ECO3 – all you need to know19th October 2018
Just as we click the thermostat into gear and think about digging out our winter coats, the Government’s new ECO3 funding scheme is promising to make our homes warmer and more comfortable to live in. You can apply for this funding now through BillSaveUK.
ECO3 is short for Energy Company Obligation version 3 and it’s aimed at the people who need it most: single parents, jobseekers, those living with disabilities, their carers and anyone who’s struggling to pay their energy bills.
Through the Scheme, eligible households can reduce the amount of energy their homes need by having simple things like cavity wall or loft insulation professionally installed, or in some cases, having a more efficient heating system fitted.
The Government has designed its ECO programme to benefit only those who are really struggling to pay their energy bills – or who might be more vulnerable to the cold due to age or illness. This is welcome news for 6.5 million UK households and if you’d like to know more, take a look at our guide below:
Who will ECO3 help?
• Nearly 2 million more households than under previous ECO schemes will benefit. This is thanks to caps being removed on ‘equivalised’ income for families receiving Working Tax Credits, Child Tax Credits and Universal Credit – and because the Government has opened ECO3 up to more groups of vulnerable people
• Households who are classed as living in fuel poverty, are on a low income or are considered vulnerable to the cold*
• Households who are on disability benefits, MOD benefits and carers
• Households which have been identified by their Local Authority as being in need of home energy saving improvements, though a scheme called Flexible Eligibility
• Rural households – 15% of ECO3 funding has been reserved for those living remotely
• Landlords with properties rated EPC F or G will only be able to have high cost energy efficiency improvements installed under the scheme, such as external wall insulation or new boilers. If properties are rated E or above, they’ll be able to have almost any appropriate measures they like
What’s available through ECO3?
A full list of energy saving options will soon be available online, but things like cavity wall and loft insulation will be available for little or no cost – which could reduce household energy bills by up to £465 a year**.
How can I register my home for ECO3?
It’s really easy. Simply fill in your details on our online Eligibility Checker, or call us on 0800 368 9938. We’ll do the rest:
1. We’ll check a few details to see if you’re eligible
2. Then we’ll visit your property and carry out a short, free survey
3. We’ll explain what energy saving options would be suitable
4. If you agree to have the work done, we’ll arrange a date, convenient to you
5. Our professional installers will carry out the work
Then you can enjoy living in a warmer, more comfortable home, with lower energy bills.
*Eligibility will be determined when an initial enquiry is made to BillSaveUK, based on criteria issued by Government
**Energy Saving Trust – detached house in England or Wales, having full cavity wall and loft insulation installed