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.

This segment is made up of 3.5 million households who are younger (with 41% of the heads of household in this group aged 36-45), affluent families. They tend to live in modern detached houses with 3-4 bedrooms, which they typically own, with substantial mortgages. This segment is prominent in London commuter belt towns in the South East.

37% of this segment are saving for holidays or travel, with the same number putting money aside for an emergency fund. These families are frequently online. They are subscribed to a variety of music and TV streaming services and access newspaper/magazine content online.

They are relatively eco-friendly and early adopters of green technology, and have the financial means to purchase. They often have electric vehicles and are willing to engage in environmentally friendly behaviours, such as buying reusable products and consuming locally – as long as it doesn't impact their busy lives. 52% of this group would consider a heat pump for their next heating system in the next five years. However, installation costs would be the biggest barrier to getting a heat pump (32%) for this group, and lower energy bills would be the biggest motivator to get a heat pump (23%).

This segment has relatively fewer 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 a third say they have space for a hot water tank.

Next: Budget-conscious millennial parents

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