Around 51% of homeowners said the biggest barrier to making energy-efficiency improvements was meeting upfront costs.
According to figures from the Building Societies Association (BSA), a further 51% said they were concerned it would take too long to recover the costs of making energy-efficient improvements.
Approximately 37% said they didn’t know how much energy-efficiency improvements would save them.
Around 57% said a cheaper energy tariff would encourage them to make changes to their property, while 53% pointed to a lower council tax rate.
A cheaper mortgage and evidence that energy-efficiency improvements would improve their home value were cited by 32% and 38% of homeowners respectively.
More than a third said clearer information and reassurance of the work quality would motivate them to make changes.
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Over three-quarters apiece thought energy-efficiency improvements replacing windows and doors or upgrading the central heating would add to a property’s value.
However, less than one in five have replaced their windows and doors and only 14% have upgraded their central heating in the last 12 months.
There is also a discrepancy between those who have considered making more costly changes and those that go through with them.
As an example, 17% have considered putting in solar panels, but only 6% have gone ahead with installations.
Approximately 9% have considered installing renewable energy sources like heat pumps, but only 5% have followed through.
Paul Broadhead, head of mortgage and housing policy at the BSA, said: “There is clearly a great deal more to do if the energy efficiency of the 29 million homes in the UK [is] to be improved sufficiently to meet the UK’s net zero by 2050 commitment.
“With the recent hike in energy costs, it’s no surprise that our research shows homeowners have an appetite to make changes. However, action is hindered by insufficient information, people, processes, skills and infrastructure to decarbonise homes at the level required.
“We urgently need a government-led strategy, including details of any incentives, that will give businesses the confidence to invest in building the industry that will be required to support the decarbonisation transition, and [that] will provide homeowners with access to information that will enable them to plan the best approach for their property with the knowledge and confidence in what it will deliver.”
