Upgrading UK’s leaky homes will deliver major CO2 and bill savings, but upfront homeowner costs remain major barrier to progress, management consultancy warns
Achieving the government’s 2035 home energy efficiency retrofit goals could take a significant bite out of UK emissions while slashing £9.5bn off household energy bills, PwC has calculated. The management consultancy said a major green homes retrofit drive in line with the energy efficiency goals set out in the government’s 2017 Clean Growth Strategy would deliver huge economic and climate benefits for the UK. The estimates come in PwC’s latest UK Economic Outlook today, which finds that delivering on the government’s goal to upgrade all homes in the UK to energy efficiency level band C on Energy Performance Certificates (EPC) within the next 15 years could cover 16 per cent of the CO2 reductions required to meet the nation’s net zero goal. However, it cautions that there remain major barriers in that could prevent a mass domestic energy efficiency drive over the coming 15 years. Homeowners’ reluctance to stump up the high upfront costs of delivering retrofit upgrades to their properties – such as insulation and low carbon heating – is likely to hinder progress, it warned, as well as the fact that a substantial proportion of UK homes are rented properties, and the owners are therefore not incentivised by the prospect of cheaper bills.
Business Green 4th June 2021 read more »