Energy Efficiency Financing is a partnership offering from the Carbon Trust Implementation Services (CTIS) and Siemens Financial Services.
What kinds of organisation are eligible for Energy Efficiency Financing?
Energy Efficiency Financing is available for all kinds of businesses and organisations, from sole traders and partnerships through to large corporates, local authorities and other public sector organisations.
What is the minimum financing amount available?
Energy Efficient Financing is available for £1,000 upwards.
What is the maximum financing amount available?
Assuming your proposed Energy Efficiency Financing project meets the requirements of the independent energy saving assessment conducted by Carbon Trust Implementation Services and subject to credit checks carried out by Siemens Financial Services, there is potentially no upper limit to the amount of financing available.
I am interested in reducing my energy bills, but I don’t qualify for financing. What can I do?
The Carbon Trust group offers a wide range of support to businesses of all sizes in implementing carbon reduction measures.
For further information and energy saving advice , relevant publications and events, please call the Carbon Trust’s Customer Centre on 0800 085 2005.
I am a start-up business, am I eligible?
To make an application for an Energy Efficiency Financing an incorporated enterprise must have been trading for at least 12 months and a non-incorporated enterprise for 36 months.
We are a charity – are we eligible?
Most types of organisations can be considered, including charities, providing they meet the requirements of the scheme.
How can I check if the equipment I want to install qualifies for Energy Efficiency Financing?
Because the Energy Efficiency Financing Scheme deals with energy saving projects rather than equipment, the answer depends on the specific circumstances of your energy usage and processes. To qualify, the projected cost of energy used after completion of the proposed project must show a significant reduction when compared to your existing energy bill.
Are renewable projects included?
Yes, depending on the specific project. Qualification for Energy Efficiency Financing depends upon the amount of energy you will save on site following completion of the proposed project. Therefore if your energy saving project features renewable technology, it might qualify.
How do I apply?
Typically you can apply through your Energy Efficiency Financing recognised supplier. Alternatively you can apply by completing the application form yourself and directly making your application to Siemens Financial Services using the details provided at the end of this document.
What energy consumption data do I need to provide?
You need to supply 12 months of energy bills for your site with your application. Carbon Trust Implementation Services’ independent energy saving assessors will also need to determine how much energy your existing equipment uses – the baseline energy consumption. Your equipment supplier will often be able to assist you in determining baseline energy consumption. We will cross check this against the estimated energy use of your proposed new equipment.
Can my supplier complete the application form for me?
Yes, if your supplier is Energy Efficiency Financing Scheme recognised supplier. Recognised suppliers will be able to take care of the application process for you and submit an application to the Energy Efficiency Financing Scheme team on your behalf.
Might Carbon Trust Implementation Services visit my site to verify projected energy savings?
Carbon Trust Implementation Services may conduct onsite inspections at the site of the application project. Documents will need to be reviewed, such as utility bills, technical information, to verify and validate the information presented in the Financing Application.
Can my supplier track my application for me?
Yes, Energy Efficiency Financing recognised suppliers will be regularly updated with information regarding the progress of your application.
I am acquiring a biomass boiler/burner – do I need to supply additional information?
Yes. If your project involves the purchase of a biomass boiler/burner you will also be required to complete an additional Biomass Heating Energy Saving Calculator (excel, 105kb). This should be provided with other supporting documents when you or your supplier submit the application.
I am acquiring an automotive spray-booth – do I need to supply additional information?
Yes. If your project involves the purchase of an automotive spray-booth you will also be required to complete an additional Spraybooths Energy Saving Calculator (excel, 162kb). This should be provided with other supporting documents when you or your supplier submits the application.
I am acquiring Voltage Management equipment – do I need to supply additional information?
Yes. If your project involves the purchase of an voltage management equipment you will also be required to complete Voltage Management additional information (word, 25 kb). This should be provided with other supporting documents when you or your supplier submits the application.
I am acquiring a Plastic Injection Moulding machine – do I need to supply additional information?
Yes. If your project involves the purchase of an automotive spray-booth we also require you to complete an additional Plastic Injection Moulding spreadsheet (excel, 59 kb). This should be provided with other supporting documents when you or your supplier submits the application.
I have a project that has a payment period of over five years – could I still receive Energy Efficiency Financing?
Possibly, depending on the expected working life of the equipment and the expected energy savings from the use of the equipment over time.
Might I receive part financing?
Possibly, if the projected energy savings of the overall project does not achieve the required energy savings part financing may be considered. Financing will always be subject to credit approval.
Where a part financing is offered, you will be asked how you will fund the remainder of the project costs.
I already have Energy Efficiency Financing – can I apply for further financing?
Existing customers may apply for further financing – subject to normal credit checks and the energy saving assessment carried out by Carbon Trust Implementation Services.
My equipment has already been installed – can I apply retrospectively for Energy Efficiency Financing?
No, under normal circumstances this will not be considered.
I have a number of sites – how should I apply for Energy Efficiency Financing?
The Energy Efficiency Financing Scheme may be able to accommodate multi-site applications. Using a masterlease product it may be possible to provide financing across multiple sites for one company.
I lease my premises – can I still apply?
Yes, provided the lease for the premises is one which exceeds the period of the financing, you will be responsible for the equipment over its working life, and will benefit from the savings made.
I own a building which is let to tenants – can I still apply?
Yes, as long as you are the applicant who will finance the equipment, and are responsible for the energy bills and pay these directly.
I have a project that is not going to start for another four months or more – when should I apply?
As the Energy Efficiency Financing offers remain valid for three months from the point you receive confirmation, you should apply within three months of the project starting.
In very rare situations the acquisition of expensive capital equipment may require longer lead times. These circumstances may be accommodated during the application process.
Can I add VAT to the financing amount?
Yes, generally financing payments will be subject to VAT.
Will I have to provide any further information after the Energy Efficiency Financing is offered?
Yes. After the equipment has been installed you will need to provide Siemens Financial Services (usually via your Energy Efficiency Financing recognised supplier) a signed copy of the Certificate of Acceptance confirm that the project is completed. The supplier can then be paid and your Financing agreement can begin.
Costs and payments
How long does it take to arrange Energy Efficiency Financing and how is the supplier paid?
If all paperwork requested has been correctly completed and returned to the Siemens Financial Services your application can be processed within ten business days, often sooner.
How do I make payments?
Once your Energy Efficiency Financing agreement has started you will make regular payments to Siemens Financial Services by Direct Debit.
How will my payments be calculated?
The amount of your regular payments will depend on the type and amount of the financing you choose, on the terms of the agreement and the expected energy savings. Each agreement will be individually tailored depending on each customer’s circumstances.
Does the Energy Efficiency Financing cover installation of the equipment?
Installation can be covered, however this would be dependent on the proportion of installation to equipment and the finance product:
(a) the installation is to be carried out by a third party organisation that has provided a written quotation for the work; and
(b) the estimated carbon savings resulting from the project exceed the carbon-saving threshold associated with the total cost of the equipment plus installation.
What happens if the actual energy savings realised don’t cover the cost of the financing payments?
You will still need to make the financing payments. However if you follow the process and choose a professional supplier, it is unlikely you will fail to make the savings expected.
What happens if I am in dispute with my supplier?
Neither Carbon Trust Implementation Services or Siemens Financial Services will become involved in disputes between you and your supplier. The Energy Efficiency Financing Scheme does not recommend suppliers and would suggest you carefully select your supplier based upon your usual procurement decisions. As the financing is provided for a specific project, you will need to pay the financing in full if the proposed equipment is removed following resolution of a dispute.