According to a study conducted by Swedbank, improving the energy efficiency of a home has become as important to Estonians as the cost of renovation work. “Our study has shown that when deciding whether to renovate, people primarily consider their financial situation and the desire to make their lives more comfortable. At the same time, the cost of work and energy efficiency are almost equally important to people. We are happy to see such a picture, because improving the energy efficiency of a home is a long-term investment aimed at both reducing housing costs and preserving the environment,” says Anne Pärgma, Head of Home Loans at Swedbank. Estonians are most willing to invest in LED lighting (50%), purchasing electronic goods with energy efficiency class A or higher (49%), improving energy efficiency (32%), such as reducing heat loss, installing solar panels or geothermal heating, and smart solutions that increase energy efficiency (20%). Almost a third of respondents said they are willing to invest in all of these solutions. 35% of respondents always choose the most energy-efficient electronic device, and 30% first evaluate whether the higher price is worth it. At the same time, only three percent of respondents said they do not consider energy efficiency at all when purchasing an appliance. Almost two-thirds of respondents (61%) say that the average energy class of household appliances in their homes is A or higher. “Home renovation is often a major undertaking for people and an investment that should be used as efficiently as possible. It is always a good idea to make an extra effort to improve energy efficiency – from replacing windows and doors to installing solar panels. Our goal is to encourage our customers to make such forward-thinking and environmentally friendly decisions, and to this end, we have also developed more favorable lending terms for both energy-efficient renovations and solar panel installation,” added Pärgma.
