The ECO Fund is being launched alongside the Green Deal Scheme. The 6 large energy companies have an obligation in the following areas:-
Affordable Warmth Obligation
To provide heating, hot water saving measures, insulation, glazing and microgeneration technologies (except PV) to low-income and vulnerable households. Social housing tenants are not eligible for affordable warmth.
Carbon Saving Communities Obligation
Many People within the UK are living in “Fuel Poverty” so this element of ECO provides insulation and double glazing. Fuel poverty is defined as when people are spending more than 10% of their net monthly income on their energy bills. It is expected that this element of ECO will particularly benefit the social housing sector.
Carbon Saving Obligation
To provide funding to insulate solid-walled properties (internal and external wall insulation) and those with ‘hard-to-treat’ cavity walls. It is hoped that providing funding for the more expensive energy saving measures will help meet the Governments targets to reduce Carbon levels over the next decade.
The main energy suppliers are investing £1.3 billion a year into the fund. For further information about ECO, please contact us or call us on (01274) 534040