We’re pleased to announce that Utilitywise has become a recognised supplier of the Energy Efficient Financing scheme (EEF), a joint initiative between the Carbon Trust and Siemens Financial Services Limited.
Being an EEF-recognised supplier enables Utilitywise to provide financing for projects through the scheme, thereby helping firms to install energy saving measures without the hurdle of the up-front cost for the equipment and its installation.
Circa £150,000 worth of energy saving measures is ready to be implemented after the first set of projects has been approved for financing. Utilitywise has a further pipeline of energy saving projects currently being processed for approval.
As part of the scheme, firms will undergo a Utilitywise Energy Audit, which will identify a range of energy saving projects. These are managed by their project team and can cover the whole range of energy efficiency measures from changing lights to solar power.
The EEF scheme can address all recommendations from the Energy Audit or any combination of them. The scheme offers customers affordable monthly payments over a specially tailored period so that those monthly payments match – and are offset by – the average monthly savings on energy bills. Once the financing period is concluded, customers can enjoy the full benefit of any future savings. The typical payback period for energy saving projects is five years or less, and Utilitywise typically focuses on projects that have the quickest payback period, such as lighting.
A typical project might involve replacing inefficient lights with low wattage lights and motion sensors. In a recent project, a company saved over £20,000 a year through lighting changes alone, reducing their energy usage by 18%. As well as reducing energy use by 168,369kWh per year, this also represents a saving of 18,333kg of carbon dioxide per year.
Geoff Thompson, CEO at Utilitywise, said: ”Most companies are naturally keen to cut down on their energy consumption, to do their bit for the environment as well benefit from the subsequent cost savings, but have felt unable to commit to the initial Capex requirements in these difficult economic times.
“This financing option removes that obstacle and will enable more companies to reduce their carbon footprint without putting any pressure on their business.
“Utilitywise is now able to identify energy inefficiencies, provide the right solutions and help to finance their implementation, as well as find the best energy provider to meet their ongoing needs.”