Energy Performance Certificate (EPC)
What is an Energy Performance Certificate?
An Energy Performance Certificate (EPC) gives information on how energy efficient a property is and gives it a rating from A (very efficient) to G (inefficient). The average EPC rating is D. An EPC measures the energy and carbon dioxide emission of the property, it will indicate the possible cost of heating and lighting your property and outline what the carbon emissions are likely to be.
The EPC document will contain a ‘recommendations report’. This will show suggestions on what improvements will impact the property’s energy use and carbon dioxide emissions. Possible improvements could include the fitting of loft insulation or energy efficient light bulbs. If you made the recommended improvements the report will indicate the possible cost savings per annum and the change, if any, to the energy performance and carbon emission rating of the property. This valuable information will help you to keep your property warmer and cheaper to run.
Legal Requirement
All homes bought or sold must have an EPC as a legal requirement. As of 2018, all rented properties in England and Wales are required to get an Energy Performance Certificate. The EPC rating for renting a home needs to be band E or above.
Why do we need an EPC?
EPCs allows sellers, buyers and renters to see the typical costs of keeping the property warm and the efficiency improvements that can be made. By the EPC listing the recommendations and the effects on both cost savings and ratings, the property owner will be able to make informed decisions on which improvements they may want to carry out first. It’s not compulsory to act on such recommendations, however, it could make the property more attractive for sale or rent, purely by making it more energy efficient.
How long does the EPC last?
Energy Performance Certificates are valid for 10 years from the date of issue. If you are selling or renting a property you will need a valid EPC.
Our consultants at Financial Advice Hub will discuss your needs with you, and arrange an assessor to visit your home for an EPC assessment. Although EPCs are mandatory for those selling or renting their properties, general homeowners can also take advantage of the benefits that an EPC assessment offers, as information will be given to lower your rating which will help you to save on energy consumption and assist in lower utility bills.