Mitigating the cost of oil

 There were over 150,000 home sales in 2021, after dramatically falling to 32,450 in May 2020 during the peak of the coronavirus (COVID 19) crisis.

It is reasonable to imagine that between 15 and 20% of the housing stock is sold each year and that is a pretty good start at moving the housing stock into Climate Change mitigation in short order.

Financing the renovation of these houses, most built in the middle of the last century, is not hard. It will mean that financing this development will have to be part of the cost of the house (and will be a consideration for building societies).

Part of these renovations will include harvesting solar electricity, heat and water taking houses out fuel demand altogether.

The mechanism will be in the reform of stamp duty to cover the cost of renovation at perhaps 10% of the price of the house.

Renewing 10/20% of the UK housing stock each year and at no cost to the public purse would be both a huge boost to the economy and employment.

Furthermore, the associated ability to have distributed energy production (without the need for huge power grid cables marching over the countryside) with energy saving and nationally distributed storage (batteries) will be a boon.

Revenue generated from second sales will be useful for adding climate change mitigation investment. This can be as fundamental as stormwater protection, drought alleviation, end-of-street power storage (long lived big batteries), community mesh wifi infrastructure and so forth. There will never be enough climate mitigation investment in the home and in the community but is a significant start and at no cost to the Treasury.

Its all in the book: amzn.to/3RgR4Vf