Have you thought about ways you can make your home more energy efficient? Either to help the environment by cutting your own carbon footprint, or by helping your bank balance with lower energy bills? If so, here are some good reasons to keep it top of the considerations list.

Why energy efficiency matters

Climate change and rising energy costs present significant challenges for homeowners and the economy. Retrofitting homes for energy efficiency not only helps combat these issues but also offers financial savings, improved home value, and enhanced well-being. Here’s how making your home more energy-efficient can benefit you and the wider community.

  1. Energy independence
    We’ve experienced first-hand how our reliance on overseas fossil fuels, such as oil and gas from Russia, can have a major impact on our finances. Since 2002, The European Commission has been focused on ways to boost the use of renewable energy, reduce energy consumption and diversify energy sources to reduce market volatility. As individuals we can adopt a similar approach. If we reduce our own exposure to price inflations by moving away from high energy consumption and diversifying with the use of more renewable energy sources, we can future-proof our homes and align with the UK government sustainability goals.
  2. Big savings
    Making investments towards a greener home can help the savings stack up over time. A Propflo case study suggests an investment of around £8,000 in a small solar system and battery setup for a home can yield a £16,000 saving over its lifetime. It’s basically doubling your money while cutting back on your energy bills.
  3. Boosting your home’s value
    Did you know energy-efficient homes can be more attractive in the property market? According to the Royal Institution of Chartered Surveyors (RICS), such homes can have a value of 15% above less sustainable homes. They give a real-life example where two identical homes were sold at the same time, but the one with solar panels sold for 2.4% higher price. So, not only do you save on bills, but your home could also be worth more and sell faster.
  4. Feeling the comfort
    Energy efficiency isn’t just about saving money. It’s also about living in a home that’s comfortable year-round. Energy efficient homes provide better thermal comfort and air quality, so they can be cosy in the winter and cool in the summer. Plus, with better ventilation, you’ll have fresher air inside, reducing the risk of health issues like respiratory problems.
  5. Good for the environment
    Energy efficient homes are better for the environment, producing fewer greenhouse gas emissions and reducing reliance on fossil fuels. As we all become more environmentally conscious, making greener choices is a great way to go. Properties with sustainable features like solar panels also appeal to eco-conscious buyers, driving up their market value.
  6. Smarter home tech
    Adding smart home technology can help you maintain a healthy indoor environment, ensuring you get the most out of your energy-efficient upgrades

Approaches to retrofitting

Propflo gives two main approaches to improving the energy efficiency of your home.

  • Fabric first
    This is where you prioritise the energy efficiency of a property right from the start of a broader project. Fabric optimisation, such as windows, walls and doors to reduce heat loss and improve airtightness. By choosing sustainable and durable materials, you can reduce the environmental impact and lower the carbon footprint of a property, reduce energy consumption, improve air quality and ensure a building is cost-effective and functional. All leading to significant cost savings over time.
  • Fabric fifth
    This approach focuses on immediate, less disruptive improvements such as smart home technology and solar panels. It often makes better financial sense and lowers barriers to starting energy-efficient upgrades. It’s called ‘fabric fifth’ because for many decades fabric first was thought to be the best way to move forward with retrofitting, but now it’s considered the fifth in major improvements, behind updates such as heat pumps, smart control and solar storage.

When’s the best time for green upgrades

There are a few good times to think about going green, including:

Buying a new home: an ideal time to incorporate energy efficiency right from the start

Remortgaging: Use this opportunity to fund some energy-efficient improvements

Renovating: A great time to add energy-efficient measures to your bigger project

Retirement: Reduce living costs and boost comfort as you enjoy your retirement years.

Ready to make a change? Learn about Hodge x Propflo

Propflo’s GreenVal tool provides comprehensive reports on a property’s energy efficiency, including health and well-being benefits. It helps homeowners compare improvements, see financial returns, and get quotes from trusted installers. As a partner of Propflo, Hodge’s new and remortgaging customers have full, free access to the tool.

Retrofitting your home for energy efficiency offers substantial financial savings, increases property value, and improves living conditions while contributing to broader economic and environmental goals. Tools like GreenVal make planning and implementing these improvements easier and more cost-effective. For more information or to get started visit our Hodge x Propflo page.

More help from Hodge

Mortgages with Hodge: Many of our customers used funds from their Hodge mortgage to make improvements to their home. Find out more about Hodge Mortgages here. Please remember, we don’t offer mortgages directly to the public. It’s a big decision, and you’ll need to speak to a financial adviser to make sure it’s the right one for you. If you don’t already have an adviser, you can start your search, using unbiased.co.uk.

Save with Hodge: If you’re spending less because of the changes you’re making to reduce your bills and be more sustainable, then looking at where you can keep your savings is a great way to make sure you make the most out of your money. View our savings account options.

This article is correct at time of publishing and for general information purposes only. We recommend you speak to a professional financial adviser for advice. You can find a financial adviser and further personal finance information at unbiased.co.uk.