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Dulas to offer financing for renewable energy projects in England, Wales

New loans aim to help commercial businesses purchase and install solar photovoltaic equipment.

The innovative financing scheme is delivered through Siemens Financial Services. Dulas will offer the scheme to commercial companies who have been trading for over three years (subject to credit checks).

“The Energy Efficiency Financing Scheme will enable businesses to install their very own solar PV systems without the need for a costly up-front payment," Sanjay Bowry, CEO of Dulas Ltd., explained. "With the reductions in their energy overheads and income from Feed-in-Tariffs (FITs) and electricity export, businesses that sign up for the scheme will effectively be repaying their loans and purchasing the equipment with the savings on their fuel bills."

An effectively installed solar PV system will allow businesses to generate their own electricity to power their day-to-day functions, meaning loan repayments can be offset against earnings from the FITs and money saved on energy bills. “With trade body Energy UK predicting energy prices will rise 46% by 2020, those business that currently purchase their electricity from the grid are going to face an uphill battle to manage their energy overheads," Bowry added. "We’ve already witnessed a large number of businesses taking matters into their own hands by installing renewable technology to generate their own power." 

Having the ability to harness free energy from solar PV is already providing many businesses with a means to safeguard themselves against spiralling energy costs and its popularity is growing. Recent Government figures released in the annual Digest of UK Energy Statistics showed that electricity production from renewable energy sources in 2012 was up by almost 20% on the previous year and accounted for over 11% of all electricity generated in the year.

 


 

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This article is featured in:
Energy efficiency  •  Energy infrastructure  •  Photovoltaics (PV)  •  Policy, investment and markets

 

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