ECO Government Scheme 2018 will be starting soon, and based on the current outline of the proposals, property owners and private tenants who were denied grants before, could be eligible for the upcoming ECO 3 grants.
ECO launched its first phase in April 2013. So far the scheme has been responsible for funding the installation of 2.34 million energy efficiency measures in 1.83 million properties.
ECO3: More Funding Available per Property
The original run date of ECO2 was from April 2015 to March 2017. But the Department for Business, Energy and Industrial Strategy extended it under the name of ECO2t. The number of energy efficiency measures installed during ECO2t were about 50% lower than those installed under ECO2.
But despite the decreasing number of measures installed, ECO3 will retain 75% of ECO2’s yearly budget, at a projected cost of £640 million per year. This means that ECO3 will have substantially increased fund availability per property.
ECO Government Scheme 2018: Areas of Priority
ECO has funded the installation of energy efficiency measures in 7% of all households in the UK. 13% of these measures were installed in rural areas. The areas with the most grant approvals in previous ECO phases were the North West and North East, while Scotland and Wales take the 3rd and 4th spot.
ECO currently supports companies with high delivery rates in the North West, West Midlands, Yorkshire, the Humber, and Scotland. The government is currently developing a mapping tool that operates at a postcode level to further enhance its ability to target those requiring energy efficiency grants the most.
The tool will use DWP benefits data and housing characteristics data to identify postcodes that match ECO’s Affordable Warmth criteria.
ECO Funding 2018: Eligibility Criteria Expansion
ECO 3 will also be expanding its eligibility criteria for its Affordable Warmth Scheme. The detailed report for the new inclusions to the eligible benefits can be seen here.
Even ineligible properties can take advantage of the new grants thanks to ECO 3’s Flexibility Eligibility: In-fill Mechanism that you can read about here.
If the complexity of the new regulations are confusing you, you can rely on us to make things easier. Contact one of our energy advisors today for your free consultation: 0203 638 4030.