Salix Fund helps Academy’s keep efficiency resolutions
February 13, 2017
The ‘Salix Energy Efficiency Fund’ (or SEEF) is a Government-backed Funding pot for Academies.
It has been developed in partnership with the Education Funding Agency (EFA) focusing specifically on encouraging the growth of energy efficiency projects. All academies – including ‘Multi-Academy Trusts’ (MATs) as well as sixth form colleges (SFC) – have now been granted access.
This is significant because academies and SFCs hold less access to government funds, yet now they have the opportunity to access a whole new source of income to fund projects that can save both energy and money annually.
A few things you may need to know
1. The deadline for this fund passed in mid-January this year, although it will be back again next year (Plenty of time to get your project planned and started).
2. The supported projects can range from lighting/heating controls to LED installations and other system upgrades. The fund supports all energy efficiency projects that require capital to implement, but it must meet the Condition Improvement Fund’s (CIF) criteria.
3. The main criteria for this fund is that the projects must pay for themselves within 8 years through their annual energy savings (though alternatively If your project doesn’t meet the 8 year payback period, you can put up part of the required capital yourself in place of a CIF loan/grant and then proceed with the SEEF). Only one SEEF bid can be made per Academy/SFC (in addition to the two CIF bids for those eligible).
What can we do now?
Now is the time to take action. You can improve your chances for funding by getting your application in sooner, many of things you need to include within your submission can be arranged right now. You should check you are eligible by Easter/May to have your application submission ready by the Summer Holidays.
Why not join other applicants in requesting an email alert once the fund is available again.
– The Biz Juice.com – https://www.thebizjuice.com/category/all-categories/starting-a-business/.
– Salix Finance.co.uk – http://www.salixfinance.co.uk/loans/SEEf