Report

Lagging behind

This report from UK think tank Localis looks at energy efficiency in low viability properties.

Ahead of COP 26, government departments have been commissioned across Whitehall to inform the cross-government Net Zero Strategy that, amongst other things, will detail plans for decarbonisation across key sectors of the economy. One of the most significant challenges in reaching net zero is the need to retrofit the nation’s housing stock and increase energy efficiency. Lagging Behind puts this challenge into regional perspective, examining the requirements for central and local government to achieve retrofitting targets in areas where the financial viability for retrofit is extremely low. Retrofitting, and the prices involved in doing so, remain the same regardless of geography. However, what does not is the value of property. Putting this into perspective, the same energy efficiencies demanded by the transition to a Net Zero economy, including wall insulations and heat pump fittings, will need to be undertaken to an equal extent in a terrace house located in Barking with an average cost of £400,647 as one in Burnley with an average price of £77,293. Given the costs of retrofitting being in the tens of thousands, if the challenge of how to effectively support retrofit properties in low value areas is not met, a divide risks being created.