A £50m tranche of funding made available to private and public sector companies seeking to install energy saving solutions in the last quarter of 2013 has been completely allocated.
The £50m was made available for leading voltage optimisation manufacturer EMSc (UK) to administer to companies implementing efficient, effective and reliable technologies that are proven to deliver a return on investment within a five-year period. EMSc (UK) received over 1,300 applications for the funding.
Voltage optimisation was one of three technologies identified, together with LED lighting and variable speed drives (VSDs), that have been proven to provide the highest energy savings and payback, as identified in reports prepared by the NHS Sustainable Development Unit and St Georges University.
Key analysis from both reports is outlined in a document prepared by McKinsey & Company – version 2.1 of the ‘global greenhouse gas abatement cost curve’. The document pinpoints the top three technologies best capable of reducing carbon emissions across a range of different sized sites, as being Voltage Optimisation, LED lighting and variable speed drives (VSD’s).
The resounding success of the scheme demonstrates the demand within the public and private sector for these three technologies.
Funding requests for voltage optimisation were particularly strong. The technology is well documented as being a secure energy saving solution, with plentiful reference projects and transparent savings results across a wide range of industries – from retail to finance, to education and healthcare. Voltage optimisation provides one of the best payback periods and some of the best energy savings, which can average between 12% and 15%.
Dr Alex Mardapittas, managing director EMSc (UK) commented, “We are pleased that voltage optimisation has been confirmed in a number of highly prestigious reports as one of the best technologies to install for achieving energy savings.”
Dr. Mardapittas added, “As a company that manufactures all its products in the UK, we place great emphasis on supporting UK businesses. The publication of these prestigious reports was an ideal opportunity to secure the interest free funding. It provided UK organisations with the opportunity to take advantage of the three technologies, during tough economic times. It will allow their projects to become cash positive from the outset through the interest free funding. We will be seeking more funds to continue with the scheme in 2014.”
All projects that received the funding were commissioned though EMSc (UK)’s engineering led project management approach. The team was able to work with the companies from the outset, to identify the best solutions and maximum savings for their site as well as ensure all the projects were implemented within specified parameters.