Wednesday, January 18, 2012
Category:
Home Improvements
According to Consumer Focus and Energy UK, ‘millions of people are missing out on easy ways to make big savings for little or no cost’. Therefore, consumers are being urged to investigate how much they could save on their energy bills via better home insulation and by checking that their tariff and payment method is the best for them.
It has been revealed that loft and cavity wall insulation, which energy suppliers offer for free or at a discounted rate, can reduce a consumer’s energy bill by an average sum of £120 per year. Furthermore, switching to direct debit payments could reportedly save consumers an additional £100 per annum.
However, despite every major energy supplier offering deals on loft insulation and cavity wall insulation, Government figures show that 9.6 million and 7.8 million homes (respectively) don’t have enough. It has been revealed that 100,000 households are taking advantage of these deals each month, but double this figure could actually be doing so.
Key findings from new Consumer Focus research have revealed the following:
- When it comes to energy efficiency, two thirds of consumers are ‘not fully confident’ that their home is as efficient as it could be. Nevertheless, of these consumers, seven out of ten have no intention of making any improvements in the next twelve months.
- 47 percent of consumers are unaware of how thick their loft insulation is, and are consequently also unaware of whether it should be improved.
- 35 percent are not aware that suppliers are offering free or cut price insulation, which anybody can take advantage of, or that the scheme is financed by customers’ bills.
- Paying a one-off fee of approximately £200 for home insulation is thought to be a ‘good investment’ by two thirds of consumers due to the minimum annual saving of £100 per annum.
- Just one in five people have full confidence in the fact that they are on the best possible deal offered by their energy supplier.
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Homeowners who are keen to make their property as energy efficient as possible, but do not currently have the money required to do so, could consider taking out a secured loan. One of many finance options available, a secured homeowner loan could allow borrowers to embark upon an array of projects in and around their home. For example, a
homeowner loan could be used to replace any draughty doors or windows for improved heat retention. What’s more, homeowners who would like to utilise natural energy resources could even consider investing in solar panels.
