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A new £51.5 million interest-free loan scheme available to almost every type of English public sector organisation has just been announced.
The scheme is managed on behalf of the government by Salix Finance and the Carbon Trust. Those wishing to take advantage of its funding need to apply as early as possible as the scheme is ‘first come first served’ and is expected to be substantially over-subscribed.
This email provides a brief summary of key features of the funding scheme, plus details on ‘Save It Easy’ - a retrofit energy efficient lighting technology that has provided significant carbon reductions and rapid payback periods for public sector organisations in previous Salix funding programmes.
Commenting on this new loan as an opportunity for lighting energy saving Aidan Salter, MD of ‘Save it Easy’ suppliers Energys Ltd, stated:
“in energy saving performance and cost per tonne of carbon saved our retrofit units fully meet the selection criteria of the new loan scheme. We can also offer support and assistance with the loan application process, backed by a free savings calculation service which greatly aids assessment and acceptance of projects proposed”
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Department for Energy and Climate Change Announcement:
Extra support to cut public sector carbon footprint
Hospitals, leisure centres, local authorities - and even central government departments - will be able to save money and reduce their carbon emissions by taking up new energy efficiency loans. The Government, in partnership with Salix Finance and the Carbon Trust will provide £51.5 million in interest free loans to help public sector organisations take advantage of energy efficiency technology.
Minister for Energy and Climate Change, Joan Ruddock said:
"We estimate this fund could help public sector bodies save around £14 million per year in fuel bills. Following the announcement of our ambitious carbon budgets, all public sector organisations should lead by example by pioneering ways to reduce carbon emissions. I hope that schools, hospitals, and fire stations will look into projects they can undertake, and use this funding opportunity... "
Click here to read the full announcement
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The Basic Facts:
‘First come’ offer. Closing date end December 2009 or when funds run out.
£51.5M total fund value. Likely to be oversubscribed.
Available to most public bodies, except NHS Trusts.
Value of application must be over £5,000. No upper limit.
Small applications for those currently covered by Salix schemes probably rejected.
Click here to read the Energys Guide to the Salix Funding.
The Money Aspects:
A 100% loan. No matching funding required.
Repayable from beginning of March 2011 over 4 years in 8 equal instalments.
Loan is issued after application work is completely finished.
For retrofit lighting upgrade see ‘cashflow outline’ below.
Click here to browse the Energys Website.
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Click here to view the Save it Easy brochure and discover how you could save between 37-56% on your lighting energy bills.
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The Loan Criteria:
Maximum 5 year payback period.
£100/tCO2 lifetime carbon cost basis.
Payback of projects implemented must be shorter than the expected life of the building, or the technology must be transferable.
If the expected lifetime of the building is shorter than the expected lifetime of the technology, then the compliancy calculation will be based on the shorter of the two.
Domestic, residential and transport projects are not covered.
Click here to read more.
Cashflow Outline:
For retrofit lighting upgrade the cashflow outline remains positive throughout. Such are the reduced energy consumption levels and short payback periods offered by Save It Easy* units that, apart from a couple of weeks, savings will not only more than pay off the loan but - for those first in line and who get the work done quickly – will give payback up to 9 months before first repayment is required.
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