In light of the energy crisis which people nationwide are facing, 72% of UK homeowners say they want to make their homes more energy efficient, with 40% saying they’re planning to make energy-saving improvements before the end of 2023
According to new research from MyGlazing.com, this drive in energy efficiency will see UK homeowners spend more than £16.3bn on energy-saving home improvements over the next 12 months.
The research reveals that, on average, homeowners are planning to spend £2,792 on energy-efficient home improvements and renovations over the next 12 months. 16% plan to spend more than £5,000 and those in the baby boomer generation (aged 55 – 73) are set to spend the most, with the average spend among the age group being £3,401.
Of those planning to make home improvements in the future, whether that be within the next year or longer-term, 28% are planning to replace their boiler with a new energy-efficient alternative, while 27% plan to install draught-proofing and 25% is looking to upgrade doors to be double/triple glazed.
The 10 energy-efficient home improvements Brits plan to make in the future:
1: Replace the boiler with a new energy-efficient alternative (28%)
2: Draught proofing (27%)
3: Upgrading doors to be double/triple glazed (25%)
4: Upgrading windows to be double/triple glazed (24%)
5: Replacing all lightbulbs with energy-efficient alternatives (23%)
6: Install solar panels (22%)
7: Lining the loft with insulation (21%)
8: Install a heat pump (20%)
9: Installing hot water tank insulation (19%)
10: Installing cavity wall insulation (18%)
Tom Butler from MyGlazing.com, comments: “It goes without saying that, as a nation, we’re facing considerable challenges when it comes to the cost of living. However, it’s promising to see that so many homeowners are planning to make energy-efficient home improvements in the near future.
“Even though the initial cost of some green improvements can be costly, the long-term benefit makes them a real investment. For example, up to 24% of heat energy can escape from old, draughty glazing so upgrading windows to be double or even triple glazed can really help to improve a property’s energy efficiency."
However, making green home improvements doesn’t just have a positive impact on energy bills, it can also result in the property increasing in value and buyer appeal.
In fact, the new research from the consumer advice website reveals homeowners would pay 15% more for a property which has an EPC rating of C or above. With this in mind, it’s no surprise that 23% are making energy-efficient home improvements to increase the value of their property.
Tom concludes: “Ultimately, the importance of homes being energy efficient is only going to increase in the future, and our research shows buyers are willing to pay a considerable amount more for a property which has a lower carbon footprint. From reducing energy bills to increasing buyer appeal, green home improvements are an investment which homeowners shouldn’t overlook. Even if you’re not planning to sell your property in the near future, energy-efficient home improvements will ultimately help you save money on your energy bills.”