Opening up funding for renewable energy projects in your school
For schools looking to invest in reducing energy bills and renewable energy, access to finance often proves a major barrier. While other sectors can take advantage of opportunities such as loans, asset finance or hire purchase agreements, the options for educational premises are limited.
We can unlock the restrictions by offering energy efficiency and renewable energy improvements to schools and academies through an Operational Lease.
By making fixed annual rental payments we can lower your bills, reduce your carbon footprint or even generate much needed income through government grants such as Feed-in-Tariff’s and the Renewable Heat Incentive.
Through a flexible Operational Lease our solution provides energy efficiency improvements such as:
- Lighting upgrades including LED
- Boiler upgrades and replacements
- Heating controls upgrades and replacements
- Renewable energy installations including PV, Biomass, Wind etc.
How does it work?
We come and audit your premises and prepare a business plan free of charge showing the costs and benefits to your school.
We present this business plan to you and, subject to further discussion and negotiation, we prepare a rental agreement.
The agreed rental payments are balanced against your reduced bills, together with any Feed-in-Tariffs or Renewable Heat Incentive grants so your savings and income pay the rental.
We own and maintain the equipment on your behalf, and you make the agreed rental payments for the duration of the lease.
At the end of the lease, you can choose a range of options including:
- Simply returning the equipment to Norse Energy
- Continuing the rental, reflecting the fair market value of the equipment
- Replacing the equipment with more modern technology, further reducing your bills and improving your performance.
We can also be on hand to go through the options to help you decide.
The rental agreement
Our standard rental terms and conditions are in accordance with IFRS Accounting Guidelines. Norse Energy is also backed by finance from institutions which are members of the Financing and Leasing Association so you can be sure that your Operational Lease is compliant.