Funding Opportunities
Successful businesses are those that plan for long term sustainable development, taking into account the social and environmental impacts of their activities. A sustainable approach can benefit your business through improved efficiencies, profitability and reputation of the business and the products and services you offer.
There is an increasing number of funding schemes aimed at businesses to help them improve their environmental credentials and long term sustainable development.
European Regional Development Fund (ERDF)
The main theme of the ERDF programme is to support low carbon economic growth in the East of England. Funding will support initiatives that meet the programmes three priorities (axes) as well as environmental, sustainable and equality criteria.
For further details please Download the PowerPoint presentation. For details of projects already supported by ERDF funding please visit the ERDF Website.
For further advice and support on putting together a concept and bid for ERDF funding please contact Jason Middleton, Partnership Management of Shaping Norfolk's Future on 01603 222216.
The East of England region is calling for proposals for transport-related projects under the European Regional Development Fund (ERDF) Competitiveness Programme (2007-2013). An allocation of £8 million ERDF will be made available.
For further information on potential project ideas, consortium approaches, outcomes and a specification which sets out the funding requirements please visit the ERDF website.
Carbon Research and Development Grants
Grants for Research and Development, providing finance of up to £250,000 are available for innovative low carbon projects. The grants can be used for proving a market place, developing a prototype and/or testing feasibility. The grant will fund between 40% and 60% of the total project cost.
For more information about Grant for Research and Development (GRAD)
Carbon Trust 0% Business Loans
The Carbon Trust offer interest free loans of £3000 - £500,000 for organisations to invest in energy saving projects. The businesses loans are designed for energy savings to recover the repayments; therefore the loan effectively pays for itself!
Carbon Trust Enhanced Capital Allowance Scheme
The Carbon Trust offer businesses 100% tax relief to businesses that invest in energy saving technologies via the Enhanced Capital Allowance scheme.
Low Carbon Building Programme (LCBP)
The Low Carbon Buildings Programme offers grants to public sector buildings (including schools, hospitals, housing associations and local authorities) and charities for the installation of microgeneration technologies. The current programme deadline for grants and installation has been extended to April 2011, when it will be replaced by the Renewable Heat Incentive.
Qualifying organisations can apply for 50% of the project cost of installing microgeneration technologies. Please note Phase 2 has closed to all new applications for grants for electrical microgeneration, however grants are available for installations of up to a maximum of 300kW heat.
Products and installers must be selected from the Microgeneration Certification Scheme (MCS). For more information please visit the Low Carbon Buildings Programme website.
Community lead approach to the delivery of RDPE funding in rural areas. Grant funding is available for agribusiness development and diversification, water distribution and usage, sustainable rural tourism, sustainable local food and rural businesses development. Please visit the website for further details.
Feed in Tariffs (FITs)
Individuals, organisations or businesses in England, Wales and Scotland who install low carbon electricity generation could benefit from FITs:
You will be paid up to 41.3 p/kWhr for every unit of electricity you generate, even if you use it yourself. You will also get an extra 3 pence/kWh for every unit that you don't use that is exported to the grid.
The tariffs are paid for 20 years, except solar systems which are paid over 25 years. These tariffs should cover the initial capital cost and earn a return of 8p.a. You can also benefit from a reduced electricity bill where you use the electricity that you generate rather than having to buy all you need from the grid.
The Renewable Heat Incentive is a fixed payment for the renewable heat you generate yourself. The Renewable Heat Incentive comes into force in June 2011 and is for everyone, including households, landlords, businesses, farmers, schools, hospitals, care homes and more.
Low Carbon Innovation Fund (LCIF)
The Low Carbon Innovation Fund (LCIF) is a European Regional Development Fund (ERDF) supported venture capital fund. The fund will make early-stage equity investments into small and medium sized enterprises ("SMEs") within the East of England that are developing new and innovative products or processes in a low carbon, environmentally sensitive manner.
The LCIF uses £8M from European Regional Development Fund matched with approx £12M or more from private co-investment. Each investment uses public and private investment funds on a 40:60% ratio. The LCIF contribution will be between £50K and £500K and the co-investment will be at least the same amount.
To find out more please visit the website at www.lowcarbonfund.co.uk
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