Energy poverty is a major issue in the UK, with a significant number of households struggling to keep up with the cost of energy bills. Housing associations have an important role to play in tackling this issue, as they provide affordable homes to millions of people across the country. In this post, we will explore some of the steps that UK housing associations can take to tackle energy poverty for their tenants, the cost involved, and the benefits that can be achieved.
One of the first steps that a housing association can take is to assess the energy efficiency of its properties. This can be done through an energy audit, which will identify areas where energy is being wasted and suggest ways to improve efficiency. For example, installing insulation, double-glazing, and energy-efficient boilers can significantly reduce energy consumption and costs. While there may be an initial cost involved in these measures, the long-term savings for both the housing association and its tenants can be significant.
However, implementing these energy-saving measures may require significant investment upfront. One way to fund this investment is to consider raising rent slightly to cover the costs. While this may be a sensitive issue and considered counter intuitive, it could be argued that the long-term benefits of reduced energy costs for tenants would offset the increased rent. Additionally, there may be government grants or schemes available to support the housing association in making these investments.
Government agencies can play an important role in supporting housing associations in tackling energy poverty. For example, the Energy Company Obligation (ECO) scheme provides funding for energy-saving measures in low-income households. The Green Homes Grant scheme also offers vouchers for energy-efficient home improvements. Housing associations can tap into these schemes to access funding for energy-saving measures for their tenants.
When it comes to technology, there are many options available to housing associations to improve the energy efficiency of their properties. Smart heating controls, for example, can help tenants manage their heating more effectively, reducing energy consumption and costs. Solar panels and other renewable energy sources can also be used to generate energy and reduce reliance on the grid.
It is important to prioritise which issues to tackle first. It may be more cost-effective to focus on properties with the highest energy consumption or those that require the most significant upgrades. Additionally, it may be useful to focus on properties with long-term tenancies to ensure the greatest impact on reducing energy poverty.
The benefits of tackling energy poverty for housing associations are many. In terms of public relations, it demonstrates a commitment to sustainability and social responsibility. It can also help to reduce the churn of residents, as tenants are more likely to stay in properties that are comfortable and affordable. Improved energy efficiency can also increase the asset value of properties and reduce maintenance costs over time. Additionally, reduced energy costs can provide financial benefits to tenants, freeing up funds for other expenses.
So it’s safe to say we would all agree, tackling energy poverty is an important issue for UK housing associations. While there may be significant initial costs involved in implementing energy-saving measures, the long-term benefits can be noteworthy for both the housing association and its tenants. Government agencies can provide support through funding and schemes, and there are many technological options available to improve energy efficiency. Prioritising properties and focusing on those with long-term tenancies can ensure the greatest impact on reducing energy poverty. Overall, investing in energy-saving measures is not only the right thing to do, but it can also provide numerous benefits for housing associations and their tenants.
Here’s where it can get interesting for housing associations: by partnering with PVolt, a new energy company launching in 2023, and taking advantage of their "Energy Poverty Initiative" called Project EPI-C it could bring significant benefits to a UK housing association looking to tackle energy poverty for its tenants. Through this partnership, the association could benefit from a range of subsidised energy solutions and funding for energy-saving equipment, such as LED lighting, energy-efficient boilers, insulation, and control systems.
In addition, the association could receive free equipment to provide cheaper energy through the use of onsite solar panels, small turbines, and heat pumps. This would reduce energy costs for tenants, helping to alleviate energy poverty and improving the association's reputation as a socially responsible and sustainable organisation.
PVolt's P2P network solution could also be utilised to distribute and control energy usage effectively. This would allow for more accurate billing for customers and monitoring of energy consumption, reducing waste and further reducing costs for tenants.
Furthermore, partnering with PVolt would provide access to their expertise in terms of support and advice. This would be particularly valuable for housing associations that may not have the resources or knowledge to implement energy-saving measures effectively.
A strategic partnership with PVolt could also provide additional benefits such as revenue share, a one-bill solution, additional revenue streams, and job creation. Revenue share would mean that the association could benefit financially from the energy generated and sold through the P2P network. A one-bill solution could potentially simplify billing for tenants, reducing administrative costs and improving the tenant experience. Additional revenue streams could be generated through the sale of excess energy generated by the partnership, providing an additional source of income. Finally, the creation of jobs through the installation and maintenance of energy-saving equipment would have a positive impact on the local economy and could have further potential for the association to benefit from.
Overall, the benefits of tackling energy poverty through partnership with PVolt are clear, and housing associations should consider these options as they seek to improve the quality of life for their tenants while also achieving their strategic objectives.