The Isle of Man Government’s ‘Business Energy Saving Scheme’ has recently relaunched, bringing in a ‘number of improvements’.

The initiative, which has been renamed the Business Emissions Saving Scheme (BESS), looks to aid businesses seeking to make positive changes through making their operations more energy efficient, reducing carbon emissions and lowering energy costs.

Taking on board feedback through a business survey and the ‘climate change transformation team’, the key features and improved changes to the BESS include:

Increased financial assistance available for eligible businesses ranging from £20,000 to £100,000 (Up to £50,000 for businesses of all sizes, £75,000 for businesses which have 10 to 25 employees and £100,000 for businesses which have over 25 employees) and support measures extended to include a wider range of energy efficiency projects and those which reduce emissions.

A spokesperson from the Government said: ‘The scheme is aligned with Government’s net zero climate change ambitions, by aiding businesses with tools to reduce their energy usage and lower carbon emissions, whilst also improving the island’s environmental sustainability as outlined in the Island Plan.’

Minister for Enterprise Tim Johnston commented: ‘The BESS has been operating for several years under previous guises, supporting a range of business energy efficiency projects in the island.

‘However, it is important that the support offered by the DfE continues to adapt and evolve, and following feedback from a business survey and recent increases in energy costs, we have relaunched the scheme with a number of improvements aimed to help businesses to reduce their carbon footprint.

‘By providing this scheme, we are supporting the commitment from Government to reduce carbon emissions by 2050, whilst also encouraging businesses to become more financially sustainable through being more energy efficient, resulting in reduced energy costs.’

The changes, which come into effect from Tuesday October 1, include the requirement for businesses to undertake an energy audit before applying for the scheme to determine the improvements required, with a grant of 75% of the audit costs available.

The maximum loan value has also been increased from £20,000 to £100,000 depending on business size, along with the availability of a wider range of energy efficiency projects including charging points and measures which reduce emissions and encourage active travel.

Further information regarding the scheme, as well as eligibility, is available at iomdfenterprise.im/bess