Airbnb is launching a new Sustainability Hub to help UK hosts retrofit and improve the energy efficiency of their homes, in a partnership with NatWest and Energy Saving Trust.
As part of the partnership, Airbnb will add an additional £500,000 to its £1m fund, with hosts interested in making sustainability improvements able to apply for a grant of £1,000 towards their renovation bill.
The new platform will also provide financing options from NatWest, a marketplace with government accredited installers and contractors in the local area, and a dashboard to track the progress of works through to completion.
Home energy efficiency improvements like fitting insulation or replacing an old boiler, can help save on bills and reduce carbon emissions but often come with daunting upfront costs.
Data from NatWest found that for UK homeowners, the cost of having work done was by far the greatest barrier to energy efficiency home improvements — although one in four millennials see a high EPC rating as essential when buying a home.
The cost of living crisis has been a driving motivation for many Hosts on Airbnb, and reducing energy costs can have a significant impact.
Airbnb data revealed that more than a third of hosts across the UK say they host to help afford the rising cost of living, while almost a third say the additional income helps them make ends meet.
The typical UK Host earns just over £6,200 yearly — equivalent to two months additional pay for the median UK household — by renting their space on Airbnb.
Amanda Cupples, general manager for Northern Europe at Airbnb, commented: “As living costs continue to rise, we look forward to collaborating with Natwest on this campaign to bolster the UK’s stock of energy-efficient homes, benefit everyday hosts, and help to build sustainable communities across the country.
“Our Sustainable Hosting Plan has already helped hundreds of hosts make energy-efficient changes to their homes and save on their bills in the process and we recognise the difference it can make to our community.”
Tanvi Gokhale, head of strategy for retail banking at NatWest Group, added: “Our partnership with Airbnb brings together two organisations proudly committed to supporting people to navigate this acute squeeze on their finances.
“By surfacing our innovative financing options in the Airbnb journey, we will empower hosts to take proactive steps to improve the sustainability of their properties.”
