Overspending On Energy In Industrial Sector.
By Anne Lewis-Schneider.
Potential energy savings in the industrial sector that include motors, lighting, space heating, high and low temperature processes, compressed air and many others to the tune of £2.2billion per annum, is the market potential from business investment in energy efficient changes. This is according to Darren Riva, who is the head of green financing of the Energy Efficiency Financing scheme.
The Energy Efficiency Financing scheme, along with other official sources, has examined numerous sectors to calculate energy bill overpayment, which have been put down to inefficient technology and controls and a need to upgrade these sectors.
Mr. Riva has stated that there has been a massive difficulty for businesses to gain affordable financing to give companies the necessary boost to convert to green innovative energy efficient technology. This is the primary reason for the Energy Efficiency Financing scheme being put into operation.
This entails a joint venture between the Carbon Trust and Siemens to provide affordable financing as well as more readily available means with which to accomplish changes necessary for energy efficiency. The Energy Efficiency Finance scheme matches monthly payments to real energy cost savings. Businesses will thus end up with new equipment at no extra cost to the company. Competitive business will be increased, carbon emissions will be reduced, and in general there will be a boost to the growth of green energy efficiency.
The Energy Efficiency Financing scheme is there to help companies to raise the necessary financial backing to allow for upgraded technologies in many areas. Some of these areas include new low energy lighting technology, motors that are more energy efficient with less carbon emissions, low carbon air conditioning advancements and biomass heating systems.
The Energy Efficiency Finance scheme has made known that it is available to assist any business that has been trading for a period of three years, with green growth financing. This financing is tailored to match monthly payments with the equivalent savings from reduced energy usage.
The Carbon Trust has offered its expertise in this field of carbon saving technologies in the endeavour to provide it with comprehensive analysis of business needs in respect of carbon, energy and cost savings, to all applicants for finance. The provision of funding for this scheme will be managed by Siemens Financial Services Limited in the UK, and the financial backing will come from the same source.
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