With the on-going, global environmental pressures, finding plant and machinery which reduce emissions and/or use less energy can be difficult for procurement managers. Saving money and reducing energy through the products listed on the Enhanced Capital Allowance (ECA)* can make a difference to businesses, plus will make a difference to the environment.
Sourcing the right product
Finding the right plant and machinery to suit your business and customer, whilst ensuring it complies with the latest regulations, and supports current government goals, can be time consuming and a longer process than most want it to be. However, with the Government’s Energy Technology List (ETL), the job has been made easier. The ETL has been independently verified to include the top 25% of most energy-efficient products in the UK, which help the environment by using less energy or producing less emissions.
You can claim back on each energy-saving product you purchase off the ETL, allowing you to make extra savings on top of the savings the product may already provide (such as reduced fuel costs with Trime LED mobile lighting towers). This scheme has been used by businesses across the UK, and has captured around £100 million a year in accelerated tax relief. The ETL list has also resulted in a massive reduction of CO2 since 2001: approximately 88 million tonnes.
This is simple process, as long as you are paying corporation tax and have purchased a product listed on the ETL. This scheme also supports other government energy-efficiency policies, such as the Energy Savings Opportunity Scheme (ESOS) which is aimed at large companies requiring them to endorse on cost-effective products.
There is a long list of benefits from purchasing eco-friendly plant and machinery too. Reducing your fuel costs, reducing emissions, reducing noise, reducing maintenance costs… the list goes on. Eco-friendly products do look particularly attractive to customers who want to be environmentally-focused in their shopping habits. Having this great competitive advantage ensures that you benefit, your customer benefits and the environment does too.
Carbon-reducing, or even carbon-free, products can reduce your fuel costs, ensuring there is more cash to be invested elsewhere. But having this benefit means that you save time by not refuelling as often, plus maintenance costs become lower as the product is longer-lasting and reliable.
Trime lighting towers have been manufactured with the environment in mind, reducing emissions, fuel and noise. This has meant that they are listed on the ETL, allowing you to claim on each lighting tower you purchase.
If the ECA is something you are interested in, and are wondering how it will benefit you – get in contact with a member of the Trime team here.
*The ECA is set to end in April 2020. Please get ahead of the game and order your energy-saving, emission reducing products before it is too late!