Monday, 6th November 2023
Energy-efficient systems play a crucial role in Scotland, not only in supporting environmental sustainability but also in delivering substantial cost savings and increased operational efficiency. The commitment to reducing carbon emissions and promoting sustainable solutions in the country has driven the introduction of this SME Loan by the Scottish Government. These systems significantly lower energy consumption, leading to reduced utility bills and operational expenses. Through this funding, small and medium-sized businesses can access and benefit from modern energy-efficient technologies like Solar Thermal, Air Conditioning and Heat Pumps in Scotland, among other carbon-saving systems which are beneficial all year round.
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 Renewables, we can assist with Renewable Heating, Heat Pumps and Solar Thermal, while our sister company can provide Air Conditioning, Ventilation and other heating systems. Get in touch for more information.
Who is eligible?
If your company fits within the EU parameters defining a small-medium sized enterprise (with fewer than 250 employees and an annual turnover up to €50 million or a balance sheet total up to €43 million), or if your organisation is a non-profit charity or charity, you meet the eligibility criteria for applying for this loan.
Every application for this loan needs to be supported by a qualifying report. For instance, this could involve utilising Business Energy Scotland’s complimentary energy efficiency or renewable assessments. Further details can be found here or visit Home Energy Scotland for their funding calculator tool.
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?
To apply for the SME grant, you can visit 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