3 ms·
> The underinvestment into insulating old buildings was staggering when compared with Central Europe. Nominally, GDP per capita is ~2.6x higher in the UK than
by laurencerowe 3y ago
> The underinvestment into insulating old buildings was staggering when compared with Central Europe.
Nominally, GDP per capita is ~2.6x higher in the UK than in Poland ($46.5k/$18k) while domestic gas prices are only about 20% higher [1]. Renovations are mostly labour costs so the expected return on investment is almost twice as good in Poland as the UK.
Ultimately the issue is that energy prices in the UK are too low.
[1] https://assets.publishing.service.gov.uk/media/5a749056e5274a410efd09a6/International_Energy_Price_Comparisons_September_2017.pdf https://assets.publishing.service.gov.uk/media/5a749056e5274...