New Government Scheme – ECO+
The eco4 plus has one of the highest levels of poorly insulated homes in Europe and many people struggle to afford energy efficiency measures. However, thanks to a new government scheme called ECO+, the funding gap for insulation measures has been opened up. ECO+, also known as the Great British Insulation Scheme, is an extension of the current Energy Company Obligation (ECO) scheme and will see more homes able to access free loft or cavity wall insulation and boiler replacements.
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The ECO+ scheme is due to launch in autumn 2023 and will run for 3 years. It will extend the existing support offered to households by introducing new income criteria and by including homes in lower Council Tax bands in England, Scotland and Wales. Additionally, the new ECO+ scheme will include households that are deemed vulnerable to the impact of living in a cold home.
In order to qualify, homeowners and landlords must meet certain income criteria as well as property criteria. The exact criteria will differ depending on the measure being installed, but in general a household must have an income of less than PS30,000 per year and be living in fuel poverty. Households that are on a number of means-tested benefits, such as Universal Credit or Pension Credit, may also be eligible.
The main energy companies that service residential customers in the UK are required by law to abide by these schemes. This includes big energy suppliers like British Gas, Scottish Power and Shell Energy. They are required to provide a proportion of the funds that help householders make their properties more energy efficient, with no cost to the customer.