The recent collaboration between NatWest, Airbnb, and the Energy Saving Trust marks a significant shift towards enhancing energy efficiency in rental properties, particularly for Airbnb hosts. This partnership offers an exciting opportunity for property investors and hosts to upgrade their properties with green solutions.
Expanded Access to Energy Assessments and Financial Support
Airbnb hosts are set to benefit from broader access to energy efficiency assessments and financial aid for installing eco-friendly upgrades. This initiative is an extension of Airbnb’s earlier £1 million grant program aimed at supporting hosts in implementing green retrofit measures.
Additional Funding and Resources
Airbnb has increased its funding pot by an additional £500,000. Moreover, the company has developed an online ‘eco-hub’ as part of its Sustainable Hosting Plan. This hub provides free advice to hosts on improving energy efficiency and overall environmental performance.
Action Plans and Financing Options
With guidance from the Energy Saving Trust, hosts can receive a comprehensive home energy efficiency assessment and a tailored action plan. Notably, NatWest will offer a range of financing options to assist hosts in funding any recommended upgrades.
Local Marketplace and Project Tracking
The online tool will also feature a marketplace for government-accredited installers and contractors. Hosts can conveniently monitor the progress of their property upgrades from start to finish.
The Impact of Rising Living Costs
Amanda Cupples, General Manager for Northern Europe at Airbnb, emphasizes the dual benefits of this program: aiding hosts in making energy-efficient changes and helping them save on bills as living costs soar. This initiative is expected to contribute to the creation of sustainable communities across the UK.
NatWest’s Research and Strategy
NatWest’s research indicates that the high cost of retrofit measures is a significant barrier for homeowners wishing to enhance their property’s energy efficiency. Concurrently, a growing number of millennials consider a high Energy Performance Certificate (EPC) rating crucial when purchasing a home. Tanvi Gokhale, Head of Strategy for Retail Banking at NatWest Group, highlights the partnership’s role in easing the financial strain on homeowners and empowering them to improve their property’s sustainability.
The Wider Picture: British Gas Survey Insights
A recent survey by British Gas reveals a gap between landlords’ recognition of the need for green improvements and their plans to implement them. Over 80% of UK landlords acknowledge the need for more eco-friendly upgrades, yet only 23% are planning to execute these changes.
Knowledge Gap in Energy Standards
The survey indicates a significant lack of awareness among landlords regarding EPC standards and available financial support for upgrades. Many landlords are unaware of their property’s EPC rating or the grants accessible to them.
Misconceptions About Costs
A majority of landlords either do not know or have overestimated the costs of elevating their rental properties to EPC level C. Additionally, over half feel that neither the government nor the public is doing enough to combat climate change.
Call for Greater Support
Gail Parker, Director of Low Carbon Homes at British Gas, argues for more support for landlords to facilitate energy efficiency upgrades. The focus should be on making these upgrades easy and affordable for all, not just homeowners.