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Financing Options
Financing Options
Your Capital
Your Capital
If you have spare capital by using this you benefit immediately from 100% of your savings. But remember, you maybe eligible for a grant. Grants and loans for energy efficiency projects are available from a range
of sources - see below. Eligibility criteria and availability will vary, often being dependent upon the size of your organisation, the region you are in, the market sector you work in, or the product in question. Most funds are limited, so early application is recommended. Sometimes funds are topped up, or eligibility changes, so check frequently with the provider
Leasing and Islamic Finance
Leasing and Islamic Finance
Working with Macquaire Bank and others we are able to offer attractive leasing deals and in many instances the savings you make will outweigh the leasing costs.
Islamic finance loans of between £1k and £500k are also available from other sources for organisations wanting a halal loan. Whilst you do not need to be Muslim, your business is required to undertake Sharia compliant ventures. Qualifying for Islamic finance can be far easier than traditional business finance. The simple criteria for an interest free Islamic loan include:
Your business is registered in the UK / You have been actively trading for at least 6 months / Your business uses a card terminal to process customer card transactions / Your business does not fall under the following prohibited industries: gambling, drugs, weapons, chemical manufacture, pornography, banking and money transfer services
Salix Finance
Salix Finance
Salix provides interest-free Government funding to the public sector to improve energy efficiency, reduce carbon emissions and lower energy bills. Salix is funded by the Department for Business, Energy and Industrial Strategy, the Department for Education, the Welsh Government and the Scottish Government and was established to provide the public sector with loans for energy efficiency projects.
Renewable Power Purchase Agreements
Renewable Power Purchase Agreements
Power Purchase Agreements allow you to rapidly adopt solar PV on every suitable surface of your premises with no capital outlay. The size of your business need not be a barrier to this funding route as the PPA market is quickly evolving and reaching into the SME sector.
On-Site PPA
On-Site PPA
An on-site PPA facilitates you installing CAPEX free renewable infrastructure on your premises. Contact us for details.
Corporate PPA
Corporate PPA
A Corporate PPA manages the relationship between you as a renewable energy provider and a third party buyer of your excess energy generation. Contact us for details.
Synthetic PPA
Synthetic PPA
A Synthetic PPA is a hedge where you the generator and buyers of your capacity trade on the wholesale market either directly or via an intermediary. Contact us for details.
Grants
Grants
This list is not exhaustive and the grants available and terms of qualifying may vary from time to time. From time to time other more specific grants and loans may become available in support of certain regions, market sectors or products. For more information search via the website of the regional development organisation, your local authority, or the relevant trade association.
Energy Efficiency Grants
and Loans
Energy Efficiency Grants
and Loans
Grants and loans for energy efficiency projects are available from a range of sources. Eligibility criteria and availability will vary, often being dependent upon the size of your organisation, the region you are in, the market sector you work in, or the product in question. Most funds are limited, so early application is recommended. Sometimes funds are topped up, or eligibility changes, so check frequently with the provider.
The Industrial Energy Transformation Fund (IETF) will support the development of technologies that enable businesses with high energy use to transition to a low carbon future.
https://www.gov.uk/government/collections/industrial-energy-transformation-fund
The Industrial Energy Transformation Fund (IETF) is designed to help businesses with high energy use, such as energy intensive industries, to cut their energy bills and carbon emissions through investing in energy efficiency and low-carbon technologies.
Carbon Trust Loans
Carbon Trust Loans
Available to SMEs (except for project sites in Northern Ireland, which are open to any size enterprise).
• Borrow between £3,000 and £100,000 (unsecured) at 0% interest to invest in energy saving projects.
• No arrangement fees.
•Online application process and conditional offer normally received within 24 hours.
• Loan is repaid over a period of up to 4 years, with repayments offset by anticipated energy savings.
• Terms & Conditions apply.
• Full information / eligibility / availability from www.carbontrust.co.uk
Salix Finance
Salix Finance
• Available to NHS trusts, universities, local authorities, central government
and other public sector bodies.
