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What is the energy company obligation?
The Energy Company Obligation (ECO) scheme is a requirement that the Government has placed on energy suppliers to install energy efficiency and heating measures in people’s homes. Energy suppliers are obligated to deliver the scheme and they recover the costs of delivering the scheme through customers’ energy bills.
The new ECO4 scheme is the latest version of the government’s ongoing initiative to increase energy efficiency in lower-income households. The number of households in fuel poverty is rising and reducing heating costs is the most effective single measure to limiting this rise.
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The main elements of ECO4 are insulation, heating sources and renewables. Insulation reduces the amount of energy needed by improving heat retention, more efficient and cheaper methods of heating will lower bills and the use of renewables can ultimately cut expenditure significantly.
Insulation options include external, internal, hybrid and cavity wall measures as well as flat roof, loft, pitched roof and party wall insulation. There are also solid floor and underfloor solutions.
Heating technology offers several energy efficiency alternatives, such as the replacement of boilers with non-condensing boilers with condensing boilers, air source heat pumps, electric storage heaters, first time central heating and more effective heating controls
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The main focus of ECO4 renewables is photovoltaic solar panels which can provide energy to the household and deliver any excess to the national grid.
ECO4 is scheduled to run from July 2022 to March 2026 and eligibility extends across England, Scotland and Wales. Properties must have an EPC rating of C, so primary insulation measures must be implemented to raise anywhere ratings are below C. According to OFGEM 3.5 million homes will be eligible.
£1 billion has been made available and the target saving for consumers every year, as a result, is £224.3 million
Insulation Options
- External
- Internal
- Hybrid and Cavity Wall
- Flat Roof
- Loft
- Pitched Roof
- Party Wall Insulation
- Solid Floor
- Underfloor Solutions
