The Carbon Trust ‘Green Business Fund’
Is your energy efficiency project eligible for a non-repayable grant of £750 to £10,000?
If you’ve got a project that can reduce the energy that your company uses then it may be eligible for a contribution of £750 to £10,000 towards the capital costs and it doesn’t have to be repaid.
We’ve summarized the requirements below:
Who can apply?
To be eligible your business must meet at least two of the following conditions;
- No more than 250 employees;
- Annual turnover not in excess of £25.9m; or
- Annual balance sheet not in excess of £12.9m
In addition, not more than 25% of the business must be owned by an entity that does not meet these criteria. Franchises are also eligible providing they have a different registered company number and are a separate legal entity to their managing partnership.
How much money can I get?
The fund will provide a minimum of £750 and a maximum of £10,000 or 30% of the total eligible capital costs of the project, whichever comes first.
What types of project are eligible?
Most projects can be considered for support if they reduce consumption of fossil fuel energy. Case studies on the Carbon Trust website include LED lights, HVAC projects, new beer coolers, heating controls, compressed air upgrades and energy monitoring systems.
Your project must involve replacing equipment you currently own with energy efficient equipment where the savings can be clearly defined.
Projects where the payback period on energy savings is within 5 years are preferred. Where energy savings will pay back in over 5 years, the funding will be restricted to the contribution on the first five years’ worth of energy savings.
CBEN can confirm with the Carbon Trust that your project is eligible for funding.
Can I use my own suppliers and installers?
You can use your own contractor to install the equipment but this must be agreed with the Carbon Trust as part of the application process.
What steps do I need to take now?
The fund applies to projects that are ‘investor ready’. This means that the following steps must be complete before you apply for funding:
- The energy savings must be assessed and verified. CBEN can help with this.
- The specification for the work must be written and ready to send to suppliers and installers. CBEN can help with this.
- A timetable for implementation is agreed.
- The funding for the entire project must be agreed and available.
Once these steps are complete the on-line application process involves the following steps;
- Provide details of your organisation.
- Provide details of the project.
- Provide an agreed price for the entire project.
- Submit details of the accredited suppliers that will be used.
- Submit a detailed assessment of the energy savings that will be achieved.
- Provide quotes from accredited suppliers and your preferred installers.
- Submit details of your capital contribution to the project.
- Provide the Carbon Trust with your bank details
- Provide any additional information required by the Carbon Trust.
Applicants will receive a response from the Carbon Trust within 10 working days. If successful, the project must be completed within three months of the approval date.
The Carbon Trust contribution will be paid on completion and commissioning of the project. Applicants must cover the full capital cost and then claim their grant.
Contact CBEN to arrange a no obligation consultation about your project. CBEN can guide you through the application process and manage the project installation.
Contact us on 01228 549602 or via our website enquiry form.