Friday, May 29, 2009
Category:
Home Improvements
According to research from uSwitch.com, the recession has resulted in an increasing number of energy efficient households, thus positively affecting the environment.
In fact, 78 percent of those surveyed concurred with being more energy efficient now than this time last year. For 36 percent, this has been the direct result of attempts to keep costs down rather than having concerns over ‘green’ issues, which are only the primary motivation for 9 percent of respondents.
Energy saving methods were found to be varied, with 91 percent switching off lights when they are no longer needed and 79 percent refraining from filling their kettles with more water than is necessary. In addition, 78 percent only use their washing machines and dishwashers with a full load, and 69 percent are now completely switching off electrical equipment after use as opposed to leaving it on standby.
Despite consumers now incorporating such energy saving measures into their daily routines, their reluctance to make longer-term financial investments remains apparent. At a time when budgets are generally tighter, 64 percent of respondents without solid wall insulation in their home admitted that they cannot afford it. It is a similar story for ‘energy saving recommended’ white goods. 60 percent of respondents realise that these would be cost effective in the long run but 35 percent would ultimately use price tags as a basis for deciding whether or not to make the purchase.
It would not seem as though a disbelief in the benefits of energy efficiency is to blame, judging by the fact that less than 1 percent of respondents are of the opinion that energy efficient appliances do not have any significant impact on actual usage. However, uSwitch report that costs do not have to be particularly great for consumers to be deterred from going green. 29 percent would not pay more for a fully renewable electricity plan and, of the 31 percent that would pay more, 17 percent would only pay up to an additional £20 per year.
Director of Consumer Policy at uSwitch.com, Ann Robinson, commented: "This is a double-edged sword. Consumers are reacting to the recession and the high cost of energy by cutting back on energy usage. They are taking simple steps, but they are not buying into the major energy efficiency measures because they are worried about the costs involved, are confused about what is available and don't understand the savings they could make. As a result they could miss out on the longer-term savings to be made from investing in making their homes more energy efficient. This caution is natural, but it smacks of a missed opportunity.
"The Government will also be concerned as the cost of going green could stop consumers getting behind its drive to make Britain's households more energy efficient and reduce carbon emissions. The Government should work with the energy industry and particularly with individual suppliers to ensure that consumers are getting the information and reassurance they clearly need to make them feel confident about making the investment.
"Consumers who are worried about costs can cut their energy bills by ensuring they are paying the lowest possible price for their energy and learning to use less of it. Move to dual fuel, pay by direct debit and sign up to an online energy plan to save up to £350 on your annual household energy bill. Some people might then find it possible to invest money in major energy efficiency measures. Under the Carbon Emission Reduction Targets (CERT) scheme we are all paying an extra £19 a year on gas and £18 on electricity to provide funding to support energy efficiency measures. Speak to your supplier to find out if you can benefit from this too."
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Homeowners that would like to invest in long-term energy saving measures, and who are looking for the funds to pay for them, could consider taking out a
home improvement loan to fund the desired work. A home improvement loan could facilitate an array of projects from solid wall insulation to the replacement of draughty doors and windows. A home improvement loan could also be used to fund solar panels which could be introduced to the property’s exterior so as to capitalise on the sun’s natural power.
