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Homeowners go green to cut energy bills

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02/11/2015
Reducing energy bills is the major motivation for going green, says M&S Bank
Homeowners go green to cut energy bills

A growing number of homeowners are worried about rising energy bills, and are turning to energy-saving measures to cut costs.

M&S Bank said that almost all homeowners say they are concerned with saving energy in the home and half of them claim that the main reason is to save money.

Fewer than one in 20 were concerned about going green just for environmental reasons, down 9% on last year. Instead preventing energy bills from making a massive dint in the household budget has become a priority.

A whopping 99% of respondents to the bank’s survey said they regularly carry out at least one simple energy-saving measure and 85% have made at least one major green home improvement, such as the installation of double glazing, loft installation, solar panels or an energy-efficient boiler.

Of those who haven’t, a third claimed they are seriously considering installing solar panels to chop their energy bills.

Small measures

But it isn’t just the large improvements that can save money. Most homeowners make small energy-saving measures every day such as switching off lights, turning off electrical equipment rather than leaving it on standby, and turning off the heating if they go out.

Plus costs can also be trimmed by choosing energy-efficient products when you come to upgrade major electrical appliances. According to M&S Bank, the use of products such as washing machines, dishwashers and fridge freezers, accounts for 20% of the average household’s energy bill. So it’s not surprising that almost 40% of homeowners go for an A-rated energy-efficient electrical product when they come to upgrade.

Only one in ten didn’t know the efficiency rating of their household appliances.

Paul Stokes, head of products at M&S Bank, said: “As well as helping the environment by going green, homeowners can also make substantial financial savings. That’s why it’s great to see that so many people are recognising the benefits of making even just a few simple, everyday changes.”

 

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