What does the Green Business Fund offer?
Subject to fulfilling the required criteria, the Green Business Fund can provide a financial contribution of up to 15% of the project cost, and up to a maximum of £5,000, for a business to replace their old lighting systems for energy efficient LED units.
- The minimum total size of the project must be £5,000;
- Available for a limited period on a first come, first served basis;
- A business can apply for multiple capital contributions, to the maximum of £5,000 in total;
- The capital contribution is a private contribution to provide an incentive for the purchase of energy efficient equipment and does not need to be paid back.
Who can apply?
Aimed primarily at small and medium-sized companies (SMEs) in England, Wales and Scotland. SMEs are defined as such if they meet two of the three following criteria:
- No more than 250 employees;
- Annual turnover not in excess of £25.9m; or
- Annual balance sheet not in excess of £12.9m
and if they are not more than 25% owned by an entity which does not meet the criteria.
Franchises are also eligible providing they have a different registered company number and are a separate legal entity to their managing partnership.
Charities, Schools, and Sole Traders who meet the scheme criteria are also eligible.
Public sector, domestic properties and new builds are not eligible for support from the Green Business Fund.
How does it work?
In order to apply for the capital contribution, the business would need to be replacing equipment currently owned with energy efficient equipment where the savings can be clearly defined.
- The Carbon Trust will look to fund projects where the payback period on energy savings is within 5 years.
- If the project provides energy savings that will pay back in over 5 years, then the Carbon Trust will fund the relevant contribution on the first five years’ worth of energy savings.
- Applications for the capital contribution must be approved by the Carbon Trust prior to purchase and installation of the equipment.
- The applying company will receive the capital contribution upon completion of the project and issuing of a commissioning certificate.
- The capital contribution is a private contribution to provide an incentive for the purchase of energy efficient equipment. It works in a separate way to the Carbon Trust loans, and therefore does not need to be paid back over time.
- The capital contribution cannot be used to part pay for work that has already been completed and installed prior to the application being made to the Carbon Trust Green Business Fund.
How Liht Can Help
By working with Liht and our partners you will receive assistance throughout the process… from selection of the most suitable LED products manufactured by companies on the Green Business Directory, assistance submitting a successful application, to supply and installation of a fully completed project.
Plus, not only can the latest LED lighting be installed, but so too can other energy saving technologies that will reduce heating costs and water use.
A fully completed project will ensure ultimate energy savings are realised quickly, so removing the difficulty of raising funds for projects that would otherwise be viewed as a long-term and costly outlay.
For further information and to hear how we can help call us on 01793 617376 or contact us: