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Phil Spencer's new tips to increase your property value: Smart energy efficiency

22 January 2019

Top ways to make your home energy efficient for less, revealed for Big Energy Saving Week 2019 

  • 41 per cent1of Brits would pay more for an energy efficient home – with 15 per cent saying they would pay over 10 per cent more for an equivalent property in the same area
  • Millennials2are most likely to pay more (51 per cent), but baby boomers have more energy efficient habits
  • Smart meters, which can be installed at no extra cost, help you keep track of your energy usage and are a simple way you can be part of a cleaner, greener, smarter Britain
  • This Big Energy Saving Week, property guru Phil Spencer is urging Brits to invest in green upgrades for their home – to reap the environmental benefits and increase their property value

When it comes to your home, it pays to go green according to the results of a new survey by the campaign for a smarter Britain released today. Over two-fifths (41 per cent) of Brits said they would pay more for an energy efficient home – with 15 per cent saying they would spend at least 10 per cent more. 

The research also revealed the most desirable green investments, including:

  • A new roof (54 per cent)
  • A newly replaced boiler (53 per cent)
  • Cavity wall insulation (45 per cent)
  • Underfloor heating (39 per cent)
  • Ground source heat pump (33 per cent)
  • Air source heat pump (28 per cent)
  • An energy storage system (28 per cent)

What’s more, property guru Phil Spencer believes this is a trend which will only continue – as the nation puts an increasingly higher premium on being green.

Efficiency on a budget

However, whilst many of these efficiency measures require significant upfront investment, this Big Energy Saving Week, the property expert advises that there are many small things you can do to lower your energy consumption and keep your bills in check. 

The top most common ‘green’ items which homes already have installed include:

  • Energy saving light bulbs (69 per cent)
  • Double glazing (65 per cent)
  • A recently serviced boiler (47 per cent)
  • Efficient shower head (25 per cent)
  • Draught proofing installed around doors and windows (20 per cent)

However, there are plenty of other efficiency measures which can also help reduce your energy consumption without requiring a big investment – from smart heating controls, which only turn the heat on when you are home, to a one cup kettle. Smart meters – which are installed by your energy supplier at no extra cost – are a simple way to keep track of your energy bills and show you how much these other energy efficiency measures are saving you in pounds and pence and how much your consumption has reduced. By helping you see where you could be saving energy, a smart meter also means you can help do your bit in helping the nation reduce its energy use. 

Generational differences

The research found that millennials put a higher value on making sure their home is energy efficient, as the most likely (51 per cent) to pay a premium for a home which benefits the environment and reduces bills. This is compared to around four in ten of both their Gen X3and Baby Boomer4counterparts (38 per cent and 41 per cent respectively).

However, Baby Boomers are actually more likely to have energy efficiency measures installed in their homes, with 84 per cent having energy-saving light bulbs installed, compared to around a half (54 per cent) of those aged 18-24. Furthermore, three quarters (78 per cent) of Baby Boomers have double glazing, compared to 54 per cent of 18-24 year-olds.

Property expert, Phil Spencer, commented: “As a long-time supporter of taking steps to help the environment, it’s great to see a growing awareness of the importance of making your property energy efficient and that it’s starting to have an impact on the price of the property. You don’t need a small fortune to start making effective changes though. Installing draught proofing to stop heat escaping outside the house, switching to energy saving lightbulbs and getting a smart meter from your energy supplier to keep track of the energy you’re using are all simple, and low cost ways to cut down on your usage, and contribute to a cleaner, greener, smarter Britain.”

However, there is still some way to go in educating people about the benefits of energy efficient homes: the research revealed 48 per cent of Brits have not heard of Energy Performance Certificates (EPC) – a key way of determining the likely energy efficiency of a property for prospective renters and buyers.

To help you keep track of how much energy you are saving thanks to energy efficient measures, get a smart meter installed at no extra cost, by contacting your energy supplier.

Ends

Sources

  1. Research of 2,000 people conducted by YouGov, January 2019
  2. Millennials are those aged 25-34
  3. Gen X are those aged 45-54
  4. Baby Boomers are aged 55+

About Smart Energy GB

Smart Energy GB is the campaign for a smarter Britain. It’s our task to help everyone in Great Britain understand smart meters, the national rollout and how to use their new meters to be cleaner and greener with their energy use. Our national campaign is reaching households and microbusinesses in England, Scotland and Wales.

About smart meters and the rollout

Smart meters replace the traditional meters we currently have in our homes. They enable accurate bills, near real time information on energy use in pounds and pence, and greater control over the way we buy and use energy. The smart meter rollout is an essential technology upgrade, unprecedented in its scale, to improve Great Britain’s energy infrastructure.

There are already more than 12 million smart meters installed in homes and microbusinesses across Great Britain. Every household in England, Scotland and Wales will be offered one at no additional cost. Contact your energy supplier about getting your smart meter.

Smart Energy GB media contacts

For more information including interview requests, case studies of smart meter users, infographics, photography and video content please contact the Smart Energy GB media team:

Smart Energy GB: [email protected]; 020 7413 3085