How to cut costs on your energy bills with savvy home improvements

A recent study conducted by Mortgage Advice Bureau has found that one in four households plan to make improvements to reduce their energy bills.

With the cost-of-living crisis currently sweeping the nation, along with household bills and particularly energy costs soaring to unprecedented levels, one way consumers can cut back on monthly costs is by making their homes more efficient.

According to the research one in four (23%), households intend on making improvements to their home to try and slash their household bills, such as their energy costs and well over two-thirds (69%) of households have their intentions set on making improvements to their property.

Of this population, within the next 12 months, two in five (41%) will make these necessary changes, and over a quarter (27%) have plans to begin their renovations in the next 6 months.

At the top of the list of home improvements are painting/decorating (58%), with installing a new bathroom (26%) coming in at second place, and the third most popular option is redesigning the front garden (17%). This list also includes additional energy efficiency measures with one in six (16%) stating that they intend on getting new windows (double or triple glazed), whilst one in seven (14%) confirmed that they will get higher energy efficient fittings.

An installation that can make a big difference to reduce your energy bills is insulating the floor or attic which 11% have opted for, and the installation of solar panels (11%) was also among the popular choices for eager homeowners.

Below are some figures showing the home improvements household plan to make:

• Painting / decorating - 58%

• New bathroom - 26%

• Redesigning the front garden - 17%

• New windows / double or triple glazing - 16%

• Energy efficient fittings - 14%

• Draught proofing - 12%

• Insulation (i.e. floor, attic) - 11%

• Solar panels - 11%

• Fireplace - 10%

•  Roof repairs/new roof - 10%

• Install a new energy efficient boiler - 10%

• Building an outhouse / garden room - 9%

• Loft conversion - 9%

• Extension (i.e. side, front, or rear) - 8%

• Conservatory - 8%

•  Electric charging point (outside for EVs) - 7%

•  Heat pumps - 6%

There are various motivations to make these improvements to your property, among others a quarter (26%) said they would like their property more energy-efficient, half (50%) said to improve the overall presentation of their property, whilst one in six (17%) would like to boost their EPC rating on their property, which is timely considering the government's ambitious target to bring greenhouse gas emissions down to net-zero by 2050.

Additional reasons also include that one in eight (13%) would like to increase the saleability of their home, a fifth (22%) of the respondents would like to create a better living environment, a fifth (22%) admitted they needed to make long-overdue repairs, whilst 21% want to bump up the overall value of their property.

Ben Thompson, deputy chief executive officer at Mortgage Advice Bureau, commented: “It’s a challenging time up and down the country with soaring costs – particularly energy bills – having a significant impact on household budgets – and there’s no sign of this slowing down any time soon.”

“To try and combat this, and to slash bills, people want to invest in improving their homes to make them more energy-efficient. For those who can afford to do so, it can be a double win of improving your home and making it more environmentally friendly, but also cutting costs. Most people would rather invest in their home than give their hard-earned cash to energy suppliers.”

“The Government’s ambitious targets to bring greenhouse gas emissions to net-zero by 2050 will no doubt add more stringent measures to EPC ratings in households, therefore, any energy-efficient improvements you can make while renovating your home will go a long way.”

He concluded: “And these improvements don’t need to break the bank. Smaller renovations, whether that’s new energy-saving bulbs, or installing a smart meter or thermostat, can actually make a big difference. For those wanting to improve the look of their home, a lick of paint can make a substantial difference without attracting a big price tag.”