There are a number of grants and funding schemes that are available to help with the costs of having energy saving improvements installed in your home or business…
The Energy Company Obligation (ECO) was introduced in January 2013 to reduce the UK’s energy consumption and support people living in or at risk of fuel poverty. It does this by funding energy efficiency improvements for households and is worth around £1.3 billion every year.
It has now taken the place of previous funding schemes: the Carbon Emissions Reduction Target (CERT), and the Community Energy Saving Programme (CESP). These previous schemes ended in December 2012 and the ECO took over in addressing energy efficiency in the domestic sector. ECO is expected to run until March 2017.
ECO funding particularly supports those householders (e.g. the poorest and most vulnerable) and those types of property (e.g. hard to treat) which cannot achieve financial savings without an additional or different measure of support. It works alongside the Green Deal to give consumers support and funding for energy efficiency improvements in their homes.
In essence the Energy Company Obligation (ECO) is split into three parts:
The HHCRO or ‘Affordable Warmth’ Obligation aims to provide heating and hot water saving measures, insulation and microgeneration technologies (EXCLUDING Solar PV) to low income and vulnerable households.
The Carbon Emissions Reduction Obligation provides funding to insulate homes with both cavity wall and loft insulation. The aim is to reduce heat loss, home heating bills and therefore carbon emission.
This provides insulation measures to households in specified areas of low income. It also makes sure that 25% of each energy supplier’s obligation is used to upgrade more hard-to-reach low income households in rural areas.
At BillSaveUK our trained assessors and advisers can help you to understand what grants and funding options are available to you depending on your needs and circumstances.