A £10m Energy Loans initiative has been launched for England and Wales as part of Action Energy, the government-backed project that helps businesses and organisations cut their energy costs.
The move follows the introduction of the Climate Change Levy in April 2001 and a recent government report suggesting that up to 30% of energy – the equivalent of £12bn a year – is wasted.
Action Energy helps by providing free professional advice and assistance to companies both large and small. Experience has already shown that business energy bills can be slashed by up to 20% through techniques that often involve little or no expenditure.
Now small and medium-sized companies that need capital investment to become more energy efficient can benefit from the Energy Loans, available in amounts between £5,000 and £50,000 repayable over four years.
Similar schemes already operate in Scotland and Northern Ireland.
A further financial incentive available to businesses is the government’s Enhanced Capital Allowances (ECA) which encourage investment in energy-saving equipment.
The Carbon Trust, which introduced Action Energy, is now managing the ECA scheme. Businesses can claim 100% first year capital allowances on investments and write off the cost of their investment against taxable profits for the period during which they make the investment.
To take advantage of the advice and services available through Action Energy call 0800 585794 or visit www.actionenergy.org.uk.
