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Joanne Wade

‘Building the Future’ hits the nail on the head

ACE today welcomed the publication of ‘Building the Future: the economic and fiscal impacts of making homes energy efficient‘.  This report, by Verco and Cambridge Econometrics for the Energy Bill Revolution, sets out clearly how making our homes more energy efficient is an infrastructure investment that delivers high Value for Money through reduced energy bills and NHS costs, increased tax revenue for the Government, higher employment, increases in company profits and carbon emissions reductions.

When the Prime Minister tried to justify the government’s decision to block a binding European energy efficiency target last week, he focused on the need to reduce carbon emissions ‘at the lowest possible cost for businesses and consumers‘ As demonstrated by the report, energy efficiency investment goes beyond the Prime Minister’s requirement and actually delivers net benefits for businesses (£15bn in cumulative, additional (discounted) profits to 2035, consumers (£8.6 billion per year) and the Government itself (£1.27 in tax revenue for every £1 invested).

Achieving the level of energy efficiency improvement modelled in the report will require policy action to invest on behalf of low income households and to support investment by able-to-pay households, and we urge Mr Cameron to honour his commitment to energy efficiency, and back up his commitment to carbon emissions reduction with the action needed to deliver it at net benefit to the UK.

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Comments (2)

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    Arnold Wilkes

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    I agree that Mr Cameron Should honour his commitment to energy efficiency.
    We have insulated our home and are living Quite comfortably on a Combined income of not more than £14.000. If we can do it then the government would find a lot of there other policy’s that are aimed at low income families would be achieved. quite easily.
    We are registered as a superhome in Chester if U want to visit us, we are open on the 8th november.

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    Ken Neal

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    While I agree in principle with this report the energy saving levels are not high enough. An 80% saving is mandated by 2050 in the Climate Change Act and it is easy to achieve this level of saving in most houses, insulating to this level in some older houses solid walled houses would represent a 90% saving, with a very small cost implication over the proposed Band C level. The Band A level, achieving U values in the 0.08 to 0.12 range, would mean that houses would not have to be insulated again in the future. The cost of labour and access would be the same as Band C improvements while the extra insulation cost would be marginal.

    This extra insulation cost could be covered by the government paying for the scheme by printing the money instead of borrowing it from banks. The banks don’t actually have the money which they lend but “print” it by the click of a mouse in their computerised accounts. So why shouldn’t the government do the same? They can print £320 billion to “save” the banks so why not save the country at large by printing the money necessary to save the world’s climate.

    If Housing Association houses were insulated first in street sized contracts there would be considerable savings over the Green Deal idea of treating houses individually. Once the Housing Association houses were done, or at least started, private house owners should be allowed to apply, in groups again, so that efficient multi home contracts could be let. Once it was seen that the fuel savings in Housing Association schemes were genuine I suspect that there would be a considerable clamour from private house owners to get on the bandwagon.

    The costs could be recouped through a “Green Deal” type surcharge on electricity bills or through an extra income tax charge. this recouping of the costs would render the money printing exercise non inflationary. The level of charging could also be varied to help control the economy by controlling the amount of extra money flowing into the retail sector.

    More about banks and the money supply can be gleaned from http://www.positivemoney.org and more about an 80% saving can be seen at https://www.facebook.com/insulatehouses?ref=bookmarks

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