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Households using summer to future proof homes and increase value

From solar panels to smart meters, improving a property’s energy efficiency could increase its value by £55,000. 

Across Britain, households are using the approaching summer as an opportunity to future-proof their homes, increase the eco credentials of their property and reduce energy bills.

New research from Smart Energy GB has found that more than one in five Brits plan to invest in energy efficient home improvements over the next 12 months, with 63% having already done so.

In the past year, draught proofing (31%), boiler upgrades (29%) and fitting insulation (28%) have proved most popular while, 3.3 million smart meters were installed in British homes.

Brits’ primary ambition appears to be the financial benefit with almost half (49%) saying lowering their energy bills is a key reason for making such upgrades.

Meanwhile, a further 23% have been incentivised to upgrade the energy efficiency of their property to increase the value of their home.

Data from the UK’s number one property website, Rightmove, shows that improving a home’s Energy Performance Certificate (EPC) rating from F to C could increase its value by up to 15%, which for the average home means an extra £55,848.

Smart Energy GB’s Victoria Bacon said: “Smart meters are installed at no extra cost by your energy supplier and are a tool that more and more Brits are using to help them find ways to reduce their energy use day to day, which can have a noticeable positive impact on energy bills in the long run.

“Smart meters also open up access to reward schemes, which offer money off energy bills for reducing energy use at certain times.”

Having a smart meter installed enables people to track how much energy is being used in near-real time. People with a smart meter said they think they save an average of £139.68 per year by using it to help with energy management.

What’s more, smart meters facilitate access to energy reward schemes such as the Demand Flexibility Service (DFS), which offer financial incentives for reducing energy use at certain times.

Smart Energy GB has partnered with MoneyMagpie to share top tips for people looking to make energy efficient upgrades to their home:

  1. Solar panels can add value to your property and improve your EPC rating too.
  2. Installing A-rated double glazing to windows in an entirely single-glazed, semi-detached, gas heated property, could save £135 a year, potentially increasing up to £235 per year if A++ glazing is installed.
  3. It’s always worth shopping around and getting a few quotes from local tradespeople before deciding on any pricey investments.
  4. Get thermal curtains – they make it virtually impossible for heat to escape and you can even make them yourself, by sewing a PVC shower curtain to your existing curtains, then sewing some lining over the top
  5. Get a smart meter installed, which can bring greater financial control and enable access to energy reward schemes

In addition to helping improve their household bills, 36% of people have made eco upgrades in order to make their property more sustainable and create energy efficient homes for younger generations (31%).

Rightmove’s property expert Tim Bannister said: “Our analysis shows that there’s a green price premium on top of the local house price growth when people sell homes that they’ve been able to make green improvements to, and in the coming years a home’s energy efficiency rating is likely to become an even bigger factor when choosing a home to buy or rent.”

For further information on smart home renovations and to find out more about getting a smart meter installed search ‘Get a smart meter’ or visit https://www.smartenergygb.org/

Image: Reuters via Beat Media Group subscription

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