Energy efficiency home improvements could save every household £162 a year

Alex Johnson

ab6404cb2f3eee50dde12016ed19cd7218affea0 300x225 Energy efficiency home improvements could save every household £162 a yearHomeowners in England and Wales could together save £683million by making basic improvements to their home’s energy efficiency, according to research from property services company LMS.

Their figures suggest that if households undertook the changes recommended in their 2012 assessments they could save on average £162 per year, a significant saving making typical energy bills reduced to £792.

The launch of the Government’s Green Deal scheme at the end of this month could see many homeowners opting to make such improvements since the initiative allows homeowners and business to install cavity wall insulation, double glazing and innovative hot water for no upfront cost (instead they are paid for through future energy bill savings).

The average Energy Efficiency Rating (EER) of those properties assessed in 2012 by LMS was a grade ‘D’, with ‘A’ representing the most energy efficient property and ‘G’ the least. None of the properties assessed fell into the top or bottom brackets but 9% were graded ‘F’. The potential EER for those assessed was a ‘C’, meaning the UK’s homes could move up an entire band.

LMS also found that the worst performing dwelling type were maisonettes, closely followed by bungalows and semi-detached houses. The best performing were mid-floor apartments.

Andy Knee, Chief Executive of LMS, said: “With energy prices on the rise, we could see many more homeowners opting to improve the energy efficiency of their home in 2013, particularly with the Government throwing its weight behind its new Green Deal scheme.

“As well as the significant monetary savings homeowners stand to make, and their property being more attractive to buyers and tenants, it could also help them to unlock more competitive mortgage products. Lenders are already beginning to open their eyes to the benefits of financing an energy efficient house with some already offering competitive rates to those that want to borrow more to pay for such improvements. We would expect to see even more of these products come to market this year and next as energy efficiency is further pressed into the public psyche.”

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