Carbon Trust launches £7m fund to reduce energy costs for small businesses

The Carbon Trust has launched a new fund to enable small businesses across England, Scotland and Wales to replace energy inefficient equipment.

The £7m fund is 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 per cent 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.

Research by the Carbon Trust of senior decision makers within SMEs found that almost half (46%) were concerned about the amount they currently spend on energy when asked in March this year.

The scheme is expected to support 1000 to 2000 smaller businesses.  It is expected to enable participating businesses to invest £55m in energy saving projects which would deliver them lifetime energy savings of almost £130m.

Hugh Jones, Managing Director, Advisory, at the Carbon Trust says: “Our 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.  We’d encourage smaller companies to apply to make the most of the fund on offer in order to realise significant savings on their bottom line.”

Click here for further information and to apply.

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