The rising cost of energy bills is a hot topic at the moment, and an area of great concern for many. Help is available though.
Background to ECO and the drive towards net zero
Since 2010 the UK Government has been running initiatives aimed at improving the energy performance rating of properties, particularly those which are most vulnerable or hard-to-treat. This approach ticks two important boxes – improving the heating systems of homes, many of who wouldn’t be able to directly afford to have measures installed, and also helping reduce the UK’s carbon footprint.
The Energy Company Obligation (ECO) scheme was introduced as part of this drive by the government, however, it is funded by energy suppliers with the aim of increasing energy efficiency and decreasing household energy bills in the UK. The big energy suppliers are tasked by the UK Government with implementing measures worth around £1.3 billion every year.
Funding is still available
Government-backed and privately-funded initiatives are still available, which could mean you could upgrade the energy performance rating (EPC) of your home and reduce energy bills, all completely free of charge. Potential free upgrades include first time boiler installations, wall, underfloor and loft insulation measures, and even the supply of newer technologies such as heat pumps and solar and battery storage systems.
The current version of ECO, ECO3 expires in March 2022 but will be superseded by ECO4. The final details of ECO4 haven’t been released yet, but it is expected to more directly target the upgrading of EPC ratings as opposed to installing specific measures. ECO4 is expected to run from 2022 to 2026. There are also local authority and private options.
Easy Process
The process for determining if a property would qualify is straightforward and involves checking what standard of heating system already exists at a property, and what improvements can be offered using available grants. The eligibility of the person living in the property also needs to be determined, as these grants are often targeted towards people living in fuel poverty and on lower incomes.
For free and no obligation advice, please contact Green Energy Advisory.
