Monday, 6th November 2023
Scottish Government has announced a loan scheme for small to medium enterprises in Scotland, offering funding of up to £100k for carbon-saving upgrades and the potential for a £30k cashback grant.
Energy-efficient systems play a pivotal role in Scotland, not only for environmental sustainability but also for significant cost savings and increased operational efficiency. Given the country's commitment to reducing carbon emissions and promoting sustainability, energy-efficient solutions are paramount, which is just one of the reasons the Scottish Government has announced their latest SME Loan. These systems contribute to lower energy consumption, subsequently reducing utility bills and operational expenses. With the help of this loan, small-medium business can enjoy the benefits of modern Solar Thermal, Air Conditioning and Heat Pumps in Scotland, along with several other carbon-saving systems, through all seasons of the year.
What is this loan available for?
The Scottish SME Loan can be used towards the installation of efficient, energy-saving and renewable systems, equipment or building fabric. This includes:
- Heating, Ventilation & Air Conditioning
- Renewable Heat Technologies (e.g. Air Source Heat Pump)
- Improving Insulation, Draught-Proofing, double or secondary glazing
- Installing LED lights
- Installing Solar Thermal, Wind Turbines and Biomass Boilers
Solar PV is currently unavailable for this scheme due to the high number of applications.
Here at Cool & Easy, we can assist with Heating, Ventilation and Air Conditioning, while our sister company can provide Heat Pumps and Solar Thermal. Get in touch for more information.
Who is eligible?
If your company falls under the EU definition of a small-medium sized enterprise (less than 250 employees and an annual turnover up to €50 million or a balance sheet total up to €43 million), non-profit charity organisation or charity, you are eligible to apply for this loan.
All applications for this loan must be accompanied by a qualifying report; for example, Business Energy Scotland’s free energy efficiency or renewable assessments. More information on this here.
Who can receive a cashback grant of £30k?
All SME applications have the ability to apply for a cashback grant of up to £30,000. This is made up of:
- 75% of eligible costs up to a maximum of £20k can be claimed for energy efficient installations
- 75% of eligible costs up to a maximum of £10k can be claimed for a range of renewable heat installations
How do you sign up?
You can apply directly via the Business Energy Scotland webpage, or get in touch with our specialist team for more information and advice. We’ll be happy to walk you through it.
Information by Business Energy Scotland