Survey: Czechs keep saving, with 60% taking action in the past year

Czechs continue to save on energy consumption and other expenses. In the past year, 60 percent of Czech households took some measure, saving an average of around 8000 crowns a year. Half of households are planning further savings measures in the future. The main reason is the expectation that energy prices will rise again in the coming years. This is according to a survey by Ipsos, which presented the results to journalists today.

Spending on energy by Czech households has gradually stabilized, according to the survey, which was conducted in late March and early April among 1016 respondents. At the same time, the share of households that have had to significantly cut their family budgets because of energy prices has fallen in recent months.

According to Ipsos product director Michal Straka, households were mainly motivated to reduce energy consumption by uncertainty and rising energy prices. The most common measures were airing rooms briefly, showering instead of taking a bath, and lowering the temperature at home. Investment measures included replacing light bulbs or appliances, making building improvements, or switching to solid fuels for heating.

According to the survey, people expect the greatest savings from solar panels, with an average of around 7200 Kč a year. „According to our analysis, the actual savings from installing solar panels or a heat pump are even higher for most households,“ said ČEZ Prodej CEO Tomáš Kadlec. He said the most effective approach is to combine these technologies with home improvements, such as replacing windows and doors or at least partially insulating the house.

According to the survey, the biggest barrier to considering investments is securing the necessary funding. Most households are willing to invest relatively small amounts in some kind of measure. For around a third of households, this means up to 5000 crowns. By contrast, approximately 14 percent of households are considering a major investment of more than 50.000 Kč. Households are also gradually becoming less willing to use their own money for these measures, while interest in state subsidies is growing. While 11 percent of households said they wanted to apply for them last year, the figure is now 24 percent.

„Within the European Union, Czechia is among the countries with the highest household energy consumption, and we would like to change that together,“ said Petr Vladman, director of the State Environmental Fund.

Over the past ten years, the fund has supported investments in energy-saving technologies and building improvements worth more than 70 billion crowns, benefiting a total of 353.000 households, he said.