• Provider of interest free funding to accelerate investment in energy
efficiency technologies across the UK public sector. Two main funds:
Recycling Fund and Loans Fund.
Recycling Fund
Recycling Fund
• A recycling fund, whereby a public sector body is given matched funding for a number of projects.
• Typical funding is £250,000 but could be as high as £500,000 with the client providing an equal amount.
• Energy savings can be recycled and used again and again for other projects.
• Money is returned to Salix only when no more suitable projects can be found.
• Projects must achieve payback within 5 years.
• Terms & Conditions apply.
• Full information / eligibility / availability from Salix Finance
Loans Fund
Loans Fund
• Salix Energy Efficiency Loans (SEELS) provide loans targeted at specific projects, which when completed repay their costs to Salix from the energy savings. Four schemes are available:
Central Government Scheme, England Scheme, Wales Scheme and Scotland Colleges Scheme.
Central Government Scheme
Central Government Scheme
• SEELS provided interest free conditional grants to pay for the installation of a wide range of energy efficiency measures across the central government estate – providing 100% support in making further progress towards reducing their energy bills and carbon emissions.
• Full information / eligibility / availability from Salix Finance
England Scheme
England Scheme
• Public sector organisations within England including schools, hospitals and local authorities.
• Full information / eligibility / availability from Salix Finance
Wales Scheme
Wales Scheme
• Public sector organisations within Wales including schools, hospitals and local authorities.
• Full information / eligibility / availability from Salix Finance
Scotland Colleges Scheme
Scotland Colleges Scheme
• Salix has agreed funding with the Scottish Government to support an energy saving revolving loans programme for Scotland’s colleges. Colleges can apply for loan funding from Salix for compliant energy saving capital projects. The funding has to be recycled and so will be run as interest free project loans that are repaid over 4 years in 6 monthly instalments.
Business Link
Business Link
Provide information on grants and loans across all business sectors. To find a business grant or loan, go to www.online.businesslink.gov.uk/
bdotg/action/gsdChoosePurpose
Business link also operate regionally, so to find the one that covers your area, go to the local business link contact directory at:
Energy Saving Trust
Energy Saving Trust
The Energy Saving Trust provides a range of resources to help businesses and public sector organisations to reduce carbon dioxide emissions. They also provide help with fleet transport. The Energy Saving Trust operates the low carbon research and development grant programme. More information from:
www.energysavingtrust.org.uk/business/Business/Information-centre/Search-for-available-funding
Lottery Funding
Lottery Funding
The lottery sometimes makes funds available for specific energy saving and renewable energy projects. Timing, funding and qualification varies, so check with the website: www.biglotteryfund.org.uk
Energy Efficient Venues
Energy Efficient Venues
• For Northern Ireland only. Energy Efficient Venues will pay for community organisations to carry out works to their venue to make them more energy-efficient.
• Grants of £2,000 to £10,000 and £15,000 to £50,000 are available. More information from
www.biglotteryfund.org.uk/prog_energy_efficient_venues.htm?regionalcode=-uk
Ground Source Heat Pumps
Ground Source Heat Pumps
The Non-Domestic Renewable Heat Incentive (RHI) aims to compensate the costs of ground source heat pumps installations in commercial applications. The business owners and social housing providers benefit from a quick payback and long-term rate of return. In addition, the UK Government financial support gives an opportunity for retrofit installations and new houses to get modernised.
Another grant is the Energy Company Obligation (ECO), which is relatively new and imposes legal obligations on energy suppliers to carry on energy efficiency measures. The main focus is on three different areas: Home Heating Cost Reduction Obligation, Community Obligation and Carbon Emissions Reduction Obligation.
Domestic Renewable Heat Incentive (RHI)
Domestic Renewable Heat Incentive (RHI)
Essential information for homeowners and private and social landlords thinking of applying to the scheme is available in this link