Energy-efficient loans doubled
Oct 01 2008
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The Carbon Trust has doubled the amount small businesses can borrow to make their company more energy efficient.
According to the organisation, the maximum value of the interest-free loans is now £200,000, having previously been £100,000.
Companies can borrow the money on a four-year basis to upgrade equipment to more energy-efficient models.
Hugh Jones from the trust says the previous limit made it difficult for firms to fund bigger projects like lighting or boiler replacements.
'The larger loans pave the way for companies to ... significantly reduce both their carbon emissions and their energy bills, which in turn will enable them to reduce operational costs and become more competitive,' he states.
Jones adds that the tightened credit conditions are making it harder to find funding for additional projects like these.
The trust's overall fund has been increased by 45 per cent, to £31 million for 2008.
A report from the Carbon Trust recently revealed reducing emissions in a firm can increase the value of a company by up to 80 per cent.
According to the organisation, the maximum value of the interest-free loans is now £200,000, having previously been £100,000.
Companies can borrow the money on a four-year basis to upgrade equipment to more energy-efficient models.
Hugh Jones from the trust says the previous limit made it difficult for firms to fund bigger projects like lighting or boiler replacements.
'The larger loans pave the way for companies to ... significantly reduce both their carbon emissions and their energy bills, which in turn will enable them to reduce operational costs and become more competitive,' he states.
Jones adds that the tightened credit conditions are making it harder to find funding for additional projects like these.
The trust's overall fund has been increased by 45 per cent, to £31 million for 2008.
A report from the Carbon Trust recently revealed reducing emissions in a firm can increase the value of a company by up to 80 per cent.
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