A study by WWF and ScottishPower found that installing green technologies could cut energy bills by up to £1,878 a year and reduce household carbon emissions by more than 95% over the lifetime of their installation. Consumers are increasingly looking for options to reduce rising energy bills in the long term through options such as installing solar panels, improving insulation or purchasing air source heat pumps. Bills are expected to exceed £3,000 this winter as rising wholesale gas prices, partly caused by the invasion of Ukraine, are passed on to consumers. Analysts have warned that prices could remain high for years. The report claims that homeowners can increase the value of their property by an average of £10,000. The analysis of 5 million house sales in England and Wales found that installing an air source heat pump could increase the value of a house by around £5,000-8,000, solar panels could increase it by between £1,350 and £5,400 and charging a point electric vehicle could increase this by around £5,000. Solar panels could boost household finances by £586 a year by saving electricity and selling the surplus back to the grid, the report showed. The Energy Saving Trust estimates that solar panels typically cost between £2,900 and £6,700 to install, with heat pumps costing £7,000 to £13,000 and electric vehicle charging points around £1,000. The WWF and ScottishPower report said a shift to low-carbon technologies could also reduce a home’s lifetime carbon emissions from energy by up to 91 tonnes of carbon dioxide equivalent – more than 95% – which it’s like taking 42 cars off the road. Around 20% of UK carbon emissions come from homes, with a further 15% from cars. Isabella O’Dowd, head of climate at WWF-UK, said: “Accelerating the development of low-carbon and energy-efficient technologies is the best way to ensure the UK’s energy security, protect homeowners from high price of fossil fuels and to planet.” O’Dowd acknowledged that the initial cost of installing low-carbon technology will prove a barrier for many households. He said: “We would like to see funding mechanisms put in place by the government to help people get more access to support in terms of reducing the upfront costs.” He also called for tax incentives for private landlords to set them up, as well as stronger protection and advice for consumers. Households are eligible for a £5,000 grant to switch to low-carbon heating under the boiler upgrade programme, which started in April and runs until 2025. The period required for savings on energy bills to justify initial installation costs varies between technologies: between 10 and 15 years for solar panels, one to three years for electric vehicles and 20 years for heat pumps. The numbers also depend on the location and condition of the home. The report showed that a detached house in the south of England with an old boiler and poor insulation is currently facing annual energy bills of £2,816. In comparison, the same home with a heat pump, electric vehicle charger, solar panels and smart battery could pay £383. Rob McGaughey, head of smart heat at ScottishPower, said: “Home installations of heat pumps, solar panels and electric vehicle chargers can help the country move away from its reliance on fossil fuels and tackle the climate crisis.”
