PWC report finds that high cost of home retrofit ‘could hold back UK from achieving net zero goals’
14 June 2021
A new PwC report released ahead of UN World Environment Day found that from energy bill savings alone it can take, on average, at least 10 years to cover the upfront costs of making energy efficiency improvements to UK homes. A survey of 1,000 adults found that nearly a third do not intend to make any upgrades, with 35% of people surveyed citing concerns over costs and 26% directly stating it was ‘too expensive’.
Given that we must improve the energy efficiency of all homes in the UK to meet our net zero targets, this is concerning. Improving all homes in the UK to EPC band C could save households £9.5bn each year in energy costs and achieve 16% of CO2 reductions (52 million tonnes annually).