Interest-free loan scheme helps schools make efficiency savings, says ESFA

An interest-free loan could help your school improve energy efficiency, reduce carbon emissions and lower energy bills, the Education and Skills Funding Agency (ESFA) has said.

The guidance comes after the launch of Salix Finance, a government-funded lender available to the public sector, including maintained schools, academies, and sixth form colleges.

Under the scheme, schools can take an interest-free loan to upgrade to more efficient technology solutions, such as LED lighting, modern boilers and improved insulation.

Better yet, there are no upfront costs and the loan is repaid entirely through savings made on energy bills.

If you were considering upgrades for your maintained school, now is the time to act. Salix has collaborated with the Department for Education to launch a new £25 million fund for schools looking to install energy efficiency measures.

Funding notices for academies, meanwhile, can be tracked here.

According to a recent case study, Waltham Forest Council is estimated to be saving around £525,645 annually as a result of investing £2.4 million in a range of energy efficiency measures across the borough.

For more information about the lender, click here.

For help reducing costs in your school, please get in touch with our expert academy finance team.

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