Low-carbon tech ‘could cut energy bills by £2k per year’

At Scottish Power, we’re working with WWF to accelerate the UK’s transition to net zero. That includes championing the benefits of low-carbon energy solutions and driving changes that will enable more people to access them and realise their benefits.

As a company that already generates 100% green electricity from our 40 onshore and offshore windfarms around the UK, we know that decarbonising heat and transport is next.

Together we embarked on a joint research project to investigate how installing low-carbon technologies, such as heat pumps, solar panels, battery storage and electric vehicle chargers can add value to a home, cut carbon emissions and reduce energy bills.

Our report, Better Homes Cooler Planet, discovered the extent to which installing these low-carbon technologies, supported by energy efficiency measures like improved insulation, can benefit people’s pockets as well as the planet.

The results were clear – home installations of these measures can help both move the country away from its reliance on fossil fuels and address the climate crisis.

Not only can they improve the quality of life for homeowners and tenants, by making homes warmer and more comfortable places to live, but the right combination could also:

• Increase the value of a home by, on average, around £10,000
• Reduce energy bills by up to £1,878 per year, or by up to £2,309 per year when including transport fuel savings from switching to an EV from a petrol car
• Reduce carbon emissions by up to 96.8%

Looking at the technologies individually:

• Installing an air source heat pump could increase home value by around £5,000-£8,000, with running costs in an insulated home currently lower than an old gas boiler by £117 per year
• Installing 4kWp of solar panels could increase the value of a home by around £1,350-£5,400, with energy bill savings of £586 per year. Add a battery and this energy bill saving increases to between £713 to £1,186 depending on your tariff
• Installing an EV charge point could increase home value by around £5,000 and help unlock all the benefits associated with electric driving

There are some very clear reasons as to why we need these types of products in our homes.

We know that UK households are currently experiencing the pressure of very high global gas prices in their domestic heating bills with the majority of UK residential buildings (85% or 23 million) currently connected to the gas grid, using a boiler and wet-based central heating system.

The UK has also made a legal commitment to achieve net zero greenhouse gas emissions by 2050. Decarbonising our homes is key to delivering that greener future, as up to 20% of the UK’s carbon emissions come from our homes with a further 15% from cars.

At Scottish Power, we’re at the forefront of the changing world of energy. As the power sector continues to decarbonise, adopting low-carbon technologies, like heat pumps, solar panels, batteries, and electric vehicles, will be essential to clean up our homes and our environment.

And improving our homes with these energy efficiency upgrades and low-carbon technologies will speed up the transition away from fossil fuels, protecting household budgets from volatile fossil fuel prices and saving money over the longer-term.

Together with WWF we’re jointly calling for more ambitious climate action from the UK government, devolved government, regional government, and local authorities across all the nations of the UK.

That includes better support and policy change from all UK governments to help reduce the up-front and running costs of these low-carbon technologies, including funding for homeowners and tax incentives for private landlords to install them, as well as strengthening consumer protection and advice.

Our report also urges the UK government to consider an energy saving Stamp Duty incentive, as well as calling for financial institutions to introduce innovative products such as green mortgages and for estate agents, property listings websites, and surveyors to highlight the presence and value of green technologies to house buyers.

If we’re serious about reaching net zero in the UK in 28 years’ time, transforming heat and transport in our homes, towns and cities will be key. We need to do this affordably, and at pace.