You could get up to 40% cashback when you replace your old commercial boiler. The Mayor of London is funding this unique offering for small and medium-sized businesses in the UK’s capital through his Cleaner Heat Cashback scheme. Businesses must meet specific requirements and go through an approved installer to be considered eligible for this scheme.
The beautiful thing about your boiler is that there’s nothing flashy about it. It does what the name suggests: it boils water. But this modesty can be deceptive. Because your boiler is actually at the heart of your business’s success. It sends piping hot water through your pipes and – just like a heart – keeps your business warm and healthy.
Unfortunately, boilers become inefficient as they age. They have to work much harder to circulate water and distribute heat. In the process, they use a lot more electricity too. This sends your energy bills up and produces harmful emissions.
But you probably already knew that. What many businesses often don’t know, however, is what this means in real terms. According to the Carbon Trust, your energy costs rise by about 8% with every 1Â°C increase in heating. So, if you have an inefficient boiler, you may not even see the increase in heat – only the rise in cost. Generating hot water is also responsible for 15% of fossil energy use in buildings. Plus, 40% of carbon emissions in London come from commercial sites.
You easily can see why it is vital that businesses operate as efficiently as possible. A lot of heat, electricity, and money is on the line. That is why the Mayor of London allocated Â£10 million to help small and medium-sized businesses in London save on their energy costs and make the capital’s air cleaner. Through the Mayor’s Cleaner Heat Cashback scheme, businesses in the Greater London area can now replace their ageing boilers and claim 30-40% cashback. Remember, if you replace your old boiler now, you won’t just save on your new appliance. You’ll see real savings on your energy costs as well.
The Carbon Trust says that a new boiler can save you up to 25% in heating costs. For instance, a new 200kW gas-fired hot water boiler could save you a minimum of Â£400 annually. It would also prevent 2.5 tonnes of CO2 from getting into the atmosphere. If you opt for a new 150 kW gas-fired condensing water heater, you could save well over Â£1,000 each year – and curb over 6 tonnes of CO2 emissions.
If you currently have a gas, oil or LPG boilers older than 10 years (with a minimum size of 70 kW), you can apply to the cashback scheme now. Coal or biomass boilers of any age are also eligible. For more detailed requirements, please visit the Mayor of London’s website.
Selected boilers may even qualify your business for a tax deduction under the Enhanced Capital Allowance (ECA) scheme. This means that you could write off 100% of your new boiler’s cost against your taxable profits in the year of purchase.
If you have questions about which boilers are on the ECA technologies list, don’t hesitate to ask. Our energy experts are happy to help.
The Mayor of London’s Cleaner Heat Cashback scheme is limited time only, operating on a first-come, first-served basis. So, if you are interested in this offer, check your eligibility now!