Helping SME’s create energy efficient businesses
“Our role in the Q-Energy Project will ensure energy efficiency is not only financially viable, but the most cost-effective part of any business plan.”
Ask Inclusive Finance (AskIf) will be partnering with Qbots energy on the Q-Energy project, a landmark programme with an aim to develop a platform which will improve energy efficiency across the UK’s 5.9m SMEs. With research showing SMEs are currently responsible for over 50% of business energy use, it is hoped the project will kickstart the decarbonisation of the sector and bring the UK’s zero carbon goals closer.
The Q-Energy tool and business model will accelerate the uptake of energy efficiency investment measures into SMEs – helping to address some of the key market failures and barriers faced by SMEs surrounding energy and decarbonisation. Often these are a lack of understanding about the offering, lack of time, lack of trust in suppliers, lack of economies of scale, high upfront capital costs and difficulty accessing finance.
AskIf will use this project to further our ambition to ensure that every creditworthy start-up and SME in the UK are able to access the funding and help they need to achieve their full potential, supporting sustainability in the process.
We will adapt our lending platform to incentivise new and existing customers to extend investment in order to undertake energy efficiency investment, and to fund referrals from Qbots Energy.
Talking on the project, AskIf Founder and CEO, Sam Bamert commented: “This is such a fantastic initiative addressing a problem all SMEs struggle with. The financial implications of creating an energy efficient business are often too much for start-ups who have a lot of other factors to consider. The Q-Energy project will help future-proof businesses, providing a range of support that will ensure energy efficiency is not only financially viable, but the most cost-effective part of any business plan.”
The Q-Energy project has been made possible following a second round of funding awarded to the Q-Energy Project by the Government-run Boosting Access to SMEs Energy Efficiency competition (BASEE).
The BASEE competition is part of the Government’s Clean Growth Strategy, which aims to increase business productivity by enabling businesses to improve their energy efficiency by at least 20 percent by 2030. According to statistics, this will deliver up to £6bn in cost savings for businesses, and carbon savings of up to 22 MtCO2e.
For further information on the project or how you can get involved, please contact Louis Heywood, Qbots Energy, Project Manager for the Q-Energy Project at [email protected], 07713 242 625.