ENERGY EFFICIENCY FUNDING & FINANCE
There are often grants available to subsidise the installation of energy efficient measures including insulation and heating. Many of these are means tested, with the amount of funding varying over time and by measure.
We provide below a guide to the funding currently available to householders.
If you are a local authority or social landlord, contact us today for support in maximising funding for your projects or assistance in applying for national funding schemes; our bid team has secured over £30m in funding for our partners over the last five years and can manage the end to end application process for you.
The Energy Company Obligation (ECO) is a government energy efficiency scheme that aims to reduce carbon emissions and tackle fuel poverty.
The current phase of ECO – called ECO3 – will run from October 2018 to March 2022. Under the scheme, energy suppliers subsidise the installation of insulation and heating measures in domestic properties. Qualification for this funding is means tested; you will qualify if you own your home or rent from a private landlord, and a member of your household receives one of the following benefits:
Households receiving Child Benefit are also eligible if they do not exceed the following income thresholds:
|1 Adult 1 Child||1 Adult 2 Children||1 Adult 3 Children||1 Adult 4 Children +|
|2 Adults 1 Child||2 Adults 2 Children||2 Adult 3 Children||2 Adults 4 Children +|
If you don’t meet these criteria but a member of your household has a health condition that’s made worse by the cold (such as a cardiovascular, respiratory or mental health condition, or a disability), or your household is living in fuel poverty, you may still be able to access funding via your local authority under a rule called ‘Flexible Eligibility’.
Local authorities are able to certify that households that meet their criteria, as set out in their Statement of Intent on Flexible Eligibility, are eligible for ECO funding. However, not all local authorities have a statement of intent – check their website to find out their policy. Please also note that there is a limit to the number of households that local authorities can certify under the Flexible Eligibility rule, so we recommend you check as soon as possible.
Cornerstone is able to source ECO funding from energy suppliers to subsidise your energy efficiency measure – contact us today to check your eligibility and amount of funding available.
The ECO scheme is administered by Ofgem – you can find more information here: www.ofgem.gov.uk/environmental-programmes/eco
LOCAL AUTHORITY GRANTS
Local authorities are occasionally awarded funding from the government or third sector organisations to subsidise energy efficiency measures in their community.
In addition, some local authorities offer interest free finance for energy efficiency measures.
Check with your local authority to see if they offer any such funding or finance options.
If you are not eligible for any funding or grants, and your local authority does not offer interest free finance, private finance could be a good option. Most energy efficiency measures will save you money on your energy bills by increasing the thermal efficiency of your home, off-setting some or all of the interest you may pay on a loan.
You can use a loan repayment calculator to work out how much it would cost. You should seek your own independent advice before taking up a loan.