UK Consumers Invest in Energy Efficient Technology – Is the UK Going Greener?
According to a new report by the Cooperative Bank, UK consumers are investing more money in energy efficient technology. The report found that in 2008 spending on energy efficiency products reached nearly £400 million, which breaks down to £155 per household.
Energy watchdog Ofgem figures show that people could save over £100 a year by switching gas and electricity suppliers, which would then just about cover the cost of household spending on energy efficient products.
Items included in the list of energy-efficient products were boilers, light bulbs and batteries. Changing to energy-efficient products can lead to cheaper gas and electricity bills, as well as reducing carbon emissions.
Chief operating officer at the Cooperative Bank, Tim Franklin, said: “In order for the UK to reduce its carbon emissions by 30 per cent by 2020, there will need to be a step-change in take-up of low carbon technologies, and this will need a new contract between business, government and the consumer.”
He also said that the results provided evidence that the UK was working towards a greener lifestyle.