858. The Review has found clear evidence that net zero can offer real benefits to us all. In particular, measures to reduce our GHG emissions can offer:
• Cost savings, including cheaper bills;
• Homes that are warm in winter and cool in summer;
• Cleaner air and less congested streets;
• Greater access to nature;
• Improved health and wellbeing;
• New jobs spread around the country; and
• A boost to local high streets.
859. New analysis carried out by the Review finds that the average household will make a cumulative saving of £400-£6,000 by 2050, under planned net zero measures and the funding commitments made at the recent Budget.xxix This is because electric vehicles are cheaper to run than petrol and diesel vehicles, and energy efficiency measures will significantly reduce people's heating costs. Heat pumps may be cheaper to run than gas boilers, depending on a range of factors.
860. Some of these savings can be achieved today. Actions taken today can save money, tackle the cost of energy crisis, and help to deliver net zero. For example, reducing energy demand by adjusting boiler flow temperatures can save people money and reduce pressure on gas supplies, while also providing greenhouse gas emissions reductions.
861. Energy bills can be permanently reduced, helping to combat fuel poverty. Greater energy efficiency, smart systems and other household technologies will reduce energy demand and cut bills, bringing particular relief to fuel-poor households.
862. Net zero can also add value to homes. Installing energy efficiency measures and low carbon heating will increase its value by around £10,000 on average.595 Homes will also be able to produce power by installing, for example, solar panels, and then selling surplus energy - or indeed energy stored in electric vehicles - back to the grid. Green mortgage offers may be able to provide better rates for homes with higher energy efficiency ratings or who want to improve their property's rating.
863. Health and wellbeing can also be improved. Low carbon homes are warmer in winter and cooler in summer, making them more comfortable environments and improving people's health: 63,000 deaths were caused by excess cold in 2020-21, and many more people suffer physical and mental health conditions, in part due to living in cold homes.596 Temperature rises mean that more people are suffering from extreme heat in the summer months too, which caused over 56,000 deaths in 2021.597 Increased active travel, like walking and cycling, and access to green spaces, can improve people's physical health and mental wellbeing. This, alongside growing public transport use, can help to reduce air pollution and the many health complications that come with it. Ill health often necessitates heating your home more frequently, and so improving health and wellbeing can also help to avoid higher energy bills.
864. This will save the NHS money. Illnesses caused by cold homes costs the NHS about £1.4 billion a year, while physical inactivity is estimated to cost it around £0.9 billion a year.598, 599 By making people's lives longer and healthier, net zero can reduce burdens on the NHS, freeing up resources for investment elsewhere.
865. Net zero can provide new job opportunities. The Government's planned pathway to net zero carbon emissions by 2050 could support 1.18 million direct jobs by 2050.600 Improved health outcomes will reduce the number of sick days that workers need to take. For example, active travel can help people to improve their physical activity and consequently take fewer sick days. Meanwhile, improving public transport services and active travel infrastructure can cut time spent commuting and increase people's access to jobs around the country, helping to ensure that the skills and services needed for a net zero economy are available.
866. And with more money in their pockets, people can spend more. With the right measures in place, this can boost the low carbon economy and support jobs creation; spending on making our buildings low carbon, for example, has supported 45,000 green jobs since November 2020.601 Much of this demand can be met by small and medium sized businesses in local communities, and better connectivity and improved local environments are further attracting people to spend in their local highstreets. Individuals can drive growth both at a national level, and at a regional one.
867. Many people recognise these benefits and are already taking action to secure them. BEIS's Public Attitudes Tracker showed that 98% of people are already taking at least one action that can help to tackle climate change.602 Opinium carried out an online survey of 2,000 UK adults aged 18+ in October 2022. Results show that:
"45% of the UK population are already taking personal action to reduce their carbon emissions. 11% plan to within the next 6 months, and a further 11% plan to in more than 6 months' time."603, 604
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xxix In 2021 prices, undiscounted. This excludes impacts of any potential future changes in fuel duty.