16/03/11
£258m flowing into Wales: the effects of an eco economic makeover
Wales could gain £258m from a burgeoning green economy, says Home Economics, a new Energy Saving Trust report painting an economic picture of a shift towards green industry.
Insulating all remaining fillable lofts and cavities in Welsh homes and replacing all G-rated gas boilers with modern condensing boilers and heating controls would also see 5,500 jobs supported.
By insulating fillable lofts and cavities alone, householders in Wales would save £36m on their fuel bills and 198,000 tonnes of CO2.
The study looked at the economic impacts for Wales for two ‘scales of ambition’.
- I. Lofts and cavity wall insulation
Insulating all the remaining fillable lofts and cavity walls in Wales would generate £155m in Gross Value Added (GVA) for the Welsh economy and support 3,500 jobs.
- II. Insulation and heating systems (featured in headline and intro)
Lofts and cavity wall insulation plus replacement of the least efficient gas boilers (G-rated) and installation of heating controls in all suitable Welsh homes would generate £258m in Gross Value Added (GVA) for the Welsh economy and support 5,500 jobs.
Philip Sellwood, Energy Saving Trust chief executive, says: “We are living in hard times, where people in Wales are tightening their belts and worried about jobs.
“A recent survey showed that 74 per cent of people are looking for ways to reduce their energy bills. Two-thirds said that now times are harder economically they are more interested than ever in how to save energy.
“While the Energy Saving Trust’s focus remains on cutting carbon emissions from Welsh residents’ homes, there’s no getting away from the hard number-crunching going on in the background.
“The economic benefits of sustainability, nationally and locally, need to be made clear more than ever. Energy efficiency makes economic sense – and this is a statement of what can be done. We hope our figures both invigorate a healthy debate and encourage people to take action.”
Home Economics also takes a snapshot of Britain’s housing stock, highlighting the biggest carbon ‘villains,’ which consist largely of big, draughty houses heated by electricity and oil, but exist in relatively small numbers.***
It also looks at the biggest problem – those house types, all owner-occupied and gas heated, that produce moderate CO2 emissions but which exist in such large numbers that together they account for a major proportion of our overall carbon emissions. The good news about these properties is they tend to have more space, making them generally suitable for renewable energy installations.
Sellwood added: “The UK’s housing stock is uniquely old and leaky. There are two problems to tackle – those homes which have high carbon emissions but are relatively few in number, and even more pressingly, those houses with comparatively lower emissions but which are very common.
“The Energy Saving Trust is here to provide guidance and support for people who are keen to make their homes more environmentally friendly but perhaps are not sure where to start. We offer a range of services and encourage anyone interested in learning more to contact us on 0800 512 012 or visit our website at www.energysavingtrust.org.uk.”
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