Their experience of working with thousands of companies across the UK indicates that year-on-year savings of 20% to 30% can be delivered through action on energy efficiency. To encourage smaller companies to take up the challenge, the Carbon Trust has launched a new fund providing vital capital for smaller businesses to replace old, power-guzzling equipment, together with expert advice to boost the efficiency and productivity of businesses in England, Scotland and Wales.

First come-first served

The £7m fund has been made available to SMEs on a first come-first served basis, and will offer energy saving training, cost saving assessments, implementation advice, and capital support for the installation of energy efficiency equipment.  Eligible companies can apply for a capital contribution to cover up to 15% of an energy efficiency project or equipment replacement cost, up to a maximum of £10,000.

The fund can also be used to purchase a range of equipment, including energy efficient lighting, Heating, Ventilation and Air Conditioning (HVAC) and energy efficiency controls – vital equipment across a range of business sectors, including manufacturing, retail, and hospitality.

Applications from 18 April 2016

The scheme is expected to support 1000 to 2000 smaller businesses across England, Scotland and Wales.  It is expected to enable participating businesses to invest £55m in energy saving projects which would deliver them lifetime energy savings of almost £130m.   The programme will focus on high quality implementation to ensure the best energy efficiency opportunities are fully realised.  The Green Business Fund will launch on Monday 18^th April 2016.  Click here for further information and to apply.

To accompany the announcement, new research of senior decision makers within SMEs[1] found that almost half (46%) are concerned about the amount they currently spend on energy.

– 37% of businesses nationwide would like to take more action to their improve energy efficiency.

– Lack of money to invest in new energy saving equipment and lack of affordable options to improve energy efficiency rank as the largest barriers for businesses to improve their energy efficiency (23% for each).

To date, the Carbon Trust has saved British business £5.5bn and 55Mt CO₂ through advice and financial support.

Click here for further information and to apply.