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Energy-saving home improvements to beat the price rise

Beat the energy price rise with some of these energy-saving home improvements to protect your budget and home.

Global prices for fossil fuels, especially gas, are rapidly increasing, making it more expensive for providers to buy gas and electricity supplies.

Of course, this will ultimately feed into all customer energy bills in the UK.

With Ofgem’s 54% price cap increase in April 2022 coming hot on the heels of a 12% increase in October 2021, households have seen huge changes to energy bills, feeding into growing concerns over a cost-of-living crisis.

However, by making certain home improvements that increase the energy efficiency of your home, you could cut the cost of your energy bills.

6 ways to lower your home’s energy costs – and what you could save

From handy tips to full-scale renovations, here are some of the best ways to slash your home’s energy costs.

The savings we’ve calculated for each potential home improvement are based on terraced housing, and come from data sourced by the Energy Saving Trust.

1. Draught-proofing

Draught-proofing is a simple way to save energy and money – it’s also cheap and really effective, too. Draught-proofing your home blocks gaps around the doors, windows and chimneys in your home, stopping warm air from escaping and cold air from getting in. You can also buy long sausage-shaped draught excluders to lie along the bottom of your doors.

What you'll spend: £3 per roll

Savings after five years: £372

2. Roof Insulation

Just as we lose most of our body heat from our heads, our homes lose a significant amount of heat through the roof. In fact, your home could lose as much as a quarter of its heat from the roof if it isn't insulated. Plus, you could reduce your carbon footprint by about 530kg every year by insulating your roof.

What you'll spend: £285

Savings after five years: £1,155

3. Wall Insulation

About a third of the heat in your home is lost from uninsulated walls, and solid walls let twice as much heat escape as cavity walls. While insulating solid walls can be more expensive, the savings on your heating bills will also be bigger as they would normally lose more heat.

What you'll spend: £400

Savings after five years: £924

4. Upgrading your boiler

If you’re looking to replace or upgrade your boiler, the good news is that they’re improving in energy efficiency all the time, so even though a newer model could cost a fair amount, it will save you money in the years to come.

What you'll spend: £2,500

Savings after five years: £1,578

5. Double glazing

Investing in energy-efficient double-glazed windows could lead to huge savings in the following years, as well as cutting your carbon footprint by around 80kg of carbon per year. Plus, you'll be sure to enjoy the peace and quiet that goes along with double glazing.

What you'll spend: £4,500

Savings after five years: £1,471

6. Solar panels

Solar panels help harness the sun's power to fuel your home, reducing the amount of energy you need from standard utility suppliers. They're usually installed onto the rooftops of houses, where they're most likely to capture the sun's rays. While once they might have been a novelty, more and more homeowners are realising the benefits and having them installed.

What you'll spend: £4,800

Savings after five years: £2,856

What could I save on energy bills?

While each change could lead to some savings, combining several could see those savings stack up. Follow up your £3 spend on draught-proofing with an investment in roof and wall insulation, and you could see savings reach £2,451 in the following five years.

Some of the more significant changes may seem unaffordable due to their high initial outlay. If that’s the case for you, speak to us about home improvement loans. This way, you can pay the money back over time instead of in one bulk payment.

Looking for more money-saving tips? Head to the Norton Finance Know How hub.


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