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Public sector energy saving loans deadline approaches

The deadline to apply for public sector energy efficiency loans is fast approaching, says provider Salix Finance.

The independent not for profit company was awarded an additional £20million by the Department of Energy and Climate Change (DECC) at the end of last year for its public sector energy efficiency loans programme. 

The loans, available for efficiency projects in England across the public sector – from schools and universities to local authorities and NHS Trusts – before the end of March 2012, will save organisations money on energy bills and reduce carbon emissions. 

These are available for energy efficient projects that pay for themselves within five years through lower energy bills.

Repayments are made from the money saved on energy bills and, once the loans are repaid, the organisation continues to benefit from the low carbon equipment and the saving it delivers.

Salix supports over 120 types of energy efficiency technology and has funded over 7,500 projects.

The funding will be paid by Salix to successfully completed schemes before the end of December 2012 and is allocated on a first come, first served basis

Examples of projects funded by Salix Finance’s loan scheme (SEELS):

Staffordshire University has carried out 17 projects - including insulation projects, network power management, low loss transformer including voltage management and lighting projects, valued at - £722,592 in total.

The annual energy bill savings from these are £236,611 per year with expected lifetime savings of £3,928,288. These projects will save 1600 tonnes of CO2 annually.

Durham County Council has implemented a number of street lighting projects to the value of £1.12m across the councilarea. These will realise lifetime savings of £6.8m and reduce CO2 emissions by 42,400 tonnes over theirlifetime.

The installation of a condensing flu gas economiser, which improves boiler heat recovery, at a cost of £300,000 will save King’s College Hospital over £2million and reduce CO2 emissions by 18,000 tonnes over its lifetime.This technology pays back its costs within 18 months.