Charities and social enterprises, especially those based in disadvantaged areas, struggle to find investment for energy resilience and to make the transition to Net Zero. Organisations have different reasons why they wish to undertake energy resilience measures, for example reducing carbon emissions, achieving energy cost savings, upgrading energy efficiency ratings to meet future regulations, increasing use or comfort of buildings, or replacing older vehicles and equipment with modern energy efficient versions.
To help organisations bolster their energy efficiency, Social Investment Business has joined up with Big Issue Invest, Charity Bank, Co-operative and Community Finance, GMCVO, Groundwork UK, Key Fund, Resonance, The Architectural Heritage Fund and The Ubele Initiative to launch the Energy Resilience Fund. The fund is initially worth £15m, funded by Better Society Capital, Access – The Foundation for Social Investment, and Social Investment Business Foundation. Weil, Gotshal & Manges LLP have provided pro-bono legal support.
Applications opened today, Wednesday 6th November, and charities and social enterprises which are based in England, deliver social and environmental impact, and which want to improve their energy efficiency are encouraged to apply here.
Eligible organisations can apply for blended funding of between £25,000 and £250,000 to install energy saving measures or energy generation technology to buildings or land (including new builds), and/or to purchase energy efficient or environmentally friendly vehicles or equipment. Organisations can find out if they are eligible to apply here.
The Energy Resilience Fund could pay for a range of energy efficiency measures, for example, energy efficient lighting systems, insulation upgrades, glazing upgrades, small scale wind turbines, solar PV panel systems, battery storage systems, solar water heating systems, heat pumps and electric vehicles. The funds could also be used to pay for a wide range of related costs including capital costs, labour costs, project management costs, revenue losses and contingency. Organisations can find further information on what funding can be used for here.
The funds could be used for a wide range of interventions (but is not limited to):
- Energy efficient/saving lighting systems.
- Insulation installation/upgrades.
- Glazing upgrades.
- Small scale wind turbines.
- Low head hydro systems.
- Solar PV panel systems.
- Battery storage systems.
- Solar water heating systems.
- Heat pumps or other forms of energy efficient heating systems (including gas boiler upgrades).
- Electric vehicles.
- More energy efficient equipment.
To find out more visit the Social Investment Business website.