One factor that holds homeowners back from making upgrades is that many feel they are not adequately equipped to take on the burden of retrofitting their property. Nearly two-thirds (64%) responded that they didn’t know their current EPC rating, and over half said they were not confident in their ability to find a trusted tradesperson to carry out the job.
The other main issue is affordability. Six in ten respondents said that the cost of retrofitting their property is preventing them from upgrading. Larger jobs like installing a heat pump or solar panels were seen as unaffordable by 73% of respondents. Most of those surveyed deemed even smaller upgrades too expensive. When it came to upgrading glazing and loft or wall insulation, 61% said they would definitely not carry out these measures or are unlikely to.
Fiona Hyde, Head of Sustainability at Santander, commented: “It’s clear that homeowners and renters need Government support to be better informed about the options available to them; to have access to affordable, skilled tradespeople; and crucially to be able to benefit from all available financial incentives if we are to help them keep their homes warm and their energy bills low.
“But beyond that, the houses and flats we know today will, in the majority of cases, be the same houses and flats that we are living in for generations to come. Failing to retrofit them is simply not an option if we are to truly tackle the climate crisis and achieve the country’s carbon emission targets.”
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