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EPCs – a pale shade of green

Now COP26 has finished and the “phasing down” of coal has been agreed, we can start to see where the future lies in government policy and world-wide long-term thinking on energy and, in turn, Energy Performance Certificate’s (EPC’s).

The property sector has a role to play in the powering up of renewable energy and the lowering of emissions, but how will this come about and how can property aid this seismic shift?

In short EPC’s will most likely become more powerful and the way some commentators were talking last week could start to power the value of homes, with the potential (and I hasten to say “potential”) that leveraged finance could be balanced against the eco credentials of a home. However, with everything there should always be checks and balances.

In addition the matrix in how we measure a homes’ greenness is also coming under scrutiny as they were drawn up under the 2013 Building Regulations, which some commentators are now saying is out of date, this in turn could change the way in which we measure our EPC’s.

The rural market will feel this more than anyone as there are currently 1.5 million houses using oil boilers, whilst they are “efficient” they are by no means green. The polar opposite to a heat pump, which can be green, but not always efficient. This is mainly due to how new the technology is and therefore due diligence on the system you consider buying should be sought before it is installed.

It is also worth noting that power supplies in the countryside are prone to power cuts, rendering heat pumps impotent, but then to add a little PV and battery into the mix should satisfy such a glitch and not only tick another box on the COP26 list, but also increase your capital asset, your home. Charlie Giffard, BSc DipSurv, Country House Sales, Associate Partner

https://www.estateagenttoday.co.uk/breaking-news/2021/11/epcs-are-misleading-and-out-of-date--claim

Charlie 2021

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