Majority would hold onto cash made through saving energy

Post by Kevin on 24th October 2011 in

Majority would hold onto cash made through saving energy

Only 10 per cent of people would reinvest money they had saved by implementing energy-saving measures in their home, new research has found.

Half of the 2,086 people surveyed by the Energy Saving Trust said if they managed to save £400 after taking green measures such as installing solar panels or extra insulation, then they would hang on to the cash.

The organisation found that 12 per cent would use the money to pay for a new domestic appliance such as a washing machine, flat-screen television or a smartphone. However, the trust said that if everyone in Britain reinvested their £400 to pay for further energy-saving measures, then £2bn could be knocked off the UK's annual fuel bills. In addition, almost nine million tonnes of CO2 could be prevented from entering the atmosphere each year.

Philip Sellwood, chief executive of the Energy Saving Trust, said: "We are currently in austere times so it’s no surprise that UK householders are trying to make every penny count.

"But we are missing a trick by choosing to bank our cash from energy-saving measures or spending the money saved on more gadgets. If we chose to reinvest the money saved in further greening our homes we could make even bigger savings in the face of rising energy costs."

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