Going green to boost the household budget

Going green to boost the household budget
As well as benefitting the environment, ‘going green’ can also help homeowners make significant savings

New research by M&S Bank has revealed that 78% of British homeowners are concerned with energy efficiency around the home with 69% saying this is for cost saving reasons.

The figures are up 19% on last year – compared with 28 per cent who were concerned for environmental reasons.

Of those who were concerned about the energy efficiency of their home, 96% were more or equally concerned this year than they were in 2015

Paul Stokes, Head of Products at M&S Bank, commented: “As well as benefitting the environment, ‘going green’ can also help homeowners make significant savings.”

Nearly all homeowners (98%) usually undertake at least one simple environmentally-friendly measure and 88% have already had at least one energy efficient improvement made to their home.


Top 5 energy saving measures

1. 87% - Recycle (e.g. metal, glass, plastic etc.)
2. 86% - Switch off the lights when not in the room
3. 81% - Use energy efficient light bulbs
4. 72% - Turn the heating off when I'm not in
5. 55% - Switch off appliances fully rather than leaving them on standby

Top 5 ‘Green’ Home improvements

1. 72% - Double/ triple glazing
2. 70% - Loft insulation
3. 52% - An energy efficient boiler
4. 9% - Solar panels
5. 1% - A wind turbine

Looking further ahead, the top energy efficiency home improvements for homeowners who haven’t made them already included installing solar panels (27%), an energy efficient boiler (21%) or a wind turbine (9%).

Paul continued: “It’s great to see that, homeowners recognise the benefits of making just a few simple, everyday changes to be more environmentally friendly. Over three-quarters have already made improvements to help them go green and with just over half (53%) seriously considering some sort of future energy saving home improvement, it’s clear that green improvements are at the forefront of homeowner’s minds.”

When it comes to buying new electrical appliances, 15% said they always buy products with the highest energy efficiency rating possible (A+++) and overall 49% always buy products with an ‘A’ rating or above – a 12% increase on last year.

76% of British homeowners are aware of the energy efficiency ratings of their household appliances and over half (57%) of these said that their appliances tended to have high energy efficiency ratings – 20% up on last year – while 24% had no idea about the energy efficiency ratings of their appliances.

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Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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