Sources of funding and what you need to do to get it
With the completion of ESOS, you may be considering the project recommendations and how you will fund these activities. We have put together a comprehensive list of internal and external sources of funding to help you to get your projects started.
Internal sources of funding
Get your financial director on board, they too want the business to improve. An attractive portfolio of projects, with robust measurement and verification plans will ensure savings are proven.
Your energy saving project may be a great story for your marketing team as part of their PR and wider CSR communication to consumers. Brand managers will also be keen to reduce the cost of their product portfolios and can help to present your investment case at board level.
Your own maintenance budget
Look at whether the small CapEx projects can fit into your maintenance budget.
External sources of funding
Third Party Finance
There are many external sources of third party finance for debt and equity. Find the most appropriate for your business and the sort of projects you wish to undertake. Bear in mind, projects structured as off balance sheet will need to be in line with global accounting standards.
Look out for government funded schemes to accelerate project implementation. Some examples include;
Industrial Heat Recovery Support programme (IHRS)
A funding programme for investing in the deployment of heat recovery technologies. This applies to heat recovery within the same process, heat network or converting heat to power.
Industrial Energy Transformation Fund (IETF)
A funding programme for investing in energy efficiency or deep decarbonisation technologies. This applies to energy efficiency, compressed air, refrigeration and process optimisation. More details about IETF here
Client case study
We helped a major global food and beverage company evaluate the options for the delivery of an anaerobic digestion plant to meet a net zero carbon target. This was structured as a long-term PPA with the project developer leasing the land. We supported the client with a procurement process in order to secure the best delivery partner and finance solution.