£20m extra for public sector energy efficiency
A further £20 million in loans to boost energy efficiency in schools, universities, hospitals, local authorities and other public sector buildings is now on offer for projects in England.
The loans, provided by government-funded firm Salix Finance, are for efficiency projects that pay for themselves within five years through lower energy bills. Repayments are made from the money saved on bills.
“Demand from the public sector for energy-efficiency improvements is enormous. This interest-free loan fund removes the barrier of having to find capital to pay for measures at a time of tight budgets,” said Alastair Keir, chief executive at Salix Finance.
The scheme has funded more than 7,000 projects across the UK since it started in October 2009. To take advantage of the additional £20 million on offer, projects need to be agreed by the end of March 2012.
It is estimated the new money will fund projects delivering savings of around £46 million on bills and 210,000 tonnes of carbon.