UK residents dwelling in energy-deficient properties could be facing a staggering £299 rise in bills this year, soaring to a collective £3.8 billion nationwide.
Two thirds of individuals over 65 are currently living in inefficient homes, bearing the brunt of the crisis as they shell out an extra £256 annually on energy bills at today’s rates, compared with the younger crowd under 30.
Consultancy company Cebr examined the energy efficiency of houses rated below C on the EPC scale and the analysis uncovered that those over 65 spend a significant more of their income on energy bills than any other demographic.
Anxiety regarding energy expenditures this winter spans all age groups, with a striking 71% of Britons concerned about bills rising this winter, and 77% actively endeavouring to conserve more energy.
However, it turns out the younger generations that appear most clued-up about home efficiency, suggests the research, paving the way for future plans focused on heightening energy savings, as an overwhelming 83% of 18 to 34 year olds intend to put money into efficiency enhancements within the forthcoming five years.
Top picks amongst the young for low-cost efficacious improvements include smart electricity or gas meters (61%), intelligent thermostats (58%), and temperature control valves for radiators (53%).
Kingfisher’s chief executive Thierry Garnier weighed in: “Too many UK households are still paying higher bills due to energy-inefficient homes, especially those who can least afford it.”
The study has highlights that sky-high upfront costs are the primary obstacle for UK adults looking to boost their home’s energy efficiency and an alarming 20% are deterred by the lengthy payback period.
The Government aims to enhance efficiency in five million homes by 2030, but Garnier suggests that further policies could turbocharge help their efforts.
He advises an immediate focus on nationwide loft insulation and champions long-term measures, stating “we must empower and incentivise consumers with improved grants for low-income households and easy, consumer-focused solutions for those who are more able to pay.”
In addition to financial incentives, Garnier emphasises the need for a robust support system that nutures skilled trades careers, saying they are “critical to building a skilled workforce capable of delivering technical upgrades at scale.”
