Over the coming months and years, there will be lots in the news, through your letterboxes and online about ECO4 (Energy Company Obligation fourth phase).
ECO4 is the new UK government initiative, that aims to improve the energy efficiency of homes for the most vulnerable. But what is it? Read on to find out more!
What is it?
The ECO4 funding is an energy efficiency scheme aiming to reduce carbon emissions and tackle fuel poverty. Energy suppliers are now obligated to provide funding for insulation and heating measures for homes that are considered to be in fuel poverty. Furthermore, people who have a low income and high energy usage are also eligible.
Who pays for the funding?
Energy suppliers are required to deliver energy efficiency measures through the ECO4 scheme. This includes things like insulation, first time central heating, and renewable energy solutions to households that meet the criteria. The costs of these measures are recovered by energy suppliers through a surcharge on customers’ energy bills and the scheme operates on a quota system.
This means energy suppliers are given targets to meet, and they must deliver a certain number of energy efficiency measures per year. The government periodically reviews the scheme to assess its effectiveness and adjust the targets if necessary.
Overall, the ECO4 scheme has been created to help:
- reduce energy costs for low-income households
- improve the energy efficiency of homes
- reduce carbon emissions.
How do I qualify?
To qualify you need to be living in a property with an EPC of an E or lower. This is because the funding is focused on homes that need the most improvements. You do not need to own the home, but would need consent from your landlord to carry out the work.
Secondly, you must either have a household income of under £31,000, or receive some form of government benefit, such as those below:
- Pension Credit
- Universal Credit
- Child Tax Credit
- Housing Benefit
- Income Support
- Working Tax Credit
- Income based ESA
- Jobseekers Allowance
What Improvements are available?
The ECO4 scheme is focused on a “whole house approach” which means most customers would qualify for more than one measure. The focus is on moving away from gas heating, so boilers will not be available on the scheme – unless you do not already have a home central heating system.
Instead, a surveyor looks at all the features of your house and can help you access several of the below measures to make the largest energy savings. In certain properties it is possible to receive 4 or even 5 of these measures at the same time, with no customer contribution.
- Loft Insulation
- Floor Insulation
- Room in Roof Insulation
- Internal Wall Insulation
- External Wall Insulation
- First Time Central Heating
- Air Source Heat Pumps
- Solar Panels
The funding towards these measures will improve your homes’ energy efficiency, protecting you against rising energy costs. In addition, these measures will work to eliminate issues like condensation, damp, and mould. Our team of expert surveyors can advise you on the best measures to reduce your bills, cut your carbon footprint, and improve your home.
What if I want to apply?
If you’d like to apply, visit the ECO4 funding page on our website for a free, no obligation survey!