EPC Bromley has recently read a report by Frontier Economics, one of the largest economic consultants in Europe which suggests that all homes in the UK should be made to be energy efficient by the year 2035.
It includes the following actions which it recommends are taken.
- All homes should be rated at least a ‘C’, using the A to G rating used on EPC. This target should be reached in low income houses by 2030.
- All new homes should have a carbon footprint of zero by 2020.
- All low income earners should receive subsidies to make energy efficiency improvements to their homes.
- The subsidies should be tested to find the most efficient schemes. Suggestions for schemes include, include loans with zero interest, equity loans with low interest which don’t have to be paid back until you see your home and salary sacrifice schemes along similar lines to childcare vouchers.
- Changes should be made to stamp duty tax to make sure people are encouraged to renovate their new homes.
- Introduce tax allowances to private landlords and give 50% subsidies for social landlords if they install energy saving measures.
The report advises that in the current climate it is difficult to guarantee a return on investment which is above inflation but it still makes economic sense to put your money into the efficiency of your home.
This ensures that energy bills will fall and helps to tackle climate change whilst still keeping everyone warm. According to EPC Bromley, this report very strongly advises that the UK government should be doing far more to tackle climate change and using these suggestions would make a very good start.
EPC Bromley feels very strongly that a sting of governments have failed in the area of energy efficiency with so many stop/start schemes ultimately failing due to lack of investment. This report suggests that a national infrastructure programme would help, especially as so much of the housing stock in the UK is old.
Implementing at least some of these suggestions would not only improve people’s warmth and health, it would also help with the country’s commitment to tackling climate change.