The Scottish government revealed far-reaching novel strategies to increase the use of renewable fuel in electricity, transport and heat across the country, under its first ever Energy Strategy. Business, Energy and Innovation minister Paul Wheelhouse said in a statement:
“This strategy recognises and builds on our achievements to date and on Scotland’s capacity for innovation. It places consumers, and their interests, more firmly than ever at the heart of everything that we do. We are leading the way in promoting community and locally owned renewable energy – well ahead of the rest of the UK – as figures announced today demonstrate. This strategy will guide decisions of the Scottish government over the coming decades. We want to make sure, within the scope of our devolved powers, good stewardship of Scotland’s energy sector – something we have called the UK government to step up to for years.”
The Strategy sets a new objective for at least 50% of all Scotland’s heat, transport and electricity consumption to be supplied from renewable sources by 2030. Another target set by the Scottish government is a 30% increase in energy productivity across the economy. To drive advancement towards the new targets, the Scottish government promised £80m fresh investment in the energy sector – £60m for low-carbon innovation and £20m for energy investment, coupled with, a confirmation for a publicly owned energy company.
Scotland’s first Energy Strategy was published on the 20th December 2017 and details can be found here – http://www.gov.scot/Resource/0052/00529523.pdf
GREBE’s Funding Options tool provides information on the funding mechanisms currently available in the partner regions (Finland, Iceland, Ireland, Northern Ireland, Norway and Scotland). The information will be useful to both funding agencies (e.g. business support agencies and municipalities) and to SMEs giving details of funding options available in their regions. The tool will help to ensure that funders in the different regions can learn about mechanisms and implementation strategies in use in other parts of the NPA area.
The main focus is on public support for renewable businesses but both private sector and social investment options have been included where appropriate. The supports included are for SMEs and Micro businesses but also include options for those SMEs expected to grow rapidly (e.g. High Potential Start Ups). The business support funding mechanisms considered vary from standard ‘hard’ business support options (e.g. loans and venture capital) to softer supports (e.g. innovation schemes, business partner search supports etc.). Options are available to search for mechanisms which are specific to the renewable energy sector, and also based on the geographical area (local, region, national, EU etc.) the support covers. There is considerable variation in the ways different funding options are implemented and these differences will impact on the success of schemes.
Renewable businesses in each region will be able to check what supports are available in their own region and contact points for applications. GREBE’s Business Supports Catalogue is also available to download on the tool. We hope that by using this tool those who seek funding and support for renewable businesses will have a clear portfolio of options which are available to them. This tool is available on our renewablebusiness.eu platform at http://support.renewablebusiness.eu/
The GREBE Project has published a report based on case studies on the awareness and understanding of funding for renewable energy businesses. The report can be downloaded from the GREBE Website here
The key objective of this report was to identify and promote opportunities for policy to provide an effective supportive framework for sustainable renewable energy business (both new and emerging). The focus of this report was on the support and benefits that each case study received, including how the supports and benefits helped each business in terms of creating employment, finance or diversifying their business. This report examines the funding mechanisms, criteria, application practicalities and business outcomes and innovations in the case studies.
When carrying out the report, the most popular funding mechanisms available to the renewable energy businesses were research & development supports and also financial supports. In Ireland one company received a support towards creating employment through the JobsPlus scheme. JobsPlus is an employer incentive which encourages and rewards employers who offer employment opportunities. On the other hand support mechanisms such as social support, were not as popular throughout the partner regions.
Through analysing the chosen case studies, Finland, Iceland and Scotland have a number of different funding mechanisms were available to companies for certain types of projects, whereas in Northern Ireland only one type of support was available for certain projects.
All of the funding supports discussed throughout this report can be found in the GREBE business support catalogue at: http://grebeproject.eu/wp-content/uploads/2016/10/GREBE-Business-Supports-Catalog.pdf
The full report can be viewed at: http://grebeproject.eu/wp-content/uploads/2017/09/GREBE-Report-on-Awareness-Understanding-of-Funding-Options-August-2017.pdf