Missed savings through failure to improve energy efficiency

UK households and businesses could be missing out on up to £3.1bn in savings every year by not improving the energy efficiency of their homes and premises, according to a new report from global energy efficiency company Grundfos and the Centre for Economic and Business Research (Cebr).

The report, Powering energy efficiency, finds that people are put off mainly by misconceptions around the high upfront costs of making improvements in energy efficiency.

Of those in rented accommodation, 26% don’t know if their heating system has been checked for energy efficiency and 43% can’t make improvements because they’re not responsible for the efficiency of their heating systems.

For businesses, 33% have been forced to shift some of the impact of the energy crisis onto their workforce by moving to a remote working model; 26% would consider reducing employee wages in order to recoup costs lost due to the energy crisis; and 15% have already resorted to this.

The report shows that what’s needed is better information and a mass behavioural change in both consumers and businesses.

Read more at bit.ly/Grundfos_report

Image Credit | Alamy