The global oil and energy price crisis that has impacted the UK is going to have a profound effect on homeowners and businesses for years to come. The price hike for energy is leaving many worried about how they’re going to cope with the increased cost going forward and what changes they can make to minimise their bills.
One avenue household and businesses will likely explore is switching to greener, more efficient, and renewable sources of energy, as there are substantial savings to be made on bills by doing so. This means that if you’re a business working in the renewable energy sector – including heat pumps, solar, ECO boilers and insulation.
What is ECO4?
The Energy Company Obligation (ECO) is a scheme introduced by the government that requires energy companies to help households who are likely to struggle with their energy bills. It is an initiative that obligates energy companies to lower carbon emissions and help the UK meet carbon reduction targets. Through the scheme, energy suppliers provide lifetime savings by installing energy-efficient measures in homes across England, Scotland, and Wales.
ECO4 is the fourth, latest, and potentially the last phase of the scheme, and is due to start on 1st April 2022 and run for 4 years until 31st March 2026. The government is currently finalising the details of the scheme as multiple changes are expected to be made, especially to the eligibility criteria. Individuals will need to meet the new qualifying criteria in order to access a government grant for the installation of renewable heating.
How can your business help homeowners with ECO4?
Energy grants through the ECO4 scheme cover a wide range of green home improvements with qualifying individuals potentially being able to get up to £10,000 towards home improvement eco measures. This means your business could have great success through leads that target those who are interested in renewable energy home improvements and are likely to qualify for a grant. The types of improvements homeowners could get through the ECO4 scheme include:
Heating and hot water prices are going to be one of the biggest price increases for bill payers from April. Heat pumps offer a cost-effective, efficient, and environmentally friendly alternative to traditional heating systems like gas boilers. Grants of up to £5,000 are open to households to help subsidise the transition to a greener source of energy, like a ground source or air source heat pump.
With old boilers operating at a much reduced efficiency level (sometimes as low as 65%) and new A-rated boilers with an efficiency level usually in excess of 90% will bring noticeable energy bills savings for households. This makes boilers still a viable alternative to households, who are perhaps unable to take advantage of heat pumps or solar.
Solar panels are a popular low-carbon renewable option that can help homeowners make substantial savings on their energy bills. Using solar panels for electricity can cut energy bills by up to 70%. The panels themselves only need light, not direct sunlight like is commonly assumed, so they will produce electricity on gloomy days. The electricity that is created can be used, stored in a battery, or transferred to the grid to receive money from the energy companies as part of the Smart Export Guarantee.
Free home insulation grants are available through the ECO4 scheme to install cavity wall, internal wall, loft, and room in roof insulation. All eligible homeowners who are under the household income threshold or claim a qualifying income-related benefit can apply for new insulation.
Which energy suppliers provide ECO4 grants?
Gas and electricity suppliers that have over 150,000 customers are obligated to provide funding for the ECO4 scheme. These companies include:
- British Gas
- EDF Energy
- Octopus Energy
- Outfox the Market
- Ovo Energy
- Scottish Power
- Shell Energy
- So Energy
- Utility Warehouse
How much of the ECO measure funding each supplier is obligated to provide is dependent on their market share. Energy companies have to deliver 15% of their ECO measures to properties in rural areas and 10% of them can be through fitting ‘innovative’ products, like devices that can help homeowners effectively manage their energy use.
Why is ECO4 so important?
The ECO scheme has been extremely beneficial to thousands of qualifying individuals across the country since it was first introduced in 2013. This 4th phase of the scheme is the most important yet in terms of helping as many people switch to greener and more affordable and energy efficient forms of energy as possible.
It is likely to be the lowest income households that will be worst affected by the energy crisis. This means that ECO4 grants are essential to helping those who qualify to get affordable heating and make long-term savings on their bills and protect them from the rising costs.
Poorly insulated homes with inefficient heating systems not only lead to unnecessarily high bills, but are also damaging to the environment. This is due to the increased level of carbon emissions and how long it takes an ineffective heating system to sufficiently warm your home.
At a time when global warming and climate changes are serious problems, helping homeowners get new more energy efficient forms of heating will help to lower the amount of carbon being emitted. Ultimately, this will aid in reducing the damage done to the planet and lower the carbon footprint of households across the UK, which will contribute to the government’s overall goal of reaching the zero carbon emissions target by 2050.
Who can qualify for an ECO4 grant?
To be successful in ECO4 lead generation, you need to know the key details, such as the qualifying criteria, in order to attract the right audience. Renewable energy grants are targeted mainly at households who may struggle with the cost of heating their home.
There are a few different ways in which a household could be eligible for a grant, including having an income of less than £31,000, receiving certain government benefits (mainly income-related), and having an Energy Performance Certificate (EPC) of between D and G for their home. The different criteria can get quite complicated and needs to be explained to potential ECO4 scheme customers effectively.
It would be beneficial to work with an agency like Pronto that has clear insight and experience in ECO4 lead generation, as this will ensure your message is effective in encouraging your target audience to see if they qualify for a grant and use you to get their new ECO measures installed.
How can we help you?
Homeowners want to save as much money as possible on their bills, now more than ever, which means now is the ideal time for businesses to focus on ECO4 lead generation. Our team has extensive knowledge and expertise in generating leads for a wide range of sectors, including renewable energy and other ECO measures.
The clients we are currently working with in this industry are seeing a great deal of success. This is as a result of a combination of maximising the increased demand for their services and the high quality of work done by our team to attract the right audience. Contact us today to get professional help and guidance with your ECO4 lead generation and take your business to the next level.