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The Carbon Trust has launched a £7m fund to help small businesses cut costs and save energy.

The fund can also be used to purchase a range of equipment, including energy efficient Cold Rooms, Heating, Refrigeration Systems and Air Conditioning (HVAC) and energy efficiency controls – vital equipment across a range of business sectors, including hotels, retail, and hospitality.

The scheme is expected to support 1000 to 2000 smaller businesses across England, Scotland and Wales. It is expected to enable participating businesses to invest £55m in energy saving projects which would deliver them lifetime energy savings of almost £130m. The programme will focus on high-quality implementation to ensure the best energy efficiency opportunities are fully realised. The Green Business Fund launched on Monday 18th April 2016.

To accompany the announcement, new research of senior decision makers within SMEs found that almost half (46%) are concerned about the amount they currently spend on energy.

• 37% of businesses nationwide would like to take more action to their improve energy efficiency.
• Lack of money to invest in new energy-saving equipment and lack of affordable options to improve energy efficiency rank as the largest barriers for businesses to improve their energy efficiency (23% for each).

“Our experience of working with thousands of companies across the UK indicates that year-on-year savings of 20% to 30% can be delivered through action on energy efficiency. We’d encourage smaller companies to apply to make the most of the fund on offer in order to realise significant savings on their bottom line.”

Hugh Jones
Managing Director, Advisory, at the Carbon Trust

*Story courtesy of the Carbon Trust