To reduce electricity consumption in their households, 60% of interviewed Latvian residents took measures to reduce everyday electricity consumption last year, according to results of a survey by Luminor Bank.
The survey was conducted in December 2022 with help from Norstat Latvia. A total of 1 008 respondents aged 18 to 74 years were interviewed. Results indicate that residents of a younger generation do not think about solutions to reduce energy consumption all that much.
More than one-fifth of respondents admit having done nothing to reduce costs,
and as many have no plans to adopt energy austerity solutions in the future.
Residents in the 60-74 years age group (72%) have adopted measures to reduce everyday electricity consumption. Half of residents in the 40 to 49 years age group said the same. At the same time, every fifth respondent admitted that one of the measures they have employed to help reduce energy bills was reducing indoor heating by a couple of degrees. This response was mentioned the most often by residents of Riga and Pieriga.
«With prices on a rise, the issue of improving energy efficiency of our dwellings becomes all the more topical. We have noticed that our clients are interested in sustainable solutions. Often our clients take loans to afford these solutions,» says the bank’s lending office manager Kaspars Sausais.
Every eighth respondent said that in order to reduce electricity costs they have picked additional energy efficiency solutions. Such a response was given by men more often than women. Only 4% of respondents admit they have agreed on energy efficiency solutions with other apartment owners in the building they live in to help reduce electricity costs.
To reduce energy costs, more than every fifth respondent mentioned having plans to replace lamps and other electrical appliances to more energy efficient models. Every tenth respondent plans to invest in renovation or improvement of their home’s heating system.
At the same time, approximately one-fifth of residents have not yet considered adopting any energy efficiency improvements in the future. Most often this response was given by youngsters 18 to 29 years of age (29%). Every seventh respondent in this age group also said having put no thought into reducing their future energy costs because they have no information about such solutions.
«Every eighth resident is not interested about ways that may help them reduce energy consumption in their home. The reason is because they are certain they will be able to pay the bills. At the same time, every eighth also thinks solutions like that are expensive. However, in a time when energy prices are high, even a simple solution like replacing a light bulb for a more economic one can help reduce monthly costs,» admits the bank’s expert.
Also read: Electricity price up by one-fifth in November, down by half last week in Latvia