In 2023 and beyond, the role of sustainability is key within any organisation and companies need to show a commitment or interest in protecting their environment to be relevant and stay competitive.
Whilst changing your processes or adding expensive systems for heating and cooling may seem like a lot of work, there are useful grants in place that can help you save or contribute anywhere from £1,000 to £100,000 or more.
To help nurture this, the UK government has created a number of good grants designed to help pay for additions and improvements to your business that can reduce energy consumption and CO2 emissions. We list 5 business grants that can be used by companies big and small to help save money and boost their sustainability.
The Energy Savings Opportunity Scheme (ESOS): ESOS is a mandatory program aimed at large organizations in the UK, says utilities price comparison site, Warmable. It requires qualifying businesses to conduct energy audits and identify energy-saving opportunities.
While ESOS itself is not a grant program, it is a crucial first step for large businesses in understanding their energy usage and identifying areas where improvements can be made. By identifying these opportunities, companies can then seek funding or grants to implement energy-efficient measures. ESOS compliance can result in cost savings and greater energy efficiency.
The Industrial Energy Transformation Fund (IETF): The IETF is designed to assist energy-intensive industries in the UK in reducing their energy consumption and emissions. The fund provides financial support to businesses that undertake projects aimed at improving energy efficiency.
This can include the adoption of energy-efficient technologies or the development of more energy-efficient processes. The IETF is a valuable resource for industrial and manufacturing businesses looking to enhance their energy performance while reducing environmental impact.
The Carbon Trust Green Business Fund: This fund is specifically tailored for small and medium-sized businesses (SMEs) in the UK, according to Techvolutionary. It offers free energy assessments, expert advice, and financial contributions to help SMEs implement energy-saving projects.
The support provided by the Carbon Trust Green Business Fund can cover a wide range of measures, from upgrading lighting systems to improving heating and cooling efficiency. By accessing this fund, SMEs can lower their energy costs and reduce their carbon footprint.
The Renewable Heat Incentive (RHI): The RHI is a government scheme that provides financial incentives for businesses and homeowners who install renewable heating systems.
While it is not limited to businesses, companies can take advantage of the RHI by incorporating renewable technologies such as biomass boilers, heat pumps, and solar thermal systems into their operations. By utilizing renewable heat sources, businesses can reduce their reliance on fossil fuels, lower energy bills, and lower their carbon emissions.
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5 Business Grants in The UK To Make Your Company More Sustainable