Astronomical cost burden risks becoming a ‘toxic issue’ for the government
The Global Warming Policy Forum (GWPF) has welcomed a new parliamentary report that accuses the government of seriously underestimating the cost of decarbonising Britain’s homes.
The cost warnings by MPs has serious repercussions for owners of energy inefficient homes who face the prospect of unsellable properties just over seven years from now.
The Climate Change Committee (CCC) has recommended that no UK homes can be sold from 2028 onwards unless they meet the minimum Energy Performance Certificate rating. According to the House of Commons Environmental Audit Committee 19 million home owners would have to spend an average of £18,000 to reach that target.
Last year we warned that the capital cost of decarbonising housing was likely to approach £1 trillion. BEIS and the Committee on Climate Change, however, are insisting it can all be done on the cheap. Now at least some of their misleading claims have been exposed by MPs,” GWPF director Benny Peiser said.
The report, from the House of Commons Environmental Audit Committee, says that bills may run to an average of £18,000 per property, with the cost of heat pumps to be added, but without even considering the costs of installation larger radiators that will be required in most homes.
The Committee’s own estimates, however, are still too conservative. The committee’s £5000 figure for installing heat pumps is simply not credible.
It is clear from the committee’s report that BEIS was highly deceptive in its cost estimates while BEIS and the Climate Change Committee still refuse to publish their cost calculations. They need to come clean with the public.
Dr Peiser warned that the astronomical costs of Net Zero risks becoming toxic for the government in coming years.
The economy is in tatters and yet the government expects struggling households to spend tens of thousands of pounds to comply with its Net Zero agenda. The government should reject the Climate Change Committee’s recommendation on decarbonising buildings or face being responsible for making millions of homes unsellable.”