To help our customers cover the cost of energy efficiency improvements, we offer a number of funding options.
Green Deal Finance
As part of our efforts to support energy saving measures, we’ve teamed up with leading Green Deal provider InstaGroup. This partnership allows us to provide our customers with access to Green Deal finance to help pay for home improvements with the money saved on household bills. For more information on Green Deal, take a look at our short video.
Energy Company Obligation (ECO)
The Energy Company Obligation (ECO) was introduced in 2013 to reduce the UK’s energy consumption and support people living in or at risk of fuel poverty. Our involvement with the ECO scheme enables us to provide our customers with funding to reduce the cost of energy efficiency installations, such as cavity wall insulation and boilers. One of our Green Deal Assessors will be able to inform you if you are eligible for ECO funding.
Feed-In Tariff (FIT)
The government’s Feed-in Tariff scheme allows homeowners who have installed renewable energy technology solar PV to get paid by their energy supplier. Every electricity unit that the system generates, and any surplus electricity exported back to the National Grid, can earn you payments.
Please note that every three months the tariffs reduce depending on the sign-off date of your installation and subject to Ofgem caps.
Duration: 20 years.
Feed-in Tariff calculations
Below are calculations for what a customer could expect to get from 1st April 2016.
- Property has a D rated or better EPC banding
- Oxford (location for these examples)
- Pitch of roof: 30 degrees
- South facing roof space
- 4kWh system installed
- £55 average monthly electricity bill for property
FIT from 1st April to 30th June 2016
These results assume that your FITs eligibility date falls within the period 1 April – 30 June 2016.
- Export tariff 4.91p/kWh
- Generation tariff 4.32p/kWh
Bear in mind that applying for FITs within this period doesn’t guarantee you the generation tariff originally assigned to this period nor guarantee eligibility for funding.
For more information, please read the calculator assumptions and visit our FIT changes page.
- £158 Annual payment from generation tariff @ 4.32 p/kWh
- £62 First year bill savings
- £90 Annual payment from export tariff @ 4.91p/kWh
- £310 Total payment and savings (1st year)
- £7,400 Estimated lifetime savings
Figures calculated using the Energy Saving Trust calculator correct as of May 2016
Green Deal Home Improvement Fund (GDHIF)
The government started the GDHIF offering householders a grant towards the cost of energy efficiency installations in 2014. In July 2015 the new government withdrew this fund from the market, at present there are no signs of a future offering for UK residents.