Can I get ECO funding to help with my energy bills?
As a result of the ongoing fuel poverty crisis in the UK, more households are coming to terms with increased fuel costs, resulting in higher heating bills. This also means that measures to make energy use smarter, keep people’s energy bills lower and improve the energy efficiency of homes has never been more necessary and more popular.
Trying new energy-saving measures through upgrades to technology and additional layers of insulation not only assist in lowering your energy bills, they also protect the longevity of your home for your family to enjoy for many years to come. On a wider scale, it also helps to reduce the number of emissions in your community, making for a safer, cleaner environment with a reduced impact on climate change.
Homeowners who are looking to increase the efficiency of their residence and reduce the cost of heating can apply for support through an ECO4 grant and ECO+ funding. ECO+ is now live under the name “Great British Insulation Scheme”.
Residential Energy Services experts have written this short guide to help you understand what these ECO schemes are and how they can help you.
We are always on hand to assist you in improving your home’s energy efficiency, so feel free to talk to us any time after reading this article.
What is the Energy Company Obligation?
Around half a million homes in the UK will see eligible customers receive assistance from the Energy Company Obligation (ECO) in order to have energy-saving measures installed.
The objective of ECO is to cut down on carbon emissions as well as the demand for energy among homeowners in the UK. As a consequence of this, it aims to fight fuel poverty, lower energy bills for homeowners and lower the cost of living as a whole.
What is the ECO4 scheme?
The Energy Company Obligation (ECO) scheme is now in its 4th stage (ECO4.) The main goal of ECO4 is to improve the lives of low-income and vulnerable people that are in the least energy-efficient homes.
ECO4 is an energy efficiency scheme that is being run by the government, encouraging energy providers to make residential properties more energy efficient through the installation of various measures. The implementation of ECO4 measures began in April 2022 and will continue right up until the end of March 2026, so there’s still plenty of time to take advantage.
ECO4’s main goal is to help low-income homeowners make their homes more energy efficient. People who receive certain government-supported benefits can ask for help from their energy providers to fix up their whole house.
What energy-efficient improvements can I get with ECO4?
The following are examples of potential ECO4 energy-saving measures (however the list is not exhaustive.)
ECO4 is a whole-house retrofitting plan that will most likely include a mix of the above steps.
Who pays for the ECO4 scheme?
Through the current ECO scheme, energy suppliers pay for improvements such as the ones above. It is up to the energy company or their nominated installer to calculate what changes will benefit you most and how much of their ECO4 funding to put towards your home’s energy efficiency.
What are the long-term benefits of ECO funding?
If you are eligible for energy efficiency improvements, the grants can be very generous and the energy efficiency measures provided by ECO4 funding will come into effect immediately.
Your house will be more comfortable, and easier to heat and this will positively affect your ongoing heating costs. However, there’s much more to it:
→ It will increase your property’s value
→ Reduces energy consumption and will cut carbon emissions
→ Energy-saving improvements will help protect your environment
What types of insulation will be funded by ECO+/ The Great British Insulation Scheme?
The Great British Insulation Scheme is focused solely on insulation measures such as:
Solid wall insulation (internal/external)
Roof insulation
Under-floor insulation
Solid floor insulation
Room-in-roof insulation
How much money could I save with ECO+/ Great British Insulation Scheme Fund?
It is expected that under ECO+/ GBIS fund measures, you could save around £310 a year on heating bills. This scheme is set up to get as much insulation installed into vulnerable homes as possible, so that economic improvements can be felt immediately.
Do landlords benefit from ECO+/ Great British Insulation Fund?
Landlords can also take advantage and save money on heating their properties with The Great British Insulation Scheme. If you are a landlord and your tenants meet the criteria, talk to us about finding ways to secure funding from your energy supplier.
ECO4 Flex
Residents who do not get any of ECO4’s qualifying benefits but who still live in low-income households and experience fuel poverty may be eligible to apply for money under the ECO Flex grant programme. Talk to us if you meet these conditions and we can guide you as to whether ECO Flex is available in your area.
Will the Great British Insulation Scheme help me?
Here is a quick helpful process to assist you in finding out if you can get financial support.
How do I apply for ECO4 or ECO+/GBIS?
If you appear to be eligible for any of the government-supported energy efficiency funding schemes mentioned in this article, or if you are still not sure, visit our eligibility checker. Complete the 2-minute form and a representative of Residential Energy Service will be able to assist you.