Beacon Homeloans has released new research which found a lack of green knowledge amongst consumers with only 25% of those surveyed understanding what the term carbon neutral means.
In addition, one in four respondents said they would not invest any money to improve their homes green credentials.
Despite this lack of knowledge and possibly due to extensive media coverage, over a third of respondents (34%) expect carbon neutral homes to become the norm in the future – as people look to reduce their carbon footprint.
The research also found that 25% of all respondents said they would refuse to spend a single penny to improve their homes green credentials and the majority (47%) would only spend up to 1,000 in order to make improvements.
Only 19% would be happy to spend between 1,000 and 5,000 and a mere 7% would spend over 5,000 in order to make their home more environmentally friendly.
Most respondents (57%) state that saving money in the long run is their main motivation for making green improvements to their homes.
The rest had more altruistic reasons, with 29% doing so in order to create a more sustainable way of life and 11% refusing to make any green improvements at all.
Jeremy Russ, head of marketing and compliance at Beacon Homeloans, says: With green issues currently such a hot topic in the media, it is surprising to find that only a quarter of respondents could accurately define the term carbon neutral even though many expect these types of developments to become more popular in the future.
Although it is encouraging to find that almost half of respondents are willing to spend money to improve the green credentials of their home, they are not willing to spend enough to make the most effective changes.
It is also disappointing to see that the main motivation behind their efforts is to save money, as opposed to lowering their carbon emissions or helping the environment.