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s UK legislation
A aiming to reduce carbon emissions focuses on increasing the energy efficiency of buildings , heat pumps provide a viable alternative to conventional oil , gas or electricity powered heating . The Energy Efficiency Regulations 2015 require that from 1 April 2018 privately let commercial and domestic properties meet a minimum energy efficiency standard . Landlords must ensure that their properties achieve an Energy Performance Certificate ( EPC ) rating of at least grade ‘ E ’ before granting a lease to new or existing tenants . This rating is based on the assessment of a building ’ s impact on the environment in terms of CO2 emissions . Buildings account for 37 percent of total UK greenhouse gas emissions , with direct emissions due to the burning of fossil fuels for heat comprising almost half ( 45 percent ) of this figure . Increasing the energy efficiency of space and water heating systems in properties therefore has the potential to contribute significantly to the UK ’ s carbon targets . Against this backdrop , renewable heat generation technologies such as air and ground source heat pumps offer a sustainable option to decrease the environmental burden caused by heat production in buildings . In 2014 , the reduction of CO2 emissions from heat pump stock in the UK amounted to 0.47 megatons ; though the savings potential for the same year may have been much higher . The European Heat Pump Association
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estimated a potential reduction of just under 20 megatons in CO2 emissions if heat pumps were used more broadly . Indeed , an improved energy rating is not the only benefit of renewable heat generation . Air and ground source heat pumps generate 3kW of heat output for every 1kW of energy input , which means they have the potential to supply more power than they consume . As a consequence , they harbour significant potential to reduce spending on electricity and fuel . Replacing conventional electric or central heating with air source or ground source heat pumps can thus be a cost-effective means of delivering heat with low or zero greenhouse gas emissions .
As convincing an argument as this might be , in a financial and environmental sense , acquiring the necessary funding for the installation of renewable heat generation technologies can be a
challenge for landlords . Financing solutions designed to make renewable technology affordable therefore provide an opportunity for heat pump suppliers to unlock business opportunities and create sustainable value for their customers .
One such example is Energy Financing from Siemens Financial
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Services Limited ( SFS ). With the aim to provide alternative financing for organisations looking to acquire energy efficient , green equipment or technologies , SFS Energy Financing makes a practical connection between the expected savings in energy costs and / or income from energy generation to the financing arrangement ’ s monthly payments . Effectively , through SFS Energy Financing , organisations can benefit from a financing solution that can make the investment zero net cost or even be cash positive if the savings are greater than the monthly financing payment .
This helps landlords make carbon-friendly investments since SFS Energy Financing provides customers with an affordable alternative to outright cash purchase . The convenience of combining technology and finance removes the need to seek funding for equipment acquisitions externally . As payments can be customised to suit each client ’ s requirements and budgets , suppliers can focus their efforts on providing the best solutions without customers ’ capital budget restrictions . They also benefit from improved cash flow as payments for
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the financed installations are typically made by SFS direct to suppliers within 24 hours of receiving correct documentation . By helping remove the financial obstacle to acquisition , suppliers of renewable heat generation technologies secure themselves a competitive advantage to close deals faster .
The use of air and ground source heat pumps can be an attractive option to cut a building ’ s running costs , energy consumption and carbon emissions . Installing renewable heating technologies has the potential to not only deliver financially in the long run but also make an important contribution to achieving the 2050 climate change targets .
As energy efficiency requirements become more demanding , heat pump suppliers can help facilitate necessary investments through the offering of a solution that incorporates the best-in-class technology with an affordable financing plan . In doing so , they are also in a position to distinguish themselves from their industry peers by providing their customers with an added value that goes beyond technical expertise and equipment knowledge .
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8 | www . renewableenergyinstaller . co . uk |