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Reducing energy costs can make a real difference to a business, but the upfront cost of making those changes can sometimes be a barrier.
That was the challenge for Sheffield-based Cutting & Wear when the business began looking at installing solar panels. Cutting & Wear manufactures drilling tools and consumable products for oilfield and workshop use. The team could see the potential for long-term savings from solar energy, but the initial investment was significant.
“We were looking at the payback, and the cost of initially putting in the solar panels was quite an investment.”
When Cutting & Wear began exploring solar panels, they already knew where to turn for advice. The business had received support from Business Sheffield before and had a dedicated Business Information Officer they could speak to as their needs changed.
So, when the team started looking at solar panels, they got back in touch to talk through their plans and find out what support might be available.
With support from Business Sheffield, Cutting & Wear explored their options and secured a £30,000 Low Carbon Grant towards its solar investment.
The solar panels generate enough energy to cover Cutting & Wear’s overall energy use. More importantly for the business, its monthly energy costs have fallen by around 40% monthly.
“It has reduced our energy cost by about 40% in the month. It’s definitely helped with our long-term sustainability and cost.”
The savings are also helping Cutting & Wear reduce its overheads and free up money that can be invested back into the business.
The team expects the investment to pay for itself in just over four years. With the solar panels expected to last around 25 years, the business could continue benefiting from the investment for many years after the initial cost has been recovered.
“The impact on the business has reduced our overheads, given us more freedom to invest cash in the future. The payback is just over four years and the solar lifespan is 25. So we’re still generating savings for a long time into the future, which will help future investments.”
For Cutting & Wear, getting support with the funding process was also important.
“Our experience with working with Business Sheffield has been great. They couldn’t do enough to help us. It was very straightforward. They explained everything and made it as pain-free as possible.”
Hear directly from Cutting & Wear about the difference the Low Carbon Grant and solar investment have made to the business:
If your business is looking at ways to reduce energy use and lower ongoing costs, the Low Carbon Grant could help make that investment more affordable.
Get in touch with Business Sheffield to find out more: Local Growth Fund Low Carbon Project | Sheffield City Council
Cutting & Wear received £30,000 through the Low Carbon Grant to invest in energy-saving improvements, helping the business reduce its monthly energy bills by 40%. Watch their story to see how the funding supported the changes and the difference it has made to the business. Find out more about the Low Carbon Grant and support available through Business Sheffield. https://www.sheffield.gov.uk/business/business-support/local-growth-fund-low-carbon-project