Clydesdale and Yorkshire Banks’ Research Reveals Only 12% of UK Homeowners Powered by Renewable Energy Sources
31 August 2015
New research from Clydesdale and Yorkshire Banks today (Monday 31st August) revealed that only 12% of UK homeowners are powering their homes with renewable energy sources, such as solar panels or ground source heat pumps.
Of those who have changed to a renewable energy source, 75% believe it has been a good investment, however a quarter feel that the level of returns do not justify the initial outlays.
Those in the East and Yorkshire are the most focused on investing in green ways of heating their homes, with 17% having taken action in contrast to just 7% in Scotland and the North West and 8% in Wales.
Regional Breakdown of those who have installed renewable energy sources:
| Region | % who have installed renewable energy sources such as solar panels or ground source heat pumps |
|---|---|
| East | 17% |
| Yorkshire | 17% |
| Midlands | 14% |
| London | 14% |
| UK average | 12% |
| South East | 12% |
| South West | 9% |
| North East | 9% |
| Wales | 8% |
| Scotland | 7% |
| North West | 7% |
For 11%, renewable energy sources were something they had never thought about whilst 7% were confused about the different options and were unsure which would work best for their own home. A further 7% were concerned about the negative impact they could have on the look of their home.
Steve Fletcher, Director of Retail Banking, Clydesdale and Yorkshire Banks, said: “Homeowners have different priorities when it comes to their dream home and our research highlighted that one in five UK homeowners is keen to install a more environmentally friendly energy source, however believed that the costs would be prohibitive.”
Clydesdale and Yorkshire Banks offer a range of competitive personal loan rates, which can be used for home improvements, such as solar panels which can range from £6,000 to over £10,000 for installation.
New and existing customers can take an unsecured personal loan of between £7,500 and £15,000 with a rate of 3.8% APR*. Rates on loans between £5,000 and £7,499 have recently been cut to 4.5% APR* while loans over £15,000 are available at 4% APR*. The rates will be available until Wednesday 30th September 2015.
For more information, customers can contact their local branch, call 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank, or visit our websites: www.cbonline.co.uk or www.ybonline.co.uk
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.