New research from comparison service Uswitch energy suggests that while the majority of homeowners are motivated to retrofit to save on energy bills, financial and informational barriers are preventing them from doing so.
A survey of 1,000 UK homeowners revealed that over half (55%) of Brits have already made improvements to reduce energy consumption in their homes; however, only one in three (33%) Brits are considering retrofitting their properties, despite 56% saying they understand how retrofitting can reduce their energy bills.
The cost of retrofitting can vary depending on the scale of improvements, from smaller changes like smart heating controls right up to the installation of more expensive investments like solar panels, heat pumps and improved wall and floor insulation. However, upfront costs are a main barrier to retrofitting, with almost two-thirds (61%) of Brits stating that the upfront cost is too high and too expensive for the average household. The majority (71%) of over-55s believed that cost is the biggest obstacle.
| Barrier To Retrofitting | Total Percentage (%) |
| I would be more likely to retrofit if I could see the savings on my energy bills | 66.80% |
| The upfront cost of retrofitting is a major barrier for homeowners | 65.50% |
| Retrofitting is too expensive for the average household | 61.50% |
| I don’t know enough about the financial support or grants available to me | 59.50% |
| I would retrofit my home if financial support were more accessible | 59.20% |
| Retrofitting feels too disruptive, confusing or complex | 47.80% |
| I would retrofit my property if people in my community were doing the same | 37.20% |
| My property makes it difficult to retrofit | 34.50% |
More than two-thirds (67%) of homeowners stated that they would be more likely to retrofit if they could clearly see savings on their energy bills. Those aged 25-35 were most motivated by the savings on their energy bills, with over two-thirds (71%) stating they would retrofit their home if financial support was more accessible, in comparison to only 50% of over-55s.
Younger homeowners are more open to energy-saving upgrades in their properties, as over two-thirds (69%) of 25-34 year olds stated that they already had energy-saving products in their home. They are most likely to consider solar panels (57%), smart heating controls (48%) and heat pumps (41%). While those over 55 favour insulation (52%) and double/triple glazing (50%). A fifth (20%) of 55+ stated they would not consider retrofitting measures, in comparison to just 5% of 25-34.
When it comes to improving homes for potential sale, more than half (55%) feel that retrofitting would boost appeal to buyers. Research found that almost three in five (57%) Brits would pay more for a house with renewable or low-carbon energy sources. The same survey found a quarter (25%) would be willing to spend between £15k and £25k extra for a green property, with more than one in 10 (11%) willing to pay more than £45k extra.
More accessible financial information would encourage homeowners to retrofit their properties, with 59% stating they would retrofit their properties if support were easier to access. Many homeowners (60%) state that the upfront cost of retrofitting their property is too high. Over half (51%) would retrofit their home to save against rising energy prices, but almost two-thirds (63%) don’t know how much money they would save from retrofitting their property.
