UK

Britain needs to upgrade 29 million homes to reduce climate-changing emissions by 2050

Britain

Britain needs to upgrade its 29 million homes to use less fossil-fuel energy, often through measures such as adding insulation or swopping to low-carbon heating

To meet a binding goal of achieving net-zero climate-changing emissions by 2050, Britain needs to upgrade its 29 million homes to use less fossil-fuel energy, often through measures such as adding insulation or swopping to low-carbon heating.

But John Alker, policy director with the UK Green Building Council, said that “there are more homes in this country than there are minutes between now and 2050”.

Reaching the zero-carbon target by mid-century means Britain needs to retrofit almost two homes a minute – something it is, so far, nowhere near prepared to do, he told an online London Climate Action Week event last Friday.

Getting to that point will be a challenge, from figuring out how to persuade landlords to improve homes they do not live in to experimenting with how to acceptably alter houses in historic conservation areas, said Sarah Fletcher, who works on energy efficiency for the Greater London Authority.

But the payoffs are potentially enormous, said Paul Toyne of the London Sustainable Development Commission. They include a surge in new jobs and more comfortable homes that are cheaper to run, not to mention reductions in planet-warming emissions, fuel poverty and inequality, he added.

If we choose to invest in this space, we get all those benefits, he said.

Britain’s home-owners have not had a particularly positive experience with retrofitting up to now – if they have heard of it at all, said David Pierpoint, chief executive of the Retrofit Academy Centre of Excellence, a non-profit training company. In the last decade, many efforts to make homes more energy-efficient were shoddily carried out or drew little interest, he said.

A government-backed green programme to spur home-owner investment in insulation and other energy-efficiency measures, launched in 2013, failed to produce clear energy savings, said a government audit, and was shut down.

Now, to revive interest in such efforts and train more people to do the work, “we have to do for retrofit what we did about 15 years ago for recycling and waste”, said Pierpoint. We need to make (taking action) the norm.

The good news is that as Britain looks for ways out of a serious unemployment and economic crisis spurred by the Covid-19 pandemic, retrofitting homes could bring both legions of jobs and progress towards national climate goals, he added.

About 430,000 new workers are needed to deliver “anything like the level of retrofits that will be required”, he noted.

Alker, of the UK Green Building Council, said the government is now looking at whether a home energy-efficiency push should be part of the package of novel coronavirus recovery spending Britain’s finance minister is expected to announce next week. We very much hope central government sees the light on this one, he added.

Emma Harvey, director of the Green Finance Institute, said retrofitting work could be pushed forward by measures such as setting stamp duty rates – the tax paid by buyers when a home changes hands – lower for more energy-efficient homes.

Workers could also be offered loans for home retrofits that are paid back through “salary sacrifice” schemes with their employers, she said. In the United States and Australia, some lenders provide long-term credit to finance more expensive home retrofits, with the loan passing on to new buyers – who reap the benefits of the improvements – if the home is sold, she noted.

The British government also could consider issuing green bonds to fund retraining in retrofitting skills for workers left jobless by the novel coronavirus crisis, she said.

Alker said the need to improve homes was clear, including the need to meet climate commitments, but revving up action remained a big task. It’s a financing challenge, a behavioural challenge and a technical challenge, he said.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Invest for Property. The information provided on Invest for Property is intended for informational purposes only. Invest for Property is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

Leave a Reply