Funding for energy efficiency improvements

Financial Solutions for Care Home Energy Efficiency

 

There are different routes to finding financial assistance and funding for energy efficiency improvements to your care home. These range from interest free loans, to grants given by green funding initiatives or suppliers. There are also Government supported initiatives that can help you save money via tax relief or via your suppliers.

The main options discussed here are:

1. The European Regional Development Fund (ERDF)

2. Banks

3. Financial incentives

4. Grants

Bank loans

Several banks have dedicated loans for energy efficiency improvements that can cover the upfront costs of installation, and savings can often exceed repayments, creating a positive cash flow. Works can be funded by standard bank loans or through these dedicated green finance loans.

Banks offering green finance include:

• HSBC

• Barclays

• NatWest Group

Financial incentives

There are a number of other financial incentives such as tax relief, product discounts from suppliers, Government initiatives and energy supplier feed-in tariff or export tariffs.

The Government provides information about finance and support for your business, where you can search for the item you need support with and can select the type of financial support you require.

Tax incentive:

You may be able to claim for some of your upgrades via your capital allowances.

Grants and other loans

Some business and local enterprises provide grants to encourage and improve energy efficiency.

Zero Waste Scotland Limited

Zero Waste Scotland is an organisation funded by Scottish Government (via the ERDF) that offers SMEs in Scotland a loan to help install eligible measures and you will receive cashback on completion of your project. For loans in Scotland visit Zero Waste Scotland.

The Screwfix foundation

The Screwfix foundation is a registered charity to support projects that relate to the repair, maintenance, improvement or construction of homes, community buildings and other buildings to those in need. It offers funding of up to £5000 to registered Charities or not-for-profit organisations. Visit Screwfix foundation.