"While our research highlights how upfront costs can be a barrier to action, there are plenty of low-cost DIY improvements that can lead to significant savings, and it’s promising to see younger generations eager to make upgrades"
- Thierry Garnier - Kingfisher
A new study from Kingfisher, owner of B&Q and Screwfix, in partnership with the economics consultancy Cebr, reveals that energy-inefficient homes are costing a total of £3.8bn in additional annual bills across the country.
The study found that older generations are the worst impacted by energy inefficiency, with 60% of over 65s currently living in inefficient properties, compared to 43% of 16-34-year-olds. This means they are set to spend £256 more on annualised energy bills this winter compared to under 30s. The study also revealed that over 65s are spending the highest proportion of their money on energy bills of any age group.
Despite this, a new survey of 3,000 UK adults has found that over 65s are the age group most unaware of the inefficiency of their homes. Just 16% were able to say what their home’s EPC rating was and 57% said they believed their home is already efficient – compared to the reality of just 40%.
While over 65s have the most to gain from efficiency improvements, they are significantly less likely to be planning upgrades than other age groups, with just 49% intending to do so in the next five years.
Instead, over 65s are more likely to turn to habits such as using extra blankets on sofas and beds (47%), washing on lower temperatures (53%), only heating the room they are using (44%), or turning down their thermostat (47%).
Meanwhile, younger generations appear to be more aware of their home’s energy efficiency, with 53% of 18–34-year-olds knowing their home’s EPC rating. They are also more likely to be planning improvements in the future, with 83% planning to invest in energy efficiency upgrades in the next five years. Among the most popular planned measures are lower cost improvement measures including smart electricity or gas meters (61%), smart thermostats (58%) and Temperature Control Valves on radiators (53%).
However, younger generations are much less willing to compromise their lifestyle or change behaviours to save energy. 52% of 18–34-year-olds would rather pay more on energy bills to live comfortably, while 45% said they turn on the heating ‘whenever they fancy’.
Irrespective of people’s age, the biggest barrier to improving energy efficiency for Brits is upfront costs, with 40% saying they are too high and 20% concerned that the payback period is too long.
Overall, there are high levels of concern across all age groups about energy bills this winter. 71% of Brits say they are worried, and 77% say they have become more conscious of saving energy as a result.
Thierry Garnier, Kingfisher CEO, said: “Too many UK households are still paying higher bills due to energy-inefficient homes, especially those who can least afford it. Yet the vast majority of people aren't aware of their home’s inefficiency, or the extra bills they're incurring. While our research highlights how upfront costs can be a barrier to action, there are plenty of low-cost DIY improvements that can lead to significant savings, and it’s promising to see younger generations eager to make upgrades.
"The Government’s goal to boost efficiency in five million homes by 2030 is a strong start. While there is no silver bullet, we believe three key policies would accelerate this effort. First, a focused initiative by winter 2025 to insulate the over five million uninsulated lofts across the UK. Longer term, we must empower and incentivise consumers with improved grants for low-income households and easy, consumer-focused solutions for those who are more able to pay.
"Finally, robust support for trade careers is critical to building a skilled workforce capable of delivering technical upgrades at scale."
