Energy-saving home improvements seen as way to save money
Sep 25, 2006
Britons are turning to home improvements in order to offset rising energy bill costs, new research has found.
More than a quarter of people in the UK carried out home improvements aimed at saving energy and cutting the cost of bills in the past year, the report said.
With British Gas prices rising by more than 91 per cent since 2003 and electricity prices by 81 per cent, homeowners are looking to measures such as double glazing and draught proofing to save money, with home improvements a popular reason to take out loans.
Of the 30 per cent of survey respondents who had carried out energy and fuel-saving improvements in the past 12 months, installing double glazing was the most popular home improvement activity (45 per cent), followed by fitting new loft insulation (41 per cent), or a new boiler (30 per cent).
More than one in five respondents had spent between £501 and £6,000 on energy saving home improvements in the last year, while 28 per cent had spent under £500. Around 22 per cent of these had used energy-saving grants towards the costs.
Halifax, who ran the survey said that making energy and fuel saving improvements could save householders hundreds of pounds a year. Energy savings will help to offset the rising cost of gas and electricity.
The National Energy Foundation estimates that double glazing can reduce a household's annual energy bill by between £20 and £35 each year, according to the report.
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