UK engineering companies profit from government energy efficient loan scheme

Citation

(2004), "UK engineering companies profit from government energy efficient loan scheme", Anti-Corrosion Methods and Materials, Vol. 51 No. 3. https://doi.org/10.1108/acmm.2004.12851cab.004

UK engineering companies profit from government energy efficient loan scheme

UK engineering companies profit from government energy efficient loan scheme

Keywords: Engineering, Government, Energy, UK

Engineering companies in the UK could add an average of £18,000 a year to their bottom line by switching to energy efficient equipment according to Action Energy, the government funded energy efficiency programme run by the Carbon Trust. This figure is based on the average of estimated savings experienced by companies which have already received an Action Energy Loan.

Analysis of the figures revealed that companies taking advantage of the Action Energy interest-free Loans scheme to replace equipment with more energy efficient systems, will add an average of £18,000 to their bottom line.

The Action Energy Loan scheme is a £10 million interest-free fund offering loans to small and medium companies in England, Wales and Northern Ireland. Even a modest investment in energy efficiency measures could save a company as much as 20 per cent on their energy bills and immediate savings mean that the equipment quickly pays for itself. Once the loan has been repaid, the ongoing savings go straight to the company's bottom line.

One engineering company that has profited from an Action Energy Loan is Essex based SG Magnets.

Ken Dix, Site Services Manager for SG Magnets said: “We decided to apply for an Action Energy Loan as it seemed too good to be true – the chance to make money through replacement of equipment was unbelievable. Our experience has surprised us as not only was the application process very user friendly but we will benefit from savings on our energy bills year on year.”

Peter Stones, Action Energy Loans Development Manager at the Carbon Trust, explains: “Average profits of £18,000, demonstrate the financial benefits of switching to more energy efficient equipment and the growing success of the Action Energy Loans scheme.”

Stones continues: “Other small and medium companies should take advantage of the great opportunities offered by the interest-free loans. Becoming energy efficient brings both short-term and long-term benefits with proven impact on the bottom line. It also helps combat climate change as energy efficiency is the most effective way to cut carbon emissions.”

To apply for an Action Energy Loan or to find out more about the other Action Energy services call the helpline on 0800 58 57 94, or visit the Web site: www.actionenergy.co.uk