A small survey commissioned by Market Financial Solutions has found that less than a fifth of those surveyed have replaced their property’s boiler with a carbon neutral heat pump – and almost half of those who had made the change said that it had not made any notable improvement to the property’s energy efficiency.
Conversely, 56% say that the sustainability of their property is important to them, irrespective of changing energy performance certificate regulations.
When asked about the adaptations that they had already made to boost efficiency, LED lighting was the most popular change (42%have made this change to their properties) with a significant majority of those that had made the change saying that it had worked.
Around three quarters of those that have not replaced old lightbulbs with LEDs said that they plan to in the next 12 months.
Investing in double or triple glazing, using smart meters, adding wall or loft insulation and installing energy-efficient kitchen appliances were the other most common energy efficiency upgrades that UK landlords have made to their properties.
chief executive Paresh Raja says: “Sustainability and energy efficiency have become increasingly important in recent years as the climate and energy crises worsen. As such, it’s encouraging that our research shows so many landlords have already boosted their properties’ energy efficiency credentials, while plenty more have plans to improve the sustainability of their homes in the future.
“Clearly, upgrades such as replacing old lightbulbs with LEDs can be relatively affordable. However, in the current economic climate, making more substantial improvements – such as investing in double glazing or installing loft insulation – may be financially out of reach for some landlords. So, by working with brokers, lenders must be on hand to provide flexible financial products that will help landlords make the changes their properties need.”
|Have you made these improvements to boost energy efficiency of your BTL property?||Yes||Of those who have: did it work in making your property more energy efficient?||Of those who have not made: do you plan to make this upgrade in the next 12 months?|
|Replacing old light bulbs with LED lighting||42%||67%||73%|
|Investing in double or triple glazing||39%||65%||68%|
|Installing a smart energy meter||38%||51%||67%|
|Adding loft or wall insulation||34%||60%||70%|
|Installing energy-efficient kitchen appliances||29%||57%||64%|
|Investing in professional draught-proofing||26%||55%||51%|
|Switching from gas boilers to more efficient condensing boilers||25%||63%||40%|
|Investing in solar panels||23%||39%||38%|
|Investing in geothermal heating||22%||36%||34%|
|Replacing boilers with a carbon neutral heat pump||18%||56%||37%|