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UK equipment scrappage scheme gives renewable energy industry £2m cash boost

The Carbon Trust has called on UK renewable energy equipment suppliers to take advantage of a £2 million sales opportunity from its equipment scrappage scheme: The Big Business Refit.

The Big Business Refit provides small and medium businesses with £100m in interest-free funding to replace old equipment and install new energy efficient upgrades. Around £2m of this money is likely to be spent on renewable energy equipment, according to Carbon Trust estimates. Individual loan sizes are in the range of £3000-400,000.

“Renewable energy equipment has been one of the most popular choices of energy-efficient kit for businesses that have taken Carbon Trust loans in the past. Suppliers can increase their revenue by millions by making their customers aware of this funding and how to apply,” says Hugh Jones, Director, Solutions, the Carbon Trust.

The Big Business Refit was launched in September 2009, by Dragon’s Den (UK entrepreneurial TV competition) star, Theo Paphitis, after Carbon Trust research revealed that over half (52%) of British businesses don’t have the cash to upgrade old, inefficient equipment. The Carbon Trust is now experiencing a 250% surge in enquiries about the loans, as more businesses become aware of the opportunity to cut their energy bills by scrapping old equipment and in some cases install renewable energy equipment.

The Carbon Trust is offering free training to any supplier, including renewable energy suppliers, interested in the sales opportunity provided by the Big Business Refit.

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