The Carbon Trust is launching “The Big Business Refit”, a £100m programme that will offer SMEs interest-free loans to replace old inefficient equipment with new energy efficient models. Examples of technologies that may qualify for the programme include refrigeration technologies such as ammonia refrigeration.
Following a recession-driven surge in demand for its interest-free business loans in the UK, the UK Carbon Trust is launching this month “The Big Business Refit”, a new programme that will offer SMEs expert advice and financial support to slash their energy costs by replacing old inefficient equipment with new energy efficient models. It is estimated that the total of £100m available in unsecured, interest-free loans, will help up to 3,000 UK SMEs save a total of £40m off their annual energy costs. Typical examples of technologies that may qualify for receiving loans include heating and cooling technologies.
The loans are designed to pay for themselves through direct energy savings, so that once the loan is repaid, savings go straight to bottom line. “With credit all but dried up elsewhere, the Big Business Refit breaks the deadlock by helping SMEs to buy the equipment that will both slash their costs and often transform their businesses”, said Tom Delay, chief executive, the Carbon Trust.
Types of projects qualifying
The Carbon Trust’s unsecured, interest-free loans can be used for equipment replacements costing between £3,000 and £400,000. The Carbon Trust considers any project that can demonstrate energy saving in excess of the CO2 threshold of 1.50 tCO2/£1000 of loan (minimum loan value £3,000), while SMEs can also benefit from free energy saving assessments from a Carbon Trust expert and a tailored action plan that identifies the savings that could be made by replacing energy-guzzling equipment. Typical examples of technologies that may qualify for the interest-free loans include:
About the Energy Efficiency Loan Scheme & the Carbon Trust
Many small and medium sized enterprises wish to invest in energy efficient equipment, but find that they cannot due to lack of available capital funds. The loan scheme, funded by Government, exists to remove this financial barrier and help enterprises to purchase energy efficient equipment.
The Carbon Trust is an independent company set up in 2001 by Government in response to the threat of climate change, to accelerate the move to a low carbon economy by working with organisations to reduce carbon emissions and develop commercial low carbon technologies.
The loans are designed to pay for themselves through direct energy savings, so that once the loan is repaid, savings go straight to bottom line. “With credit all but dried up elsewhere, the Big Business Refit breaks the deadlock by helping SMEs to buy the equipment that will both slash their costs and often transform their businesses”, said Tom Delay, chief executive, the Carbon Trust.
Types of projects qualifying
The Carbon Trust’s unsecured, interest-free loans can be used for equipment replacements costing between £3,000 and £400,000. The Carbon Trust considers any project that can demonstrate energy saving in excess of the CO2 threshold of 1.50 tCO2/£1000 of loan (minimum loan value £3,000), while SMEs can also benefit from free energy saving assessments from a Carbon Trust expert and a tailored action plan that identifies the savings that could be made by replacing energy-guzzling equipment. Typical examples of technologies that may qualify for the interest-free loans include:
- Building Technologies: Air conditioning, Boilers and heating controls, Boiler and hot water tank information, Heat recovery
- Industrial Process Technologies: Process heating, Refrigeration
About the Energy Efficiency Loan Scheme & the Carbon Trust
Many small and medium sized enterprises wish to invest in energy efficient equipment, but find that they cannot due to lack of available capital funds. The loan scheme, funded by Government, exists to remove this financial barrier and help enterprises to purchase energy efficient equipment.
The Carbon Trust is an independent company set up in 2001 by Government in response to the threat of climate change, to accelerate the move to a low carbon economy by working with organisations to reduce carbon emissions and develop commercial low carbon technologies.
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Sep 01, 2009, 13:15
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