PERHAPS you’re living in Spain but you have rented out a private or business property? Are you aware of the new regulations brought in as part of the Energy Efficiency (Private Rented Property England and Wales) Regulations 2015 Act?
As of April 2018 commercial and domestic landlords will need to make sure all rented properties achieve an Energy Performance Certificate (EPC) of at least an E rating.
The EPC is a central component of the government’s strategy to improve the energy performance of property in Britain. An ‘A’ EPC is considered the most efficient and a ‘G’ rating the least efficient – properties with higher ratings will have lower on-going energy costs and have been to found to achieve a higher sales valuation.
An EPC assessment will outline what energy efficiency measures can be installed to increase the overall rating of the property – Government guidance states that where the measure has a pay back is under 7-years it will be expected that measures are installed.
One of the improvements recommended by the Residential Landlords Association to meet the Minimum Energy Efficiency Standards is to have sustainable energy systems installed in a property. Air Source heat pumps, Solar hot water and solar PV are all recognised ways of increasing an EPC rating and lowering energy costs.
Solar PV systems can also create an on-going revenue stream for landlords through the feed in tariff initiative. System owners can generate low carbon energy to sell to the grid and to their tenants too – many Landlords increase the revenue generated by their properties by investing in solar.
Lower cost measures such as LED lighting, draught proofing and increasing insulation levels all improve the energy efficiency of properties for a small price. There are a number of companies with EPC assessors that can provide advice to Property Professionals on how to ensure you comply with these new regulations.