Under this scheme, the six largest energy companies must aid the installation of energy efficiency measures. Boilers between 5-8 years typically waste energy and require more fuel to generate heat and hot water. By replacing an old boiler, you could save up to £400 annually on your bills.
The latest version of the policy, ECO3, which began on 3 December 2018, has one very prominent responsibility called the Home Heating Cost Reduction Obligation (HHCRO), which requires the energy suppliers to encourage the installation of cost-reducing measures such as insulation and a boiler upgrade or installation for free or at a discounted rate.
ECO3 requires suppliers to provide any or all of the following to those who qualify:
The government aims to support 35,000 households with broken heating systems per year. Since the initial launch of ECO in 2013, carbon emissions have been reduced in over 850,000 households and the government is striving to bring this to a total of one million households before March 2022, when ECO3 ends. 15% of these homes must be situated in rural areas.
One of the regulations of ECO3 is that coal boilers are no longer fitted due to coal being the most polluting fossil fuel. By making this change and installing more insulation, the government hopes to save 1.8 million tonnes of CO2e (carbon dioxide equivalent) by 2022.
Unfortunately, under the new scheme rules, private tenants do not qualify for the grant funding. If you require a new boiler for a tenanted property, we’d recommend visiting iHeat.co.uk for a fixed quote and 0% finance available for 2 years.