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Energy prices delaying efficiency upgrades
Energy prices delaying efficiency upgrades
Half of UK households (50%) say they are not confident in being able to afford higher gas and electricity prices, and this is having an impact on their ability to invest in sustainable home improvements.
Half of UK households (50%) say they are not confident in being able to afford higher gas and electricity prices, and this is having an impact on their ability to invest in sustainable home improvements.
NatWest’s Greener Homes Attitude Tracker found that 71% of homeowners who don’t plan to make improvements in the next 10 years cited the high cost of upgrades as the main barrier.
NatWest’s Greener Homes Attitude Tracker found that 71% of homeowners who don’t plan to make improvements in the next 10 years cited the high cost of upgrades as the main barrier.
While homeowners are keen to make changes that will save money and combat climate change, with almost half of the UK turning down the thermostat in their homes, the opening quarter of 2023 saw a further decrease in the proportion of homeowners planning to make improvements to the environmental
While homeowners are keen to make changes that will save money and combat climate change, with almost half of the UK turning down the thermostat in their homes, the opening quarter of 2023 saw a further decrease in the proportion of homeowners planning to make improvements to the environmental sustainability of their property both in the next 12 months and over the next ten years, in a continuation of the decline seen late last year. sustainability of their property both in the next 12 months and over the next ten years, in a continuation of the decline seen late last year.
Lloyd Cochrane, head of mortgages at NatWest, says: “Our data has shown that homeowners continue to be affected by increased costs, in particular gas and electricity bills – an ongoing worry over the last year. The extension of the UK government’s Energy Price Guarantee to June comes at a critical time, with half of households stating they were not confident in being able to afford to be paying higher energy bills.
Lloyd Cochrane, head of mortgages at NatWest, says: “Our data has shown that homeowners continue to be affected by increased costs, in particular gas and electricity bills – an ongoing worry over the last year. The extension of the UK government’s Energy Price Guarantee to June comes at a critical time, with half of households stating they were not confident in being able to afford to be paying higher energy bills.
“We also know that homeowners are keen to make changes that will save money and combat climate change – but the
“We also know that homeowners are keen to make changes that will save money and combat climate change – but the
Cornwall project shows benefits of HVO fuels
A new project, which has converted properties in a Cornwall coastal village to run off Hydrotreated Vegetable Oil (HVO), aims to demonstrate how renewable liquid fuels can offer a low cost and less disruptive way for rural homes to decarbonise their heating systems.
A new project, which has converted properties in a Cornwall coastal village to run off Hydrotreated Vegetable Oil (HVO), aims to demonstrate how renewable liquid fuels can offer a low cost and less disruptive way for rural homes to decarbonise their heating systems.
• The report also found that the equivalent capital costs of installing an air source heat pump with all the necessary retrofitting and heating system changes would have cost the Kehelland residents an average of £22,000 per property.
• The report also found that the equivalent capital costs of installing an air source heat pump with all the necessary retrofitting and heating system changes would have cost the Kehelland residents an average of £22,000 per property.
The latest OFTEC/UKIFDA data also highlights that the global production of HVO is increasing rapidly, with more than enough supply to cater for UK home heating demand.
The latest OFTEC/UKIFDA data also highlights that the global production of HVO is increasing rapidly, with more than enough supply to cater for UK home heating demand.
costs of making these changes remain a barrier for homeowners. These insights have formed part of our work across industry, through public private partnerships, and our engagement with government to propose policies that can work positively to support consumers improve the energy efficiency of their homes. It is key that we support customers financially, so they are not held back from boosting demand for energy efficient products and services.” NatWest says it is working with industry partners Worcester Bosch, Citizens Advice and British Gas to assess the EPC rating of its properties and install appropriate solutions to improve energy efficiency and cut emissions such as insulation upgrades, heat pumps and solar panels.
costs of making these changes remain a barrier for homeowners. These insights have formed part of our work across industry, through public private partnerships, and our engagement with government to propose policies that can work positively to support consumers improve the energy efficiency of their homes. It is key that we support customers financially, so they are not held back from boosting demand for energy efficient products and services.”
NatWest says it is working with industry partners Worcester Bosch, Citizens Advice and British Gas to assess the EPC rating of its properties and install appropriate solutions to improve energy efficiency and cut emissions such as insulation upgrades, heat pumps and solar panels.
Over the course of 18 months, 17 homes as well as the local church and school in the village of Kehelland participated in a scheme run by industry trade bodies UKIFDA and OFTEC, alongside UKIFDA member Mitchell & Webber, to convert their kerosene heating boilers to use HVO. The project forms part of a larger scheme covering 150 premises across the UK.
Over the course of 18 months, 17 homes as well as the local church and school in the village of Kehelland participated in a scheme run by industry trade bodies UKIFDA and OFTEC, alongside UKIFDA member Mitchell & Webber, to convert their kerosene heating boilers to use HVO. The project forms part of a larger scheme covering 150 premises across the UK.
OFTEC and UKIFDA are calling for the UK government to bring the fuel duty rate of HVO for heating in line with that of kerosene heating oil, as the cost to the consumer of HVO is currently over twice that of kerosene heating oil.
OFTEC and UKIFDA are calling for the UK government to bring the fuel duty rate of HVO for heating in line with that of kerosene heating oil, as the cost to the consumer of HVO is currently over twice that of kerosene heating oil.
Key findings of the project are:
• The upfront cost of converting the oil boiler to run on HVO was just £500 per property.
Key findings of the project are:
• The upfront cost of converting the oil boiler to run on HVO was just £500 per property.
• The emissions from the properties were calculated as 88% reduced compared to kerosene.
• The emissions from the properties were calculated as 88% reduced compared to kerosene.
• Only minor modifications to the heating system were required, conversion took just an hour per property and could be done as part of the annual service.
• Only minor modifications to the heating system were required, conversion took just an hour per property and could be done as part of the annual service.
Under current government proposals, residents in off gas grid properties who rely on heating oil will be subject to a ban from 2026 on new and replacement fossil fuel appliances. In most cases, they will be expected to install a heat pump. OFTEC and UKIFDA say that the Kehelland demonstrator highlights there is an alternative for these properties which achieves significant emission reductions.
Under current government proposals, residents in off gas grid properties who rely on heating oil will be subject to a ban from 2026 on new and replacement fossil fuel appliances. In most cases, they will be expected to install a heat pump. OFTEC and UKIFDA say that the Kehelland demonstrator highlights there is an alternative for these properties which achieves significant emission reductions.
The findings are backed by a recent survey of 1500 UK households that use oil heating which found that 89% would prefer to convert their existing boiler to run on renewable liquid fuel.
The findings are backed by a recent survey of 1500 UK households that use oil heating which found that 89% would prefer to convert their existing boiler to run on renewable liquid fuel.
