If you’re interested in trying the tool, visit our Energy Help and Support page.
One business which has benefitted from our solar-energy support is South Coast Building Supplies Ltd, a building supply firm with 85 employees in four locations in and around Southampton.
The company’s Managing Director, Tim Payne, says: “Our relationship manager suggested that the bank could help us manage our carbon footprint better. We had a few online sessions and one of the things we found especially interesting was solar panels.”
Tim says he had a quote within 24 hours from our partners, Absolar, and after securing financing from Lombard for the project, he had panels installed at two of the company’s sites.
“It was primarily a financial decision,” says Tim. “We are mindful of the environment, but solar is reducing our overheads every month, which is significant for us.”
Tim says the business saw a saving of £1,700 in electricity costs at one branch in the first month the panels were installed, and now he’s looking to fit panels in a third location.
“The overall experience has been very positive,” Tim says.
Relationship Manager Henry Bragginton says: “It’s great to see South Coast Building Supplies utilising our bank’s resources, not only for financing, but to help reduce their carbon emissions and make cost savings.”
Royal Bank's Energy Help and Support tool guides businesses through a series of simple steps, which helps us identify energy-saving opportunities in your area.
Our tool could help your business:
The support is particularly aimed at small to medium sized businesses (SMEs), which account for around 30% of the UK’s emissions, according to Royal Bank's Springboard to Sustainable Recovery Report.
The report found that with the right support, up to 70% of business cases to reduce emissions will make financial sense by for SMEs to deliver by 2030.
Our Head of Business Banking, James Holian, says: “From our own research we know that most businesses stand to benefit financially from reducing their carbon footprint, but many lack the support needed to make sustainable changes.
“This new tool takes away the guesswork by offering businesses tailored recommendations to improve their premises’ energy efficiency.”
Find out more about financing your business’ sustainable transition at Sustainable finance | Royal Bank of Scotland.
*Security may be required. Product fees may apply. Business use only. Subject to status, eligibility and approval.
