Dimplex has launched Renewable Energy Finance, a scheme designed to overcome budget restrictions and spread the costs of the full installation of renewable energy systems, covering ground and air source heat pumps and solar thermal systems.
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Chris Davis, Dimplex’s head of renewables, says: “This new scheme will open up the possibility of energy efficient heating to more local authorities, schools and housing associations as the initial capital investment of an installation can be spread over up to a maximum of 15 years. Essentially this allows projects aimed at tackling issues such as Decent Homes and fuel poverty to be accelerated; while grant funding schemes such as LCBP 2 are still available and overcome the traditional constraints of having to work within limited annual capital budgets.”
Dimplex already works with clients to secure any available grant funding under the Low Carbon Buildings Programme Phase 2, the Community Sustainable Energy Programme (CSEP) and the Scottish Community & Householder Renewables Initiative (SCHRI). The new scheme can be used for 100% project funding or as top up match funding (depending on grants available), to support those companies and organisations that are looking for renewable energy solutions but need additional initial capital funding.
The scheme is a partnership between Dimplex and specialists Asset Finance & Management Ltd (AFM) which has extensive experience particularly in the social housing market with the Heat Lease scheme – which has seen AFM handle £18 million in finance of electric heating systems over 10 years involving 63,000 pieces of equipment.
The renewable energy financing for the capital expenditure can be turned into instalments allowing for budget management as expenditure can be fixed over a period of up to 15 years, with on/off balance sheet funding as required.
The whole heat pump or solar thermal system can be funded, including consultancy, installation and commissioning as well as groundworks, all renewable equipment and the heat distribution system.
Bespoke agreements to suit individual housing groups’ issues will be considered by the Dimplex renewable energy scheme and in some instances the scheme will also consider deferred payment options to ease current budget constraints, plus VAT can also be deferred.
For further information on the scheme, call Dimplex on 01489 773336 or email marketing@dimplex.co.uk
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