The government work in tandem with OFGEM and energy companies to operate the ECO4 scheme that supports low-income households with the transition towards renewable energy and insulation. There have been various schemes over the last 15 years that include the Green Deal, Green Homes Grant, ECO3 and ECO4. Homeowners and tenants may be able to access grant funding to help improve insulation levels, heating infrastructure and even Solar PV generation. The scheme is means tested to support low-income households and homes whose EPC levels are classified as a D or lower.
The Boiler Upgrade Scheme (BUS) is another Government-led initiative to encourage homeowners to migrate from fossil fuel heating systems to renewable technologies such as Heat Pumps or Biomass. The grant has recently been upgraded to a £7,500 Government contribution, meaning that homeowners can access sizeable support to switch from fossil fuel heating systems. To qualify for the BUS Grant, you should own the property and be switching from fossil fuels. There is no other means testing and you don’t have to be a low-income household to qualify.
Although the Government have recently relaxed regulations such as the transition towards electric vehicles, expect to see further Government-backed initiatives for “green” upgrades as the 2050 net zero target inches ever closer. With UK homes known to be some of the least insulated and leaky in Europe, we’d be very surprised if further incentives weren’t launched for insulation upgrades. Whilst the new Great British Insulation Scheme has just been launched, many of the current initiatives are only suitable for low-income households or homes that have a low EPC-rating. There still needs to be more incentives for middle earners to invest in energy efficient measures in their homes, particularly as we’ve reached the peak of the energy crisis and prices are beginning to stabilise once more.