We have noted that although rent prices have gone up, the proportionate warm operating costs have also increased. This is what we are consistently told by word of mouth from our installers fitting new central heating systems around England, Wales, Scotland and Northern Ireland. Moreover, looking to our neighbours in Germany, the Federal Association of German Housing and Real Estate Companies (GdW) have actually been able to quantify it – last year rents went up 2.2% and warm operating costs for the property went up 2.8%. We know that the biggest expense to run a property, whether as a renter or landlord, is the heating and water costs. This can sometimes be a topic of debate or even argument over the years too. With costs of running properties increasing more than the actual rent, this should be a reason to call for a better and more reliable system of warming homes in the UK. Fossil fuels is not the answer as Forbes recently noted.
They stated there are four reasons why now is a better time than ever to make the shift to renewable energy:
1 Oil prices are unpredictable.
2 Oil price volatility is likely to remain high, and this is economically costly.
3 The true cost of fossil fuels like oil is much higher than the current market price.
4 Renewable energy prices are falling fast, a trend that will continue.
We view the relative rise in costs to run the home, rather than the actual rental as a priority and as an investment which residential property owners can see returns in.
Moreover, taking care of tenants and their costs is a good way to relieve some of their tensions too. Landlords want to make money from renting out properties as easily and reliably as possible with the least amount of hassle with a tenant, keeping them as long as possible to reduce churn costs. Following gardening, cable TV, and other ground costs, additional costs can be substantial. Prior to the onset of the long winter is the time for property owners to switch from broken oil boilers to new biomass ones, like ours or excellent companies you can find in the Wood Heat Association. As the Association says:
‘Wood fuel is one of the cheapest heating fuels around. In the UK, it is competitive with mains gas and is significantly cheaper than other off-grid solutions, such as electric heating, oil and LPG. Wood fuel can cut your heating bills by a third if switching from oil and by two thirds if switching from electric heating.’
Additionally, there is a direct link between investing in renewables in the home and contributing to the community and supporting jobs. Rather than offshore jobs in oil and gas locations, which are not sustainable in the long term and also don’t give jobs to our locals, we see renewables such as biomass are a great solution not only for being available in the future, but also to retain jobs.
There was an interesting study where building owners (54%) and tenants (65%) agree that making buildings more energy-efficient will create new construction jobs, read it here.
Additionally, readers might not know, but in the UK, we have enough unused forests commensurate to about 3 million barrels of oil, just rotting away, when they could be pruned and regrown for our energy. If you want to know more about this, check out our article here.
You might be asking, so what does biomass and renewable energy look like? See the different technologies below:
And here is a financial incentive, if you want to see how the Renewable Heat Incentive (RHI) from the UK government can help subsidise your investment, just check out our information here. This is a Government-backed scheme designed to financially reward those who use renewable energy and make it worth while to produce renewable heat. Thousands of happy Innasol customers have already started to reduce their energy bills, become more self-sufficient and earn some extra income while reducing their carbon footprint. You are eligible for the incentive if you are a domestic user who operates biomass boilers, heat pods and heat pumps. Once our efficient and latest technology renewable heating systems are installed, the domestic RHI scheme provides you with guaranteed, index linked payments for seven years with tariff levels even higher than the commercial RHI. So not only will you add value to your home, risk manage the longer winters, and high operating costs of heating the home and water, but also, get a little help along the way.
Contact us now to find a partner who can help you. We have over 2000 partners who are in metropolitan and rural locations around the entire UK who are green champions and passionate to help you add value to your home, save the environment and save your wallet when it comes to heating costs.
If you want to see other ways we see renewable energies relative to fossil fuels, please read our thoughts here.