Interest in efficiency measures increases as energy costs bite
KPMG in the UK’s second report into energy saving trends, part of its latest Consumer Pulse survey
KPMG in the UK’s second report into energy saving trends, part of its latest Consumer
KPMG in the UK’s second report into energy saving trends, part of its latest Consumer Pulse survey, finds:
- Over a third (36%) of bill-payers say they are exploring longer-term measures to improve the energy efficiency of their home
- Nine out of 10 (92%) bill payers agree that improving the energy efficiency of homes is important
- Interest in loft insulation has grown over 100% since September 2022, with 37% of households saying they are now considering this, compared to 16% last Autumn
- Interest in heating options generally lower, with heat pumps the least likely upgrade being considered (8%)
New research from KPMG[i] indicates that the reality of high energy costs over the winter has driven greater interest in energy efficiency measures, with the percentage of respondents considering specific options including insulation, or double glazing growing significantly in the past six months.
KPMG surveyed 2,800 bill paying adults during March 2023 about their attitudes to energy efficiency. The results highlight that there is almost universal support for improving the energy efficiency of UK homes with 92% of respondents agreeing, and over half (58%) saying that it is very important.
Over a third of bill payers (36%) say that they are interested in longer-term measures to improve the energy efficiency of their homes, while a further 9% would like to, but are restricted either by the fact they don’t own the property or there are planning restrictions.
The most popular measure to improve efficiency is to upgrade lighting to energy efficient bulbs (41%), as it was when consumers were asked a similar question in September (24%)[ii]. By far the measure that has seen the largest increase in interest between September 2022 and March 2023 is loft insulation, with interest growing over 130% from 16% to 37%, but interest in all solutions has grown significantly over the past six months (see figure 1).
The most popular upgrades that are being considered are:
- Upgrading lights to energy efficient bulbs (41%)
- Loft insulation (37%)
- Upgrading to more efficient double or triple glazing (34%)
- Installing solar panels (30%)
- Draft proofing house (28%)
Commenting on the results, Simon Virley CB, Vice Chair and Head of Energy and Natural Resources at KPMG said: “The findings show that there is a real appetite from the public for serious action to tackle energy efficiency in our houses, and the reality of managing higher energy prices over the winter seems to have focused minds on how they might address this in their own homes.”
The research however highlights how improving our heating systems remains a lower priority for many. Heat pumps were the least likely upgrade to be considered, with fewer than one in 10 (8%) considering this, while upgrading boilers and heating systems were also low with 19% of respondents considering this, up slightly from 16% in September.
“The lower level of interest in low carbon heating options can’t just be put down to costs, as this doesn’t seem to be dampening interest in other more costly upgrades like solar,” continued Simon Virley. “In all likelihood, it points to the fact that there is ongoing uncertainty around the best options, with conflicting information about what households will need as we look to green our homes and buildings. With so many households reliant on gas to heat their homes there should be growing urgency around building the relevant skills within the sector, and broader policies, to support households make the right investments here.”
Notes to Editors:
[i] 3000 UK adults, of which 2808 were billpayers, were surveyed between 6th to 10th March 2023 by OnePoll, for KPMG UK.
[ii] 3000 UK adults were surveyed between September 1 and September 8 by OnePoll, for KPMG UK. They were asked, if you are looking to install energy efficiency or green energy measures as a direct result of the rising prices – what are you planning
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