About Nesta

Nesta is an innovation foundation. For us, innovation means turning bold ideas into reality and changing lives for the better. We use our expertise, skills and funding in areas where there are big challenges facing society.

Comprising around 1.4 million households, this segment tends to be older families (with 37% of heads of household aged 46-55) who own larger properties, with three or four bedrooms, valued well above the national average. This segment is prominent in Greater London, the Home Counties, and the east of England. Over half (52%) of this group are in the top 20% in terms of household income.

40% of this segment are currently saving for retirement, with 33% putting money aside for an emergency fund. As high internet users, this segment consumes their news online and gets it from newspapers, podcasts, and streamed content through Sky and BBC.

They are environmentally aware and don’t usually mind paying extra for green products. They have high levels of awareness when it comes to heat pumps, and 51% would consider a heat pump for their next heating system in the next five years. While one in four (27%) said a heat pump would be affordable, overall, this segment’s biggest barrier to getting one is its installation costs (29%), followed by a lack of conviction that the tech would be good enough to heat their home (13%). The biggest benefit of a heat pump for this group would be its environmentally-friendly credentials when compared to traditional heating systems (20%), followed by lower household bills (17%).

This segment has the fewest barriers to heat pump uptake. The majority own their own home. One in ten already have solar panels, and one in four are already using an induction hob instead of gas for cooking. The majority have outdoor space for a heat pump unit, and over a third say they have space for a hot water tank.

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