Improving
the energy efficiency of Britain’s 27.2 million homes, which are responsible
for more than a quarter of the country’s CO2 and other greenhouse gas emissions,
is seen as key to tackling the issues of climate change, fuel poverty and our country’s
energy security. This is particularly important as in June the Government
announced they were going to make the country carbon neutral by 2050,
meaning Britain’s homes need some enormous retro-fitting to meet these
ambitious climate targets.
Researchers at Nottingham Trent University said
it would cost on average £17,000 per property to retrofit an average UK home to
make it carbon neutral with renewable energy and insulation (if done en
masse and not piece meal). That would cost the Country £462.4bn
(interesting when the NHS costs £154bn per year). Now of course 22.7m homes are
privately owned so that would be the responsibility of the owners, but if we
look at publicly owned council
housing, that would cost the Government in excess of £76.5bn - HS2 is ‘only’
£56bn!
The
benefits of making homes carbon neutral go further than saving the planet, as
occupants would have much lower gas and electric bills (which total £31.824bn
per year), warmer households and a much-lower strain on the NHS, which
currently spends about £848m a year treating conditions that arise from cold
housing. Also, local authorities would have to spend a lot less than the £5.2bn
a year for ongoing property maintenance by the installation of extra insulation
and renewable energy such as ground source heating, wind or solar panels.
To
improve efficiency ratings, last year the Government banned landlords from renting
property with an energy performance rating of F and G (the lowest ratings), yet
I don’t think there is an appetite to force private homeowners to do this work
(although you never know in the future??). Homeowners would be unenthusiastic
to take on the bother and cost of such building works, yet the Government could
offer incentives and grants, which along with the funds saved on their energy
bills could make the plan more appealing?
So,
what about eco credentials of the properties of Southampton homeowners and
landlords?
Every home that has been built, rented out or put on
to the market in Southampton since 2007 has had to have an Energy Performance
Certificate (E.P.C), giving it a rating between A and G (rather like those
stickers you see on fridges and washing machines). A is highest rating (i.e.
most efficient and greener) and G is the worst energy performance rating. So,
looking at Southampton first, then comparing us to the rest of the UK, this is
the result...
So, 40.4% of Southampton homes are in that eco-friendly A to
C energy performance banding ratings, which is proportionally 8.84% higher than
the national average.
So, what next? Well the Government will endeavour
to make the green revolution as painless as possible with technology developments
like LED light bulbs, for example, saving greenhouse gases without people
noticing. In the future we might have hydrogen central heating instead of mains
gas, all have solar panels for electricity, all triple glazed windows and even
ground sourced heating ... sounds pie-in-the-sky? Well who would have thought some
of the most wanted cars would be electric and hybrid 10 years ago, built by the
likes of Tesla?
There is no doubt that the energy efficiency
of a property will rise in the coming years as the cost of fuel and people’s opinion
on going green changes. You don’t need to spend £17,000 to find out what you
can do to make your property greener. Look at your E.P.C and it will tell you
what small changes you can make to improve your Southampton home’s energy
efficiency rating and ultimately save yourself money.
If you want to find your E.P.C rating of your Southampton
home, go to www.epcregsiter.com
If you would like to pick my brains on the Southampton Property Market – pop in for a coffee or drop me a line on social media or email.
If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.
Email me on brian.linehan@belvoir.co.uk or call on 023 8001 8222.
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