Receive government payments
Installing one of our systems doesn’t just make sense environmentally, you can make significant savings through a range of government incentives to promote the use of renewable energy as well as mitigate the cost of installing a system by tapping into alternative sources of funding.
The UK government has introduced the world’s first long-term financial support programme for renewable heat. Low carbon technologies are becoming increasingly important, as the UK government has committed to meeting 15% of the UK’s energy demand from renewable sources by 2020.
The Renewable Heat Incentive, launched in November 2011, provides payments to industry, businesses and public sector organisations to meet the cost of moving away from traditional fossil fuel heat installations.
The scheme sees you earn a fixed income for every kilowatt-hour of heat you produce. So not only are you saving money by reducing or eliminating your need for gas or oil, but you are also being paid for the hot water and heat that you generate and use yourself.
The exact tariff level depends on what system you use and how large it is, but your organisation could receive payments for up to 20 years with the potential to cover the cost of your installation in just a few years.
While this scheme is currently only available for non-domestic customers in Northern Ireland, BSH can provide you with further information on eligibility and registration for the Renewable Heat Incentive and will keep you abreast of the planned expansion of the scheme to cover domestic customers.
Participants in the scheme must generate and use renewable energy to heat their buildings.
The Carbon Trust offers flexible and affordable forms of finance to invest and install energy-efficient, low-carbon equipment. With 0% business loans available to organisations across Northern Ireland, your company can apply for a loan of between £3,000 and £400,000. The Carbon Trust will assess your project and the carbon savings it will achieve before advising on the size of the loan they can offer and your repayment period.
Organisations in both the public and private sector are realising the benefits of installing a BSH system and a number have chosen to utilise their own funds. The initial installation cost is quickly mitigated by both the carbon savings and the reduction in overheads made by transitioning away from costly fossil fuels such as oil or gas. BSH can tailor our systems to meet your budget requirements and our specialists are on hand to advise on pricing.
Competitive rates and lease arrangements are also available to provide the necessary finance for installation of your boiler system. Rather than providing up front capital a package can be tailored to your needs with the cost of the system covered by your provider and leased back to the organisation for fixed payments. BSH can provide information on reputable finance providers with experience of structuring lease finance packages for renewable energy projects.
A number of specialist asset finance providers have realised the benefits of funding renewable energy technologies. This alternative form of funding provides the capital cost of installing equipment over a structured arrangement that sees the financing company use the asset as security rather than a business or organisation using their overdraft and straining cash flow. BSH can provide you with information on asset finance providers with an understanding on renewable technologies and attractive financing packages.
Funding for renewable energy projects has increased across the board from local banks. Installation of our systems makes commercial sense and many of our customers have used traditional bank funding to support their projects. The appetite to lend sustainable and efficient projects that boost businesses is to be welcomed and BSH can advise on local banks that are operating in this space.
The Green Investment Bank was formed to accelerate the UK’s move to a more green economy. Investment is focused on large-scale infrastructure projects with £3 billion of UK taxpayer capital available. The bank operates on a for-profit basis and projects must meet strict criteria as well as meet the minimum investment threshold of half a million pounds.