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Homeowners boost the household budget by going ‘green’

30th June 2014 Print

Nine out of ten (90%) homeowners are concerned with saving energy in the home, with half (50%) saying this concern is primarily for money saving reasons, according to M&S Bank research. Just one in ten (9%) said they were concerned mainly for environmental reasons.

Of those who said they are concerned about the energy efficiency of their home, over a third (36%) are more concerned now than they were last year as it helps them to save money.

Nearly all homeowners (98%) said they regularly carry out a range of simple energy saving measures and nearly four in five (78%) have made at least one green home improvement.

When it comes to future plans, the top home improvements that homeowners would seriously consider making include installing a more energy efficient boiler (19%), solar panels or solar collectors (19%), or triple glazing (13%).

As well as adopting green habits, the majority of homeowners are clued up when it comes to major electrical appliances, which make up 20 per cent of the average energy bill.Nearly a third of all homeowners will always buy a product with a rating of ‘A’ or above (32%).

When thinking about the household appliances they already own, three in ten homeowners have mostly high energy efficient household appliances (30%), while the same amount said they had a mixture of higher and lower rated products. One in five (21%) didn’t know the efficiency rating of their household appliances.

Helping homeowners to go green, M&S Bank offers green home cover to its home insurance customers. This means that when an M&S Home Insurance customer makes an approved claim for a washing machine, tumble drier, fridge freezer or dishwasher, it is replaced with a new 'A' rated energy efficient model at no extra cost. In addition, if the home needs extensive repairs, all work will be carried out to level 4 of the Code for Sustainable Homes.

Neil Rogers, Head of General Insurance at M&S Bank, said: “Homeowners can not only make substantial financial savings, but also help the environment, by going green and it’s great to see that so many people recognise the benefits.”

Follow Neil’s green tips to cut costs and lesson your environmental impact: 

Don’t lose energy - take measures to ensure you’re making the most of the energy you pay for- insulate walls and lofts and use a draught excluder on doors where cold is creeping in

Don’t waste energy - turn off lights when you leave a room and don’t leave appliances on standby

Go green to save energy - energy efficient light bulbs and ‘A’ rated appliances reduce energy consumption helping to keep costs down