Funding your Solar PV System
The economics of Solar PV now means that the investment returns are excellent without the need for subsidies. However, due to the urgent need to fight climate change, there are a number of options to help fund your Solar PV project.
Grant Funding
There are a number of energy grant schemes and many of these are managed by the Local Enterprise Partnerships (LEPS). Find your local LEP.
An example of such a scheme is the The Marches Energy Grant (MEG) offers free advice, energy assessments and grants for energy efficiency and renewable energy measures to SMEs from all sectors in Herefordshire, Shropshire & Telford & Wrekin. More information and application details can be found here.
At Caplor we keep an up-to-date list of grants available, so please just contact us to find out more.
Green Asset Finance
There are many finance providers that now specialise in funding green energy projects. Some providers such as the Carbon Trust in Wales specialise in providing asset finance based on where your business is based. Others such as Peregrine Finance specialise in specific sectors. In Peregrine’s case this is for farmers and rural businesses. To get a list of available green asset finance providers, please just contact us.
Power Purchase Agreements
For businesses that want the benefits of renewable energy, but simply do not have the capital available to invest, Power Purchase Agreements (PPAs) are a great option. A PPA provider will in essence lease the air space above your Solar PV system. The PPA will pay for the installation, covering purchase, installation and ongoing operational maintenance. In return the PPA provider share the returns with the business renting their roof or ground space. Again, Caplor have recommended PPA providers, so please just contact us to find out more
Stage Payments
A further option to fund your Solar PV system is via staged payments. Rather than paying a lump sum for the installation of Solar PV, businesses can pay for their system over 12 months. If you would like to discuss this option, please just get in touch.
Target 2030 SME Grant Scheme
Target 2030 is a business energy efficiency programme designed to help small and medium sized businesses identify and reduce their energy costs and impact on the environment through the installation of energy efficiency measures.
The service is funded through the European Regional Development Fund and delivered by Severn Wye Energy Agency, a sustainability charity with 20 years’ experience of supporting local businesses.
This grant scheme is available to eligible SME businesses in Gloucestershire, Swindon and Wiltshire. Eligible applicants can apply for a 30% grant towards the installation of eligible renewable technologies on their premises, ranging from £500 to £60,000.
Marches Energy Grant
The Marches Energy Grant (MEG) offers free advice, energy assessments and grants for energy efficiency and renewable energy measures to SMEs from all sectors in Herefordshire, Shropshire & Telford & Wrekin. The funding is also available to support community buildings. As well as the grant funding, the project will also run related networking and webinar events for SMEs and other organisations.
The MEG project builds on the success of previous programmes and complements Herefordshire’s 30 for 2030.
Assessments are for SMEs who wish to use their energy more efficiently, reducing costs and improving environmental credentials. Grants worth up to £20,000 are available for eligible businesses.
Business Energy Efficiency Programme (BEEP)
The Business Energy Efficiency Programme will help local businesses to manage and reduce energy costs, while improving their environmental impact with free energy and resource efficiency reviews and grants up to £20,000.
Part funded by the European Regional Development Fund, BEEP is available to eligible businesses in Worcestershire, Herefordshire, Shropshire, Telford and Wrekin.
Click the button below for more information and application details.
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