Energy saving loans offer big savings

Charities, social enterprises and other organisations in the third sector could save 75% of their energy costs says Big Issue Invest.

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Big Issue Invest says charities, social enterprises and third sector organisations could save 75% of their energy costs.

According to Big Issue Invest, the social investment arm of The Big Issue, savings of 75% are achievable by replacing old lamps with LED lamps. Working with Energy Saving Lighting, the UK’s leading lighting design consultancy, Big Issue Invest has launched a loan scheme to help charities reduce both energy costs and their carbon footprint.

Speaking about the scheme, Christine Traynor, Big Issue Invest’s Regional Director in the North West said: “It is our mission to dismantle poverty and inequality by investing in business solutions to social and environmental challenges. This exciting new partnership will allow charities and social enterprises to fund energy saving measures which typically have a two or three year payback.

“There are no upfront costs for the organisation as these will be covered by the loan from us, and as anticipated savings cover finance repayments, the charity should never be any worse off.”

Working with ESL, organisations, large and small, have benefited from big savings by replacing existing lamps with LED lamps that fit into the existing commercial fittings. The LED lamps operate at a significantly lower wattage to traditional light bulbs – without a reduction in light output. With a typical LED bulb lasting around 50,000 hours (approx 10 years), not only do organisations save an average of 75% in electricity consumption but there is also a significant reduction in replenishments of bulbs and maintenance costs.

Says Christine: “With energy costs usually being the biggest operational cost after wages, Big Issue Invest is keen to provide financial support to organisations which could really benefit from a switch to LED.”

Call Big Issue Invest on 020 7526 3434 or email enquiries@bigissueinvest.com and mention Charity PR.