Green Business Fund: Energy efficiency makes good business sense

Energy efficiency makes good business sense
Energy efficiency isn’t a lot of fun. Most people find it hard to get excited about installing LED lighting, or fitting variable speed drives onto electric motors.

We know it is hard for businesses to push it up the to do list when there are dozens of competing priorities: sales to make, customers to meet, and suppliers to chase. It is especially difficult for small and medium-sized companies, where very often no single individual has specific responsibility for energy management.

But energy efficiency does make good business sense. In fact, it is very often one of the most cost-effective investments a company can make into reducing unnecessary overheads. In a survey conducted by the Carbon Trust, we found that almost half the SMEs in England, Scotland and Wales are concerned by the amount they spend on their energy bills. We also found that 45 per cent want to do more to improve the energy efficiency of their business.

But despite recognising the issue and wanting to change, most are not taking enough action. The Carbon Trust’s 15 years of experience working with SMEs shows that many businesses can cut 20-30 per cent off their energy bills through cost effective measures with attractive payback periods.

So why isn’t everyone doing it?

Our recent research showed that for SMEs the biggest barriers to making improvements is a lack of money to invest in new energy saving equipment. Other significant barriers include a lack of reliable external advice and support, as well as a lack of trusted and reliable suppliers.

To help overcome some of these issues the Carbon Trust launched the Green Business Fund in April 2016. This new scheme provides SMEs across England, Scotland and Wales with support to identify energy saving opportunities and install energy efficient equipment, through the following funded streams:

A financial contribution towards your energy saving equipment:

The Carbon Trust Green Business Fund is offering up to 30 per cent of the project cost – up to £10,000 – to small and medium-sized businesses for projects that comply with the requirements of the fund

Energy opportunity assessment: 

The Carbon Trust are offering funded energy saving opportunity assessments to SMEs to help them identify energy savings and equipment you could install to achieve these savings

Implementation support:

We will help you to find equipment suppliers who can provide detailed quotes and who have a track record of delivering energy saving projects

Expert workshops:

A series of training workshops are scheduled to help you work out how best to identify and implement the energy saving opportunities available to your business. Click here to find your nearest workshop.

The capital contribution from the Green Business Fund is currently available for projects that payback in no more than five years. Eligible companies can apply for a capital contribution of up to £10,000* to cover an energy upgrade project. Companies are able to source their energy efficient equipment through the Carbon Trust’s Green Business Directory which provides companies with a list of high quality accredited suppliers.

Case study: Blackout Ltd.

Event drapes and rigging company Blackout Ltd received over £6,000 through the Green Business Fund to part fund a warehouse LED lighting installation, which will help them save £9,000 a year.

“With support from the Green Business Fund we were able to upgrade from a rudimentary replacement programme to a state of the art PIR controlled LED lighting installation. The application process is simple, quick and very easy to navigate,” said Martin Wood, Blackout Ltd.

Read the full case study here>>

We know that businesses in the UK are keen to learn more about energy efficiency – but every day that companies procrastinate and delay taking action, they will be racking up energy costs. Energy efficiency may not be a lot of fun, but nor is paying bills.

Apply now – this support is available for a limited period on a first come, first served basis, aimed at small and medium-sized businesses in England, Scotland and Wales.

Find out more and make an application

To discuss how your business could benefit from the support on offer, or if you have any questions about the Green Business Fund please visit www.carbontrust.com/greenbusinessfund, email us at greenbusiness@carbontrust.com or call us on 020 7832 4773 to speak to one of our advisors.

*Terms and Conditions do apply.

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