Tighter energy efficiency rules could save UK economy £1.75bn a year

A new briefing from independent think tank E3G finds that stricter minimum energy efficiency standards could save the UK economy £1.75bn per year. 

Tightening these rules could also save tenants £570 per year in the UK. These savings are achievable if the UK government goes ahead with energy efficiency regulations it first proposed in 2020. 

Over 1 in 4 renters live in fuel poverty, more than in any other housing type. Two-thirds of privately rented homes do not meet the government’s target energy efficiency level, and almost a million rented properties would not meet the legal definition of a “decent home”. 

E3G say improving energy efficiency in the private rented sector is essential to combat fuel poverty, reduce UK energy demand and improve our energy security, and meet our net zero ambitions. Moreover, it can be done in a way that creates jobs and grows the economy.  

Colm Britchfield, Policy Advisor at E3G said: “The poor state of many rented homes is a growing national scandal. Tenants are facing sky-high bills in part because so much energy is wasted in inefficient homes. The government has an oven-ready set of regulations to fix this – now they need to put them into law.” 

Emma Harvey-Smith, Director at the Green Finance Institute, said: “Decarbonising homes in the private rented sector offers an opportunity to address the cost-of-living, energy, and climate crises in the UK. Introducing revised minimum energy efficiency standards and fiscal incentives to improve private-rented homes will support those in fuel poverty, while also providing certainty to landlords, retrofit contractors and financial institutions on the timescales and demand for energy efficiency improvements.”  

Find out more here.