Research conducted on the viability of investment in energy efficiency equipment has prompted a launch of a finance scheme to boost green growth – particularly among SMEs.
Siemens claims that the scheme is vital for the economic recovery because it will unlock business investment in the low carbon economy. For small firms contemplating investment in microgeneration technologies such as on-site heat pumps, wind turbines and solar panels, such financial risks will be made less intimidating by the scheme.
Any sized company is eligible for the new green growth finance. The monthly payback money is to come from the savings made from the equipment. The Carbon Trust is a not-for-profit specialist body set up by the government several years ago in order to provide companies with knowledge regarding energy-saving equipment and measures. According to Siemens Financial Services – provider of financial backing and manager of funding – the trust will “provide a reliable and trusted assessment of the carbon, energy and cost savings of any application for finance.”
Myles McCarthy, general manager of Carbon Trust Implementation Services said: “Up to now, a missing ingredient has been access to affordable finance to enable business to make those green investments.”
“This new major finance facility – which matches monthly payments to real monthly energy cost savings – will improve business competitiveness, cut carbon and boost the green growth,” he explained.
James Gearey, CEO of Siemens Financial Services said: “Our extensive experience of asset financing and lending to UK businesses and the public sector, combined with our ready access to funding means we are well placed to support the scheme and deliver the associated benefits to its future customers.”
Look out for this month’s sustainability piece on energy efficiency measures in businesses.