Money saving advice: Retrofit – the answer to cutting costs?

People across the UK looking to cut costs and improve the energy efficiency of older homes are being offered advice on retrofitting their property, amid the cost of living crisis.

Sustainable engineering consultancy, Dice, are working towards being a net-zero carbon business and have picked up some useful advice on the journey.

They believe by implementing some of the retrofit lessons they’ve learnt, homeowners could reduce costs and cut their carbon footprint.

Retrofitting is the process of adding new features to older systems to improve energy efficiency and, with energy price hikes imminent, it could be one solution to cutting costs.

Common retrofit renovations include insulating your property, adding adequate ventilation, updating heating and water systems and embracing renewable technologies.

Homeowners can also make smaller changes to help reduce bills and increase efficiency such as installing a smart meter, investing in energy efficient appliances and comparing tariffs.

Wayne Oakes from Dice said: “If homeowners, particularly those living in older properties, are serious about reducing their carbon footprint and energy costs, then retrofit is the answer.

“It’s about working with what you’ve got and improving it. There are some easy fixes; adequate insulation sounds obvious but around 75% of homes in the UK fall well under that. Insulation can best be described as wrapping your home in a blanket, keeping the heat in and the cold out.

“Upgrading heating and water systems is another important investment. The efficiency of boilers and heating has improved considerably in recent years and if you upgrade an old system, you can expect to see a difference in the cost of your heating instantly.

“For those who are worried about making, or who are unable to make, any financial investment in improving the energy efficiency of their home, there are a number of small lifestyle and habit changes homeowners can make with no cost at all. There are also some big changes you can make that may have a large price tag attached but will ultimately reduce your future bills and emissions, for those who are willing to make the initial investment.”

Here are Dice’s tips for reducing energy costs and becoming more efficient:

Smart meter
Install a smart meter to fully understand usage. This will show the appliances which cost a lot to run and those which use minimal energy so you can act accordingly.

Appliances and lighting
Swap outdated appliances and lighting for more energy efficient versions. Lighting has a low cost to change, the savings will start instantly and the bulbs last a lot longer.

Energy tariff comparisons
Always carry out regular price comparisons to check you’re on the best tariff. This doesn’t always mean switching suppliers but rather negotiating a better deal for yourself.

Renewable energy
Ask to be swapped to a renewable energy tariff. These match the energy you buy with renewable energy. Some are 100% renewable, while others use a mix of renewable and non-renewable.

Insulate
Insulating and draft proofing your property will keep your house warmer during the winter when the heating is on. Get these right and you’ll find your house will be more efficient and cheaper to run.