Nick explores the future of Energy Performance Certificates (EPCs) and the upcoming changes in energy assessment methodologies. He discusses the current RDSAP 2012 version and the anticipated RDSAP 10, which is set to introduce a more rigorous assessment process by early 2025. Nick explains the transition to the Home Energy Model Future Home Standard, which aims to replace EPCs and align with the UK's climate goals. He highlights the importance of modernising the assessment methodology to reflect current political and technological landscapes, emphasising the need for transparency and adaptability in energy assessments. The episode provides insights into the implications of these changes for property owners, tenants, and the energy assessment industry, while also addressing the potential impact of new technologies like AI on the implementation timeline.

KEY TAKEAWAYS

1. Transition from RDSAP to Home Energy Model: The current methodology for energy performance certificates (EPCs) is RDSAP 2012 version 9.94, but plans are in place to transition to RDSAP 10 by early 2025, followed by the introduction of the Home Energy Model Future Home Standard, which will replace EPCs.

2. Increased Data Requirements: RDSAP 10 will require more detailed assessments, including measuring all windows and open fireplaces, leading to potentially higher costs for obtaining an EPC due to the increased workload for assessors.

3. Government Commitment: All major political parties have expressed commitment to the Home Energy Model project, which is designed to align with the UK's climate policies and the legally binding Paris Agreement.

4. Modernisation of Methodology: The Home Energy Model aims to create a more robust and accurate assessment methodology that reflects current political and technological conditions, moving away from the simpler, outdated methods of the past.

5. Flexibility and Specific Use Cases: The new methodology will allow for different standardised assumptions and the ability to update specific use cases independently, catering to various scenarios such as rental properties, sales, and new builds, enhancing clarity and accountability in energy assessments.

BEST MOMENTS

"Currently the methodology used is RDSAP 2012 version, I think we're on to version 9.94, which has been around for a long, long time."

"The Home Energy Model is a government calculation designed to assess the energy performance of houses across the United Kingdom."

"It's got big implications to the energy industry... the key aim of the project to modernise the relevant methodology in order to mirror the prevailing political and technological conditions in the UK."

"I'm a little bit sceptical on whether it's a complete overhaul, but, you know, these are my personal thoughts."

"EPCs are here to stay. They've all stated the fact that they're standing behind this. They want EPCs to stay."

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HOST BIO

Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations.

He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems.

Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business