A recent report titled “Tomorrow’s Homes” by Santander sheds light on the urgent need for government intervention in addressing the lack of action on home energy efficiency improvements among UK homeowners and renters, as recently reported by Property Reporter.
Based on a survey of 4,000 individuals, the report highlights a concerning gap between awareness and action in the realm of retrofitting.
According to the findings, 48% of respondents acknowledge the significant impact that improving their home’s energy efficiency could have on their lives. However, this awareness is not translating into tangible changes, with several barriers hindering progress.
A notable challenge identified in the report is the lack of knowledge among homeowners regarding their current Energy Performance Certificate (EPC) rating, with 64% admitting they are unaware of this crucial information. More than half of the respondents expressed uncertainty about where to find trusted tradespeople to carry out retrofitting work.
Even if equipped with the necessary knowledge and resources, cost remains a major deterrent for homeowners. Six in ten respondents cited the prohibitive expense of retrofitting as a significant barrier, with large-scale measures such as heat pump or solar panel installations deemed unaffordable by 73% of those surveyed.
Fiona Hyde, Head of Sustainability at Santander, stated the necessity of government support in addressing these challenges. She underscores the need for improved consumer education, access to affordable tradespeople, and financial incentives to facilitate retrofitting efforts.
The report outlines several key recommendations aimed at spurring government action in this regard:
- More upfront grant support, such as rebates on stamp duty for new home buyers who make defined retrofitting investments and upfront grant support, means-tested for lower-income households, delivered by local government.
- Government to take a role in creating an online tool that can help consumers learn more about how to retrofit their homes in the simplest possible way.
- Support from the government to lenders offering financing options for Green improvements using techniques previously seen for SME lending and COVID loans.
- Increased support for the supply chain with clear, long-term commitments to retrofitting demand, including Government commitment to educating the specialist tradespeople of tomorrow, alongside a possible retargeted apprenticeship system building on the Heat Training Grant.
Rt Hon Phillip Dunne, MP and Chair of the Environmental Audit Committee who supported the calls said:
“I was pleased to have been invited to join the Panel for the launch of Santander’s Tomorrow’s Homes report in the Commons. I have taken a considerable interest in how best to improve the energy efficiency of the nation’s homes.
This report makes some interesting recommendations about raising awareness among homeowners, landlords and tenants of the benefits of reducing energy costs through retrofit.
The Government has introduced some incentives, such as VAT reductions on energy efficiency installations and the Home Upgrade Scheme for grants to help support heat pump uptake.
But there is scope to do more, to help households on the journey to decarbonising homes to lower energy costs and cut emissions.”
One Response
This Santander report underscores the urgent need for government action on home retrofitting to combat the climate crisis. Investing in energy-efficient upgrades not only reduces carbon emissions but also enhances living standards and lowers utility bills. It’s time for policymakers to prioritize sustainable solutions for a greener future.