The Property and Energy Professionals Association (PEPA) has written to The Secretary of State for Communities and Local Government, Eric Pickles, highlighting the amount of money lost due to his department’s inefficient use of energy information.
Three independent studies concluded that over 15 per cent of consumers implement energy efficiency recommendations in Energy Performance Certificates (EPCs) if they see them when looking to buy or rent a home and will use their own money, rather than Government subsidies or grants, to carry them out.
PEPA calculated that at today’s property transaction levels, the loss to the economy exceeds £600million a year, meaning over 200,000 consumers are losing money through lack of energy efficiency in their homes.
Stephen O’Hara, PEPA chairman, said: “It is time that the Government took the use of energy information as a stimulus for improving energy efficiency seriously and in so doing so, give a massive boost to the economy. We hear a lot about the ‘nudge’ principle and surely providing important information to home buyers and tenants so that they can make their own choices about energy efficiency investment is just that.”
He added: “We understand that Europe is considering infraction proceedings against the Government for lack of compliance with the requirements of the Energy Performance of Buildings Directive (EPBD) which could cost the taxpayer millions of pounds in fines levied from Brussels. Surely that money would be better spent in encouraging energy efficiency and stimulating the economy."
PEPA has asked for a meeting with the Secretary of State to discuss how EPCs could best perform their intended role.