A recent survey conducted by Co-Ownership, which included 400 Co-Ownership customers, has revealed an insight into why homeowners would invest in energy efficiency changes. The survey, part of Co-Ownership's Climate Change Strategic Response initiative, reveals that whilst 8 in 10 would like to make changes in their home, just 41 per cent are driven by a desire to reduce their impact on climate change.
Almost all respondents (96 per cent) are motivated by saving on their energy bills whilst 63 per cent are interested in increasing their property’s value, and 54 per cent wish to enhance their health and wellbeing.
These insights are important as Northern Ireland strives to achieve a 48 per cent reduction in greenhouse gas (GHG) emissions by 2030 and become net zero by 2050. Residential properties, which account for 14 per cent of all carbon emissions in the region, are a critical area of focus.
However, Co-Ownership’s survey has also revealed that whilst respondents are aware of their impact on climate change, many are unsure about how they can tackle it. 84 percent expressed a need for support with the costs of making energy efficiency improvements, while 84 per cent also said they need support understanding and navigating the grants available. As a result, Co-Ownership has allocated £40,000 to a pilot grants programme, designed to support customers to understand the improvement options that may be available to them, and also provide the financial assistance.
Andrew Shott, Director of Finance at Co-Ownership, highlighted why the investment is important. He said, “Launching our Climate Change Strategic Response in April 2023 demonstrated the vital role that housing must play in Northern Ireland’s transition. The feedback we have received underscores the urgent need for collaborative action between government and the housing sector when it comes to the provision of energy efficient homes and grants to improve Northern Ireland’s existing stock.
“Improving the energy efficiency of new builds is a starting point, with many now being very efficient, but the real challenge lies with the existing 590,000 homes in the owner-occupied sector. We know the solutions – upgrading heating systems and improving insulation – but we must find effective ways to empower homeowners to make these changes.
Feedback from our survey demonstrates the demand for financial support and information to enhance home energy efficiency, and Co-Ownership’s investment in our £40,000 pilot grants programme shows that we are committed to supporting our customers meet the challenges of net zero.”
Co-Ownership also recently conducted an Energy Audit of more than 8,500 of the households it supports. It concluded that around 4,500 are energy efficient and rated grade A, B, or C.
A customer of Co-Ownership’s Co-Own for O55s product, Gerry, successfully applied for a grant under Co-Ownership’s current grants programme. As a result, he has been able to invest in an efficient, long-lasting heating system that will save him money on his energy outgoings each month. He said, “It’s made a world of difference – the house is so warm. I’ve been given the chance to own a comfortable and affordable home again, and for that, I’ll always be grateful.”
Co-Ownership is Northern Ireland’s only shared ownership provider, operating for over 45 years as a key part of NIs affordable housing landscape. It has helped more than 33,000 into home ownership since 1978, with more than 20,000 people buying out the Co-Ownership share to date.
