With many people now choosing to stay within the UK for their holidays since the beginning of the pandemic, it may be time to become more energy efficient so that you can enjoy an additional profit.
UK holiday bookings were up by a staggering 300% during 2021, and it shows no signs of slowing down. However, this does mean that increased competition is squeezing harder on margins, placing pressure on our hosts who are letting out their holiday homes.
As we all know, one of the major costs of running a short-let property is utility bills. Whether your property is occupied or not, energy bills are going to accrue. The best way to make your holiday let a success is to ensure that your bills stay low. That is not only good for your wallet but helps to keep your emissions low which helps in the fight against climate change.
So, in a world with very high energy prices, what can you do?
Becoming More Energy Efficient
When you have switched energy suppliers, it is always a good idea to try to save money by reducing energy usage. There are lots of ways to reduce your holiday home’s energy consumption. Starting off with smaller upgrades may be more cost-friendly and a great way to get started.
Switch to LED Lights
Because of their high lumen output per watt, LEDs are capable of turning about 70% of their energy into light - this makes them much more efficient than other bulbs, which waste a lot of energy by turning it into heat. It only takes a 6-watt LED bulb to produce the amount of light that a 40-watt incandescent does.
How Much Could Upgrading To LED Lights Save You?
Switching your building’s lighting to LEDs is a quick, easy, and low-cost win to reduce your electricity costs and switching has the potential to reduce your lighting costs by as much as 90%. Whilst the initial cost of installing LEDs is more expensive than other types of bulbs, the long-term benefits of LEDs far outweigh the upfront costs.
Making the switch can also help with your business’s carbon reduction goals – by switching to a bright LED bulb you could save around 5kg of CO2 emissions. To put that into perspective, if all 28 million homes in the UK made the switch, we could save 1.7 million tonnes of CO2 emissions annually.
Switch to Motion Sensor Lights
For areas of your property where light only needs to be on when people are passing through, we would recommend switching to a motion sensor light. This ensures that lights aren’t left on unnecessarily, for example in a hallway.
There are various options and styles available so it will largely come down to personal preference:
Smart Thermostat
Smart thermostats are equipped with Wi-Fi, sensors, advanced algorithms, and much more.
We have put together a list of the potential benefits of smart thermostats.
Control Heating from Your Phone or Ours
There are times when guests will leave the heating on and go out for the day. Obviously, this isn’t good for the environment, nor is it good for your bottom line!
With the addition of a smart thermostat, if you know that they have left your property, you are able to turn the heating down remotely, without the need to enter the property.
Equally, Pass the Keys is able to ensure that the heating isn’t left on between stays, nor does it ever get switched up to an unnecessarily high temperature for long periods of time.
In addition to this, many smart thermostats allow schedules to be created. For example, fix a maximum temperature for during the night.
Saving Money on Energy Bills
Smart thermostats are accurate and informative. Using the manual and the energy-saving tips that smart thermostats provide, you can more accurately zero in on the correct temperature zones to save you money on energy bills.
The Nest Thermostat predicts you will save 10-12% on heating costs and 15% on cooling costs.
Ecobee says you’ll save around 23% on both heating and cooling. Other smart home thermostats have similar projections.
Tracking Energy Use
A smart thermostat also provides energy reports about how much power you are using. Also, they show how your energy use has changed over time, and how much this is likely to cost you. As a result, these reports are typically bundled with tips on how to adjust temperatures to save money as well.
Consider Energy Ratings on New Appliances
When the time comes to invest in new appliances, ensure that the energy rating is high. This will mean that you are doing everything you can as a Host to minimize the energy usage of that appliance
Larger Changes
For larger savings, you may have to invest in solar panels, new cavity wall insulation, new double glazing and look at ways to reduce heat loss.
Solar panels may even allow you to generate additional energy which you can sell back to the grid to generate additional income. This may only work effectively if your holiday home is an open area where it attracts lots of sunlight. You may be eligible for a government grant to help with the cost of installation. These investments can be costly, but they often pay for themselves within a few years.
Considering the effectiveness of your existing heating system can also be helpful. If you have an old boiler system, consider upgrading to a new, high energy rating combi boiler. They are efficient at providing hot water and heating to homes. Whatever your existing heating system, ensure that you schedule annual boiler service into your property maintenance calendar. An annual boiler service can improve the efficiency of your boiler by 15%.
Survey Your Property
Conducting an EPC survey is now a legal requirement for homes in the UK that are intended to be rented. However, regularly reviewing your EPC report is a great way to review ways you can reduce gas and electricity usage.
The report includes cost-effective ways you can improve the energy efficiency of the home. The Energy Saving Trust is also a great resource for homeowners looking for cost-effective ways to reduce spending on gas and electricity.
Search for an accredited energy surveyor in your area. Contact them directly to arrange a viewing.
Upgrade Heating
Ensuring that your holiday let is properly insulated is a guaranteed way to ensure your energy costs stay low. The Energy Saving Trust has calculated that 25% of heat can be lost through the roof, with more than double lost through the walls. Heat escapes from the roof and walls of your home, meaning your boiler must work harder to keep your property warm. Mineral wool insulation is cheap and can often be installed without the need for a professional installer.
Installing double or triple glazing to your windows also helps to improve your home’s efficiency. This can be expensive, and in some properties, it may not be possible. But simple measures can also help to reduce draughts and windproof your homes, such as using heavy curtains and blocking gaps around windows and doors. Don’t forget about your hot water tank or cylinder if you have them. Ensuring they are well insulated will also help to keep your gas bills low.
Consider applying pre-set timers to your heating, radiators, and air conditioning units - this is something we can help with. This will give you confidence that heating bills will not be extortionate when you have guests staying at your holiday let.