Bishop Fleming

GO GREEN AND STAY IN THE PINK OF GOOD CONDITION

Top South West accountants Bishop Fleming highlight advantages of new government renewable energy initiatives

Cut your annual energy bill by a fifth - and earn a return of 5% to 8% a year on the money invested in achieving those savings.

It may sound too good to be true but it is achievable, say Bishop Fleming, one of the South West‘s largest and fastest growing accountancy firms.

You could also borrow the money free of interest as part of the government‘s drive to tackle climate change and reduce the UK‘s CO2 emissions.

The Carbon Trust‘s Interest Free Loan scheme has been operational for some time now and in April, a new Feed-in Tariff (FIT) will make green energy investments hugely attractive.

The Carbon Trust‘s offer is open to limited companies, sole traders, partnerships, charities, clubs, friendly societies and voluntary organisations as long as they have been trading for more than 12 months and pass an independent commercial credit check.

The Carbon Trust will provide unsecured interest-free loans of between £3,000 and £500,000 over a four-year period for equipment that can demonstrate energy saving.

Ewan McClymont, head of grant services at Bishop Fleming, said: “Quite simply, the higher the CO2 saving, the bigger the potential loan. It is also possible to turn your business into an electricity producer rather than just a consumer so that you get paid for any surplus energy you produce.

A Renewable Electricity Feed-in Tariff (FIT) will be introduced from April 1 under which a generation tariff will be paid for every kilowatt hour (kWh) of renewable electricity generated, guaranteed for 20 years (25 years in the case of solar photovoltaic panels).

The rate will depend on the type of technology used and the scale of its generation capacity. For example, a 4-10kW solar photovoltaic system would generate 36.1p per kWh under the proposed tariff rates. In addition an ‘export tariff‘ of approximately 3p per kWh will be paid for any unused electricity exported to the national grid.

”This really is a win-win scenario and something that our clients need to know about. You could even think about installing a renewables system at home as the scheme covers homeowners, businesses, charities and community groups,” said Mr McClymont.

He added: “We‘ve looked for the catch but can‘t find one. Indeed, the quicker you join the scheme the higher the generation tariff as rates will decline over time to recognise advances in technology and lower installation prices. You could even pay for the installation with a Carbon Trust 0% loan!”

For more information on either grant funding, interest-free loans or the proposed feed-in tariffs contact Ewan McClymont, Head of Grant Services on 01872-275651.

Alternatively, details of the Carbon Trust Loans can be found by contacting 01865-885837 or visit http://www.carbontrust.co.uk/loans. Guidance on the Feed-in Tariff is provided by Ofgem, the Carbon Trust, the Energy Saving Trust, and DECC (Department of Energy & Climate Change).

ENDS 4th March 2010
For further information please contact Louie Hadley at Sturgess Van Damme, on 01275 349 011 or email louie@sturgessvandamme.co.uk

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