Funding Schemes
Energy Company Obligation (ECO4)
ECO4 marks the concluding phase of the government’s energy obligation, commencing from July 1, 2022, until March 31, 2026. It is expected to cost suppliers £4billion over this four-year period and provide energy efficiency measures to 450,000 homes on the lowest incomes living in properties in EPC D to G (or D to E for social housing and private rented accommodation).
The Energy Company Obligation Phase 4 (ECO4) is a government-led energy efficiency scheme in Great Britain, designed to address fuel poverty, improve energy efficiency, and reduce carbon emissions in domestic properties.
Zero Carbon Group commits to active involvement in this scheme, prioritising the installation of numerous heating, insulation, and renewable energy measures.It is the latest phase of the Energy Company Obligation (ECO) scheme, which places obligations on energy suppliers to deliver energy efficiency measures to eligible households.
Objective
The primary objective of ECO4 is to continue tackling fuel poverty and improving energy efficiency in homes across Great Britain. By providing funding and support for energy efficiency measures, the scheme aims to help vulnerable households reduce their energy bills, increase comfort levels, and lower carbon emissions.
Scope and Eligibility
ECO4 targets domestic properties in Great Britain, including owner-occupied homes, rental properties, and social housing. Eligibility criteria typically focus on vulnerable households, such as those in receipt of certain benefits or living in properties with low energy efficiency ratings. The scheme prioritises households most in need of support to improve their living conditions and reduce energy costs.
Focus Areas and Measures
ECO4 supports a range of energy efficiency measures aimed at improving the thermal performance of homes and reducing energy consumption. These measures may include insulation improvements, heating system upgrades, and renewable energy installations. The scheme emphasises a whole-house approach, addressing multiple aspects of a property’s energy performance to achieve maximum efficiency gains.
Funding and Support
ECO4 provides funding and support for eligible households to undertake energy efficiency measures. This may include grants, subsidies, or other financial incentives to offset the costs of installations. Energy suppliers play a key role in delivering the scheme, working with eligible households to identify suitable measures and arrange installations.
Implementation and Delivery
The implementation and delivery of ECO4 measures are carried out by energy suppliers and accredited installers. They are responsible for ensuring that installations meet relevant standards and regulations, as well as providing guidance and support to households throughout the process. The scheme aims to make energy efficiency improvements as accessible and straightforward as possible for eligible households.
Benefits
Participation in ECO4 offers numerous benefits for eligible households, including reduced energy bills, improved comfort levels, and lower carbon emissions. By investing in energy efficiency measures, households can enjoy warmer, healthier homes while also contributing to national efforts to combat climate change and achieve sustainability goals.
Conclusion
In summary, ECO4 is a significant initiative aimed at improving energy efficiency and reducing fuel poverty in domestic properties across Great Britain. By providing funding and support for energy efficiency measures, the scheme helps vulnerable households access vital improvements to their homes, resulting in lower energy bills, increased comfort, and reduced environmental impact.