quarter of this cost (£525 per year). This saving could increase even further when you factor in home battery storage or higher-paying tariffs under the Smart Export Guarantee (SEG) when selling excess energy back to the National Grid.


 


cost barriers

BARRIERS TO GOING GREEN


Despite the potential benefits, nearly half of the population (49%) view cost as the biggest obstacle to improving energy efficiency. Additionally, 22% are reluctant to borrow money to make their property more energy efficient due to doubts over whether the investment would be reflected in their property’s resale value.


According to Rightmove’s 2023 Greener Homes Report, a more sustainable home could indeed offer financial benefits. For instance, improving a property’s Energy Performance Certificate (EPC) rating from an F to a C could potentially add an average of over £55,000 to the value of a home.


 

FINDING THE RIGHT TRADESPEOPLE


Another challenge homeowners face is finding skilled tradespeople to carry out these improvements. Only 22% of people have successfully found tradespeople with the necessary skills.


 

UNDERSTANDING YOUR HOME’S ENERGY EFFICIENCY


With only 31% of Britons aware of their home’s EPC rating, it’s clear there’s room for improvement. Understanding this rating is a crucial step towards making homes greener and can provide valuable guidance on other measures homeowners could adopt to improve their home’s energy efficiency.


 

TAKING THE FIRST STEP TOWARDS A GREENER HOME


If you want to save money on your energy bills, understanding how energy-efficient your property is should be your first step. Every property has an EPC report, an excellent starting point for identifying potential changes that could make your home greener.


 

>> LOOKING FOR A MORTGAGE THAT’S A PERFECT FIT? <<


We’ll take everything into account and provide the right mortgage for you.




Cedar Crest Ltd – telephone UK T: +44 (0) 203 883 1017,

HK T: +852 6645 4462 – email info@cedar-crest.co.uk 


Your home may be repossessed if you do not keep up with repayments.


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