High energy bills prevent 43% of Brits from buying green tech

The skyrocketing price of energy and cost of living crisis have stopped 43% of Brits from buying low-carbon technology, according to our annual National Home Energy Survey.

Our survey of 2,134 adults shows that young people and middle earners were the most affected, with a majority saying they were less likely to buy green products this year because of the crises.

Low-carbon products like heat pumps and solar panels can help cut energy bills, but spiralling energy costs denied nearly half of all households the chance to buy green when they most needed to.

How many people have delayed going green due to the energy crisis?

43% of people said rising energy prices and monetary constraints have made them less likely to consider purchasing low-carbon technologies over the past year.

This is borne out by our survey’s figures on electric vehicle purchases, which show a drop from 2022, particularly among Gen Z (born 1997-2013), Millennials (born 1981-1996), and Gen X (born 1965-1980).

Just 16% of respondents said the energy and cost of living crises hadn’t made them less likely to buy green products.

Items like electric cars, heat pumps, and solar panels are good investments for a variety of green and financial reasons, but the upfront cost has understandably put many off buying in.

Unfortunately, this has come at a time when the need for us to go green is higher than ever.

Middle earners put their green tech purchases on hold

Rising energy bills and the general cost of living has had the biggest effect on middle-earning households, which have a total income between 40,000 and £149,999.

51% of people from these households said they were less likely to consider buying green products as a result, compared to 39% of all other income brackets.

Middle earners form the sweet spot for green purchases: they have enough disposable income to save up thousands of pounds for a heat pump or solar panels, and making that purchase can make a noticeable effect on their energy bills.

Just 29% of these middle earners said they haven’t considered purchasing low-carbon technology in the past 12 months, compared to 46% of people in all other income groups.

This is because people on lower incomes often don’t have the extra money to spend on green products. 56% of people from households with an income under £18,000 hadn’t considered a green purchase, which is fully understandable.

At the same time, the crises haven’t hit households with an income above £150,000 to nearly the same degree, meaning they can spend an extra £100 or £200 on energy bills every month without feeling the need to invest in a solution.

Which UK regions have had their green tech plans the most disrupted?

People in Greater London have had their plans to buy low-carbon technology disrupted more than respondents in any other region.

50% of Londoners said the twin crises of energy and general costs had made them less likely to make green purchases, followed by the north-west (48%) and Yorkshire (46%).

This makes sense, as the capital has a higher proportion of people in higher income brackets than other parts of the country, and would therefore have more people with dashed green plans.

On the other hand, people from Wales have been impressively resolute in their intentions.

The country had the highest rate of people saying they haven’t been put off making a green purchase – 26%, five percentage points higher than any other region.

And Wales also had the joint-lowest rate of people who said they haven’t considered buying a low-carbon item in the past 12 months, at 37%.

That means when it comes to wanting green technology and following through on this desire, people in Wales can’t be beaten.

Which generations have had their green tech plans the most disrupted?

The two youngest age groups, Gen Z and Millennials, have had their plans to buy low-carbon technology disrupted the most by rising energy prices and the cost of living crisis.

Unfortunately, these are also the most enthusiastic generations when it comes to going green – shown by the fact that just 30% haven’t considered a low-carbon purchase in the past 12 months.

People in Gen X leaned more towards their younger comrades, with just 37% saying they haven’t considered buying a green product, and 45% saying the crises had made them less likely to follow through.

On the flip side, a solid majority of Boomers (born 1946-1964) and the Silent Generation (born 1928-1945) said they haven’t considered buying a green product.

For some, this may be because they’ve already made relatively expensive long-term purchases like solar panels, a heat pump, or an electric vehicle, and don’t have the money to buy green again.

But generally speaking, green enthusiasm unquestionably belongs to the young.

Summary

If people can’t afford to buy green products to cut their energy bills (and carbon footprint) when their need is greatest, the system is broken.

When this group includes the majority of those in households earning between £100,000 and £149,999, there is a desperate need for government intervention.

UK homes need to go green on a broad scale to avoid more horrific energy price rises and to avoid the worst consequences of climate change.

The market clearly can’t make low-carbon products affordable fast enough to achieve this goal, so the government must step in with highly publicised grants that give people the chance to follow through on their obvious enthusiasm for low-carbon technology.

To see how these results compare with last year’s survey, check out our National Home Energy Survey 2022.