A multi-billion pound fund to ‘green’ more than 4m small businesses is being considered by the government.
Business will be able to apply for loans to replace old boilers and other pieces of high energy use equipment. The money will be repaid from the savings they will make on energy bills.
Banks and energy companies are being consulted over financing and implementing the scheme, which is expected to be announced in the Queen’s Speech in November, reports the Daily Telegraph.
- Up to £1,250 in government payments available to install eco heaters
- £15 million in total to support up to 25,000 installations, with a review after £10m
- Information line and website launched today
- Close monitoring of the technologies to help understand performance
Many small firms are keen to adopt environment friendly measures but are put off by the cost, says a business lobby group.
The government needs to encourage green business policies, added the Federation of Small Businesses (FSB).
In its report: Small Businesses and the Low Carbon Economy, the FSB said the UK is aiming to cut its carbon emissions by 20% within a decade.Yet the sheer costs involved deter many smaller firms from adopting green policies.