Enhanced support for businesses to reduce their carbon emissions

The Business Energy Saving Scheme has relaunched today, bringing in a number of improvements.

The Scheme renamed the Business Emissions Saving Scheme (BESS), aids businesses seeking to make positive changes through making their operations more energy efficient, reduce carbon emissions and lower energy costs.

Taking on board feedback through a business survey and the Climate Change Transformation Team, the key features and improved changes to the BESS include:

• Increased financial assistance available for eligible businesses ranging from £20,000 to £100,000, tiered as follows:
  • Up to £50,000 for businesses of all sizes
  • Up to £75,000 for businesses which have 10–25 employees
  • Up to £100,000 for businesses which have over 25 employees
• Increased grant support to 75% of the cost of energy audit of which will help businesses identify the best approach to reducing emissions. 
• Support measures extended to include a wider range of energy efficiency projects and those which reduce emissions e.g. incentivise/enable commuting by active travel (e.g. bike storage)

The Scheme is aligned with Government’s Net Zero climate change ambitions, by aiding businesses with tools to reduce their energy usage and lower carbon emissions, whilst also improving the Island’s environmental sustainability as outlined in the Island Plan.

Tim Johnston MHK, Minister for Enterprise commented: ‘The Business Emissions Saving Scheme has been operating for several years under previous guises, supporting a range of business energy efficiency projects on Island. However, it is important that the support offered by the Department continues to adapt and evolve, and following feedback from a business survey and recent increases in energy costs, we have relaunched the Scheme with a number of improvements aimed to help businesses to reduce their carbon footprint.

‘By providing this Scheme we are supporting the commitment from Government to reduce carbon emissions by 2050, whilst also encouraging businesses to become more financially sustainable through being more energy efficient, resulting in reduced energy costs.’

The changes, which come into effect from 1 October, include the requirement for businesses to undertake an energy audit before applying for the Scheme to determine the improvements required, with a grant of 75% of the audit costs available. The maximum loan value has also been increased from £20,000 to £100,000 depending on business size, along with a wider range of energy efficiency projects available including charging points and measures which reduce emissions and encourage active travel.

Further information regarding the Scheme as well as eligibility is available at iomdfenterprise.im/bess