The climate change deal in Paris has sent shock waves through the property world this week, with a decision that is likely to be the end of residential gas usage in the UK.
The plans hope to phase out gas use in hobs, cookers, fires and boilers within 15 years, with 23 million homes having to replace their gas appliances.
The government will be keen to implement the use of alternative technologies, such as heat pumps, wind and solar power, options which are already becoming more popular across the UK.
In the short term, the new regulations will have an impact on those renovating or refurbishing properties, who will have to make considerations about the type of heating and cooking systems that they fit. Many manufacturers are likely to stop making gas powered appliances order to comply with regulations, so it is sensible to consider the implications now.
Currently, the alternatives can be expensive to fit and run, so are often seen as a less attractive option for both property developers and prospective buyers and tenants in the short term. At the moment, a well-maintained gas central heating system is viewed as a selling point for a property, but in a few years' time it will represent a fairly substantial renovation job needing to be done, so many buyers may be less inclined to purchase a property with one in place!
As well as residential properties, gas-fired power stations must close their doors by the mid-2030's, unless steps can be taken to remove the dangerous as from the emissions.
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