Academies must take responsibility for the inherited land and buildings and more importantly, the development of these assets to meet the demands of the curriculum. Historic under investment in infrastructure means that much of the inherited asset base can be in need of upgrade or replacement in order to meet the demands of the curriculum. INECO Energy is able to provide support to access capital grants, EFA approved leases and other funding streams to address these challenges.
Salix have developed a pilot fund in partnership with the Educational Funding Agency ‘EFA’ that focuses specifically on energy efficiency projects. This new EFA finance solution is available for academies, multi academy trusts and sixth form colleges.
The funding is available in a similar format to that of local authority maintained schools with an eight-year interest free loan paid for by the annual energy savings. The finance loan can be applied for even if your project does not fully pay for itself and any finance shortfall can be made up from other funding solutions.
INECO Energy has a 100% success rate in securing Salix Finance for schools across the UK. Our success is due to our unique process and working closely with Salix to ensure that our “design for efficiency” solutions comply with all criteria for their rigorous technical and business case appraisals.
To date, Salix has funded over:
Salix funding includes all public sector organisations and across their whole estates, including schools, higher and further educational institutions, emergency services, hospitals, leisure centres, local authorities, the NHS. There has been a focus to commit more resources to increasing energy efficiency and driving down energy costs, which Salix aim to address and assist the public sector in doing.
Grant funding is available for some organisations who meet certain eligibility criteria. These grants are available to some schools and academies to help offset the cost of implementing energy efficiency or renewable energy solutions. INECO Energy has experience utilising a number of financial streams to enable the implementation of our sustainable energy solutions.
If Academies have access to their own capital, the benefits and financial returns offered by energy efficiency and renewable energy projects often outweigh the returns received from traditional investment routes.
INECO Energy can work with you to undertake an investment analysis review to determine which projects would deliver the best returns in line with your requirements. Investing in saving, creating and procuring energy better is sound business practice.