Salix Finance was invited to submit a response to the Department of Business Energy & Industrial Strategy‘s (BEIS) call for evidence in “Leading by example: cutting energy bills and carbon emissions in the public and higher education sectors”. The response outlines key recommendations to widen the accessibility of low carbon technologies available to the public and higher education sectors. Thereby building on the success of Salix’s public sector clients which have already completed over 15,000 energy efficiency projects, estimated to save the UK public sector over £2 billion over the lifetime of the technologies.
The response is supported by evidence from current Salix clients and outlines multiple opportunities to remove barriers within the public and higher education sector to enable the delivery of the Government’s Clean Growth Strategy. This includes six key recommendations for the Government to action which would significantly improve access to capital for the public sector, enabling emissions and financial savings.
Key recommendations for action by BEIS:
1. Improve value for money across all future schemes by phasing out grant-based incentives for energy efficiency projects and replacing them with 100% interest-free loan alternatives
2. Extend actual loan repayment periods so that clients can benefit from immediate revenue savings whilst undertaking comprehensive energy saving measures
3. Allow Salix to invest in new Clean Growth Strategic Funds, following best practice from Salix’s current Recycling Fund model, encouraging long-term energy efficiency schemes
4. Increase the Salix compliance payback criteria and delivery limitations for certain low carbon technologies e.g. building fabric improvements and so that PSBs can take a more comprehensive and longer-term view
5. Enhance the technology sectors eligible for Salix finance to include innovative emerging technologies, in addition to the established tried and tested solutions
6. Enable Salix to provide a wider offering of client support such as funding up-front energy audits and client resource
To download Salix Finance’s response to the Department of Business Energy & Industrial Strategy’s call for evidence “Leading by example: cutting energy bills and carbon emissions in the public and higher education sectors” click here.
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