Banks do not provide proper support for businesses investing in energy efficiency, report claims
Banks and other financial lenders do very little to support businesses wishing to invest in energy saving projects, fresh new research from Siemens Industry and the Energy Institute can reveal.
In fact, the survey of more than 300 senior energy specialists across the UK suggested that close to 88% of all businesses who applied for funding in order to implement some sort of energy saving measure had quite a negative experience, while just 1% managed to secure the necessary financial investment from a bank to help cover the cost of energy saving technologies.
Furthermore, half (50%) received little feedback to their proposals, with a further two in five businesses (38%) saying their bank was not at all interested.
Louise Kingham, Chief Executive of the Energy Institute added: “Financiers need better knowledge around technology risk and return in different applications; signposting and access to good information for companies is a must; as are the skills to install, operate and maintain technology to deliver value from such investment.”
Energy efficiency investments can be a potentially lucrative field for any lender, due to the fact that return on investments are guaranteed, especially when linked directly to the energy savings companies will be able to attain on the future.
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