Litelite can offer multiple finance options on behalf of our independent providers who specialise in green initiatives, covering the entire cost of the lighting products and installation with repayments being made from the savings achieved. This is designed to help business and home owners to employ more green technologies in their properties. The idea is simple; install new green technology into your property with no up-front costs. You will pay back the costs through your energy bill’s savings over 2 to 5 years.
You will see the benefit from our new environmentally friendly, highly efficient and low energy lighting technology instantly. The energy savings from installing our lights could be significantly greater than the repayments, giving you a cash surplus. The repayments are arranged over an agreed period of time (2 to 5 years) and are 100% tax allowable which lets you budget effectively with complete assurance of knowing the costs throughout the contract.
During the contract period you can upgrade or add extra equipment without any penalty, we just simply revise your contract. This will allow you to take advantage of any new lighting technology that comes available ensuring you have access to the latest products and savings.
Enhanced Capital Allowance (ECA)
The Enhanced Capital Allowance (ECA) scheme is a key part of the Government’s programme to manage climate change, and is designed to encourage businesses to invest in energy-saving equipment.
Key features of the ECA scheme
- Open to all businesses that pay UK corporation or income tax, regardless of size, sector or location. (Loss making businesses may apply against income tax payments)
- Provides 23% capital allowances on investments in energy-saving equipment against taxable profits of the period of investment
- Only spending on new and unused energy-saving equipment can qualify for ECAs
- Capital allowances are available for spending “on the provision of” plant and machinery. This can include certain costs arising as a direct result of the installation of qualifying plant and machinery such as; transport of the equipment to the site, and some direct installation costs. Please refer to the ECA website for more information
The programmes operated by Salix have benefitted clients throughout England covering schools, local authorities, NHS, Further and Higher Education institutions, police and fire services.
- The interest free loans, repayable over a 4 year period, provided by Salix totalled c £93m.
- Some 454 clients undertook projects.
- This has resulted in 2,230 energy efficiency projects being undertaken over the last 2 years.
- Annual energy savings of £27m and 159,000 tonnes of annual CO₂ savings have been achieved.
- The outcome from this has been the achievement of lifetime energy savings of £396m and 2.265m tonnes of lifetime CO₂ savings for public sector organisations throughout England.
- Most projects have realised an average payback of 3.5 years enabling public sector bodies to benefit from the savings at an earlier stage.