Spotlight on Snugg
Date: 08 May 2024
Author: Maximilian Jany
The problem Snugg aims to address
Decarbonising homes in the UK is a vital but complicated, often costly process, while 11 million homes in the UK need improvements in home energy. Of these, 70% of homeowners want or expect the government to finance it, which in unrealistic considering government financial availability and priorities.
However, banks in the UK have committed to reducing ‘financed emissions’ which includes homes as a usually financed (such as mortgaged) good, by 28Mt of CO2 by 2030. Of these, less than 10% of banks’ targets are underpinned by plans.
The Snugg solution
Snugg provides a platform that assists homeowners with identifying, funding and implementing the improvements their homes need, from the needed improvements, what financing solutions are available, finding local installers and monitoring savings post-improvements, including through an inbuilt carbon-credit tool, which helps
customers monetise carbon savings.
The Snugg solution is a B2B2C model, targeted at financial institutions, utility companies, home improvement businesses, the government and local authorities, but also private customers. The targeted clientele, especially banks and utility companies, cover the entire population, and therefore provide an efficient means of accessing customers at scale.
The Snugg challenge
The cost of decarbonising, or at least reducing carbon emissions, cannot be ignored, and initially observable benefits are not massive. Snugg focuses on simplifying the process and increasing the efficiency of decarbonisation by choosing better technology, more easily accessible and better value financing, assisting with the analysis of the effect on property value, and providing fuel savings, which have seen a strong rise in costs in recent times.
An average de-carbonised home can save up to 2 tons of carbon a year, this, coupled with the simplicity of the Snugg solution creates a monetisation market for carbon credits, and Snugg’s elegant and simple solution to the issues faced puts it forward as a key player in the sector.
You can find out more about Snugg and their solutions on their Website.
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