If ever there was a time to focus our minds on reducing our home’s energy consumption – it’s now.
With the energy regulator, Ofgem, announcing last week its price cap would increase to £3,549 on 1 October – an 80% hike on April’s level – most of us will be doing all we can conserve heat and electricity in a bid to save money.
But that’s not the only factor pressing households to reduce energy – there’s also the government’s target to reach ‘Net Zero’ for greenhouse gas emissions by 2050.
As part of this it has put in place targets to reduce emissions from households, which account for the release of 26% greenhouse gases. Indeed, those owning properties – with a particular emphasis on landlords – must improve the Energy Performance Certificate rating of their property.
According to Mortgage Advice Bureau, there are considerable developments to be made to achieve this, with one in six adults (17%) keen to make improvements to the EPC rating of their property.
But where do you start? And what changes can you make to lower your carbon footprint at home? Brian Murphy, head of lending at Mortgage Advice Bureau offered some ideas.
Evaluate your energy consumption
Monitoring your current energy consumption will help you understand how much your household uses and how to bring it down, said Brian.
If you are able to install a smart meter in your area – this is a great place to start. Brian said: “It tracks exactly how much energy you use each day and is something your supplier can install free of charge.
“To get an even better idea of where you might be wasting energy without realising it, you could invest in an energy audit.
“They cost between £100 to £400 and will highlight opportunities specific to your home where energy efficiency can be improved.”
Try some quick energy-saving hacks
Energy saving needn’t involve major upheaval to your home. You can make some quick and easy steps in the short term to save money too.
Try getting your radiator systems cleaned to maximise their efficiency, switch to longer-lasting LED lights where suitable and choose appliances with a high efficiency rating, Brian suggested.
You could also lower the temperature of your water heater if you find that it is above the recommended 48⁰.
“Small changes can make a big difference,” said Brian. “There are of course other home improvements that can be made which may be considered a longer-term investment, such as installing a heat pump or solar panels.
“Just over one in ten adults want to add solar panels to their home, and although making these changes may seem costly in the initial sense, they will bring you savings in the long term.”
Reduce the amount of water you use
Did you know, using less water is strongly linked to reduced carbon emissions? Brian said: “There are many straightforward ways to achieve this. For example, a tap aerator is a low-cost gadget that restricts the number of litres of water that flow from the tap per minute.
“An eco-shower head can do the same thing, but for your shower instead.”
You can find more water-saving tips here.
Consider taking out a green mortgage
A number of lenders are now offering green mortgages, which can help play a part in building your Net Zero credentials.
According to Brian, a green mortgage rewards you for buying or owning an energy efficient home.
“Several different types exist, but the one thing they have in common is that they’re only available to those who either buy or own an environmentally-friendly home (generally with an A, B, or C EPC rating), or make energy-efficient home improvements,” he said.
“Some products will offer preferential rates to standard mortgages if the property meets certain energy efficiency criteria, whereas others may offer cashback on any money you borrow to upgrade your home’s energy efficiency.”
How draught-proofing your home will help cut emissions
Have you got draughty doors or windows which are in need of new seals? If so, these could be more of a drain on your energy resources than you might realise.
Older properties tend to be draughtier too with pre-1990s properties more likely to suffer with this problem.
“The more that heat is able to escape your home, the more energy required to keep it nice and warm,” said Brian.
You may, therefore, want to consider installing new windows or double glazing. Brian said nearly one in six adults are intending to introduce these, according to Mortgage Advice Bureau’s research.
He added: “Choosing insulation from recycled materials will also have an impact towards reaching the Net Zero goal.”
