Study shows UK residents would pay more for an eco home
James Kerr
1st September 2009
A growing number of UK residents say they would be willing to pay more for a home where some of the energy supplied came from renewable resources – but the price of installation is still putting homeowners off investing in green makeovers, according to survey released today by the Energy Saving Trust.
The survey found that a third of UK residents would be willing to pay more for homes fitted with renewable energy technologies, such as wind turbines, solar panels or hydropower devices. Furthermore, up to half of those questioned for the survey expressed a desire to find out if their home is suitable for renewable energy.
But the Energy Saving Trust research also revealed that the
price of installing renewable energy is putting many householders off, despite
grants, such as the Low Carbon Buildings Programme (LCBP), available to help with the cost of purchase and
installation of renewable technology. Households can access up to £2500 in grants towards renewable installations under the LCBP.
The Energy Saving Trust survey is good news for renewable energy installers, particularly those accredited under the Microgeneration Certification Scheme (MCS), which is Government-approved and ensures micro-generation products and installers meet robust quality and
performance criteria.
One renewable energy installer certified under MCS, New World Solar, has seen a significant increase in demand for its services over the last year because of the funding available for renewable energy solutions in the home. This is expected to increase even further when feed-in tariffs, where householdersreceive a set payment for excess
electricity generated and exported to the National Grid, come in next April.
According to the Energy Saving Trust, solar water-heating systems cost between £3,000 and £5,000 and typically save around £50 a year when replacing gas. Typical solar electricity systems cost between £8,000 and £14,000 and can save around £200 a year. Investing in both can provide combined energy savings of approximately £250 a year.
Phil Sellwood, chief executive of the Energy Saving Trust, commented: “Twenty-six per cent of carbon emissions are from the home, and with depleting fossil fuels, Government is looking at ways to incentivise householders to install domestic renewable energy”.