Businesses can now apply for funding to help towards the cost of implementing energy efficiency measures. The fund was launched jointly by the Carbon Trust and Siemens and is known as the “Green Finance Initiative”, with £550m available over the next 3 years. The finance can be used for any manner of energy efficient measures, from insulation to the installation of commercial biomass boilers, as long as the Carbon Trust believes that the financing will be paid for through lower energy bills, and has significant carbon savings. The financing is effectively a zero interest loan, which is repaid through reduced energy bills – in a similar manner to the “Green Deal” to be launched for households in 2012. The timing of the launch of the fund is critical as it comes alongside the introduction of the Renewable Heat Incentive which is to be launched in June this year.
