Businesses to be shown how energy efficient lighting can slash costs
More than 90 per cent of large companies now have an energy reduction strategy and a growing number of SMEs are following suit.
Businesses are now able to take advantage of funding available from the Carbon Trust and Siemens Financial Services worth up to £550million over the next three years.
Speakers at the event at the De Vere Hotel in Whiston, Merseyside, on Thursday, July 5, include David Hunt, a director with leading renewable and energy efficiency company Eco Environments, Elaine Fox, of the Carbon Trust/Siemens and Rob Adams, a senior tax manager with Grant Thornton in Liverpool.
David Hunt said: “A large proportion of SME owner managers still think that renewable energy or ‘green’ technology is about saving the planet. This couldn’t be further from the truth – rather than saving the planet, harnessing the right energy efficiency solutions could actually be about saving a business, particularly during these tough economic times and against a backdrop of ever rising energy costs.”
One manufacturer customer of Eco Environments currently spends £48,000 a year on lighting its premises, but this figure will reduce by more than half to £21,000 a year with energy efficient lighting. The implementation cost is £40,000 meaning that in less than two years the company will have recouped its outlay.
Meanwhile, a smaller scale project involving a car showroom and garage will see the company reduce its annual electricity spend from £7,500 to £2,500 with the new lighting installed. The cost of the project is approximately £24,000 meaning that the project will have paid for itself in less than five years.
However with a Carbon Trust/Siemens loan, companies like these can go ahead with their energy efficiency project without capital expenditure and with energy savings greater than the finance costs involved. Energy efficient lighting schemes are also eligible for Enhanced Capital Allowances (ECA) giving a 100 per cent write-off in the current tax year and other tax benefits.
To book a place at the free seminar, email Eco-environments.
About the seminar
We all know spiralling energy costs are a major issue for businesses, a recent Deloitte survey suggesting 90% of large companies now have an energy reduction strategy. The problem is perhaps even more critical for SMEs, a recent Business Juice survey suggesting 97% of businesses are taking measure to avoid ‘catastrophic’ consequences from rising energy costs. But in times of limited budget how can you fund the projects that reduce your bills, and what are the tax benefits?
This seminar will show you…
- A case study- How installing energy efficient lighting can reduce your lighting costs by up to 90%, and give you a better lit environment.
- Funding- How Carbon Trust/Siemens Energy Efficient Financing can help get enable your project to proceed without initial Capex spend, AND where your energy savings are greater than your finance costs. No capex, no increases monthly costs!
- Tax Benefits- Energy Efficient Lighting, as with many energy efficiency products are eligible for Enhanced Capital Allowances (ECA), giving a 100% write off in the current tax year. However you fund your project there are tax benefits too.
David Hunt- Director of Eco Environments. David is a member of PRASEG (Parliamentary Renewable and Sustainable Energy Group) and committee member of the Low Carbon Economy Board for the Liverpool City Region, and regular commentator on BBC Radio 4, broadsheet and industry media.
Eco Environments are an award winning installer of renewable energy and energy efficient lighting systems.
Elaine Fox- Account Manager for Carbon Trust/Siemens. Elaine is Account Development Manager for the North West, prior to transferring to Siemens in April 2011, Elaine worked as a Loan Account Manager for the Carbon Trust and continues to assist companies with funding for energy efficient projects.
Carbon Trust and Siemens Financial Services is a joint partnership to provide UK businesses with green equipment finance worth up to £550 million over the next 3 years. The new affordable and flexible scheme enables UK businesses to invest in cost effective energy efficiency equipment. Energy Efficiency Financing is available to all types of organisations, with financing payments calculated so that they are offset by anticipated energy savings the financing option is designed to pay for itself.
Rob Adams- Rob Adams- Senior Tax Manager at the Liverpool Office of Grant Thornton. Rob specialises in advising entrepreneurs and their businesses on a wide range of different taxes. Rob will speak about capital allowances for investing in ‘green’ equipment and other related tax opportunities.
Grant Thornton offer award winning audit, tax and specialist advisory services to privately-held businesses, public interest entities and individuals.