Research from Norton Finance has ranked six of the most cost-effective energy-saving home improvements as Ofgem announces the 80% increase in the price cap for energy - with the cost starting at just £3.
These figures show how mid-terrace households could save nearly £10,000 on fuel bills within five years.
1. Draught-proofing is one of the cheapest and most effective ways to save energy and money.
DIY draught-proofing starts at just over £3 for a roll of self-adhesive draught-excluding tape. Block up unwanted gaps around windows, doors and chimneys that let cold air in and warm air out. Doing this could save around £669 on fuel after 5 years.
What you’ll spend: £3
What you’ll save: £669
2. Roof insulation
Just like going out in cold weather without a hat, as much as a quarter of heat can be lost if your roof isn’t insulated. The loft of a mid-terrace house costs around £500 to insulate with 270mm insulation, saving you over £2,000 on bills after 5 years. You’ll also reduce your carbon footprint by about 530kg every year.
What you’ll spend: £500
What you’ll save: £2,079
3. Wall insulation
About a third of heat is lost from walls of uninsulated houses. The age of your home will usually determine the type of walls you have, and this in turn affects the cost of insulation. Solid walls let twice as much heat escape as cavity walls.
While insulating solid walls can be more expensive, the savings on your heating bills will also be bigger.
Cavity insulation for an average mid-terrace house costs roughly £620, with savings of over £1,600 after 5 years, saving 415kg of carbon each year.
What you’ll spend: £620
What you’ll save: £1,663
4. Upgrade your boiler
Boilers are improving in energy efficiency all the time. If you need to replace your boiler, a new model could cost around £4,000 including radiator valves, but you could save almost £3,000 on bills within 5 years if you’re in a mid-terrace house.
Not only that, but a new boiler will also reduce your household’s carbon footprint by 1.92 tonnes of CO2 every year.
What you’ll spend: £4,000
What you’ll save: £2,840
5. Double glazing
20% of heat can be lost through standard windows. Invest in energy-efficient double-glazed windows to make savings of over £2,600 in heating bills over 5 years. Plus, you’ll be sure to enjoy the peace and quiet that goes along with double glazing. Installation costs average out at around £4,500 for A-rated PVC windows in the average semi, compared to around £15,000 for A-rated hardwood windows. Double glazed windows can reduce the CO2 emissions of a typical household by three quarters of a tonne every year.
What you’ll spend: £4,500
What you’ll save: £2,647
6. Install solar panels
These days, an average solar set-up will cost £6,500 all-in. But if you’re a householder who’s home all day, it’s estimated that a 4.2kW set up will save you £1,028 a year -that’s over £5,000 in 5 years. Most homes have upwards of 12 panels; that’s 10.8 tonnes of carbon saved every year, not to mention money paid back to you thanks to the smart export guarantee.
What you’ll spend: £6,500
What you’ll save: £5,141