Business Energy Saving Scheme
The Business Energy Saving Scheme (BESS) offers 100% interest-free unsecured loan to all types of businesses seeking to make their operations more energy efficient and lower their energy costs.
Benefits
- 100% unsecured interest-free loans
- Recently extended eligibility criteria
- Fast-track options available
- Simple payback process; loans are repaid over the period as the energy costs savings are made to the business
Features
- 100% interest-free unsecured loan towards the cost of energy efficiency projects
- Financial assistance starting from £1,000 up to £20,000 per project
- Five year payback period
- Fast-track application process for loans under £5,000
- Applicants can also complete a Business Improvement Scheme Environmental Efficiency project
Types of projects covered
A wide range of energy efficiency projects are eligible for support, including the following:
- Energy efficient lighting systems e.g. LEDs and CFLs
- Lighting controls
- Energy efficient heating systems
- Heating controls
- Insulation upgrades
- Heat recovery systems
- Pipe insulation
- Solar heating systems, including solar panelling
- Wind turbines
- Electric Vehicle (EV) charging points
Eligibility
All applicants must complete an Application form, along with:
- 3 supplier quotes
For applications under £5,000:
- Executive summary of the business
- Latest annual accounts
For applications over £5,000:
- Full business plan
- Last 3 years financial accounts
Want to confirm your eligibility?
Complete our business enquiry form to confirm your eligibility and find out more about the support available.
Looking for more?
The Department for Enterprise offers a range of funding and support schemes for businesses and self-employed individuals in the Isle of Man. You'll find a full list by clicking below.