How to fund your school's new boiler installation
When we conducted a survey to find out the issues schools are having to address when it comes to their heating, one statistic in particular underlined just how challenging the procurement of new boilers can be. Over a third (39%) told us that finding the funds for replacement equipment is the most problematic issue when it comes to resolving a heating system breakdown.
It is clear that access to funding is vital for schools looking to overhaul their heating and hot water system. So what are the options available?
Salix Finance Ltd. provides interest-free Government funding to the public sector to improve energy efficiency, reduce carbon emissions and lower energy bills. Salix is funded by the Department for Business, Energy and Industrial Strategy, the Department for Education, the Welsh Government and the Scottish Government and was established in 2004 as an independent, publicly funded company, dedicated to providing the public sector with loans for energy efficiency projects.
The Schools Energy Efficiency Loans Scheme allows maintained and grant aided schools to apply for an interest free loan to finance up to 100% of the costs of energy saving projects.
Schools are able to apply direct to Salix for loan funding, or for those schools funded through Local Authorities, the Authority is also able to apply on their behalf.
In total, Salix supports over 120 energy efficient technologies, including replacement condensing boilers, replacement combination boilers, and associated control systems.
Bosch & Hitachi Capital
Thanks to our new partnership with Hitachi Capital (UK) PLC, a range of finance packages are now available to those looking to fund the installation of a new heating and hot water system.
The finance options, which can be tailored to meet the needs of privately or publicly-funded organisations*, offer an alternative solution for those either unable to fund major works from cashflow or preferring to spread the cost over a number of years.
Perfect for those eager to minimise CAPEX, each tailored finance package allows schools to unlock and accelerate projects which may have otherwise been delayed.
Not only does a finance arrangement give schools the opportunity to fast-track a project, it also allows them to finance the total installation cost, including:
- Ancillary costs, invoiced up front
To find out how Bosch & Hitachi Capital may be able to help your school to overcome the challenge of funding a new boiler installation, register your interest via the link on the right or call 0330 123 3004.
For a more in-depth look at the considerations that need to be made when investing in a new heating system, our new report is a good place to start. 'Out of sight, out of mind? A report on the heating and hot water challenge in UK schools’ is available to download via the link on the right.
Pete Mills, Commercial Technical Operations Manager at Bosch Commercial and Industrial
* Your ability to enter into a finance agreement may be subject to approval from the Department of Education/Secretary of State. Terms and conditions apply.