Green refurbishment could create a £3.5 billion market

Research from the Environmental Change Institute at Oxford University indicates that refurbishing existing housing in the UK to make it more energy efficient could reduce CO2 emissions by up to 75% versus current levels, as well as creating a £3.5-6.5 billion market for builders.

Homes in the UK account for 27% of the country’s total carbon emissions and the Government has set ambitious targets to make all newly built homes in the country zero carbon by 2016 to help tackle climate change. However, the vast majority of the country’s existing housing stock is already built and will still be occupied in 2050.
“UK housing is among the worst in Europe when it comes to energy efficiency,” says Killip. “Bringing British homes up to standard is possible using existing technology but the skills and industry base to deliver the necessary change is underdeveloped.”

The recommendations include new policies from the Government that commit to and support the refurbishment of existing homes to improve energy efficiency, cutting VAT on refurbishing work from 17.5% to 5%, introducing Council Tax rebates on energy efficient homes and feed-in tariffs to stimulate use of microgeneration.

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