Posted on 01 February 2014 by Vicky Ellis
The banks RBS and Natwest are now offering energy audits to businesses which want to find ways they can save energy as well as loans to install energy efficiency products.
RBS reckons businesses could save thousands of pounds after it ran a pilot scheme in the north of England. It said this week the audits and loan will be rolled out across the country.
More than 60 businesses with an annual energy spend of between £10,000 and £200,000 a year took part in the pilot and RBS said they should end up saving an average of £23,000. Half (50%) of firms taking part were manufacturing businesses.
Audits will look at how firms can save money on energy usage, change lighting or get insulation and could even just be showing firms they’re on the wrong tariff.
Ian Burrow, Head of Agriculture and Renewable Energy for Commercial Banking at NatWest and RBS said: “The audits look at the behaviours of businesses from helping them tackle the small things like encouraging staff to switch off lights and appliances, as well as implementing energy saving initiatives such as better insulation and equipment to regulate energy flow into buildings.”
The cost of the audit will depend on the size of the business. Loans are separate and a business could have the loan without the audit via RBS’s audit business Mentor.
A survey of more than 600 SMEs carried out by the bank at the end of 2013 showed that although 85% of businesses agree the rise of energy costs is a concern, less than a quarter carry out regular reviews of their energy.