Are you looking for ways to make your business more energy efficient but don’t have the budget? You’re not alone – many businesses across the country have been heavily impacted by rising energy costs and the effects of the cost of living. The need for business energy efficiency is becoming increasingly urgent - this is where energy efficiency grants come in. But how exactly do they work? Where do you get them from? And how do you know if your business is eligible?
In this guide, discover everything you need to know about energy efficiency grants and how they can help your business improve sustainability while saving money.
Energy efficiency grants are financial aids used to help make energy-efficient practices more accessible for businesses, helping you save on your business gas and electricity bills while reducing your environmental impact. They may cover different aspects of energy-efficient upgrades, such as energy-saving equipment and processes, energy-efficient buildings, renewable energy sources or staff training.
Different energy efficiency grants have different criteria, different application processes and different funds available. Some grants, for example, may only be applicable to small businesses or specific industries. Others may require a detailed proposal outlining your plan and expected benefits.
You can access energy efficiency grants to revolutionise your business energy use from a number of sources, such as:
One of the main ways you can access an energy efficiency grant is through the government. The Department for Business, Energy and Industrial Strategy (BEIS) offers various funding schemes aimed at promoting energy efficiency, renewable energy, and sustainable development.
One of the most popular grant providers is the Carbon Trust, an independent organisation that helps companies reduce their carbon footprint while boosting productivity and profits. The Carbon Trust offers a range of grants, loans, and other financial incentives to businesses that are committed to reducing their energy consumption.
Local authorities and organisations also offer energy efficiency grants. Some of the largest cities in the UK like London, Birmingham, and Manchester have their own grant programs aimed at promoting energy efficiency and reducing carbon emissions.
There are a range of industry-specific programmes, such as the Energy Entrepreneurs Fund, which helps small and medium-sized enterprises (SMEs) in the energy sector develop innovative new products and services.
Energy efficiency grants have the potential to completely transform how your business uses energy, offering a range of effective benefits including: +
The eligibility criteria for energy efficiency grants can vary, depending on factors such as your business’ location, size, and industry sector. To be eligible for energy efficiency grants in the UK, businesses must typically demonstrate a commitment to reducing their energy consumption and carbon emissions.
This can involve investing in new energy-efficient equipment, conducting energy audits, and implementing measures to improve energy management and reduce waste. Businesses should also be prepared to provide detailed information on their current energy consumption and a clear plan for how you intend to use the grant to implement energy-efficient measures.
The first step to applying for an energy efficiency grant is to research the different grants available, taking into account the size of your company and the energy efficiency measures you plan on using. Be sure to check the eligibility criteria; every grant will have its own, so it’s important to read the guidelines carefully.
Next, you should begin to prepare your application. This will usually involve filling out an application form and providing supporting documentation, such as invoices, quote, and energy assessments. Double check you have provided all of the necessary information before submitting.
If your grant is successful, it’s important to keep a detailed record of your business’ progress, expenses, and energy consumption, as you may need to provide this information for reporting purposes.
Energy efficiency grants can be a great way for your business to increase its profit margins, reduce its carbon footprint and become more competitive within its sector. Even if you don’t qualify for a grant from the government, there are plenty of other ways to reap the benefits of an energy efficiency grant. Although it may seem overwhelming at first, it can be an incredibly rewarding process. With a bit of research and preparation, you could receive funding that could completely transform your business’ energy usage, rates, and image, while helping it achieve extraordinary success!
Here at Save On Bills, we make business energy comparison easy. Save and compare today to find out how you can make staggering savings on your business’ utility bills.