How Can Your Business Benefit from the ECA Scheme?
Are you looking for ways to help your business become more energy efficient to reduce its overall carbon footprint, whilst saving money at the same time? If so, then you may benefit from the ECA scheme. This is a government run scheme that incentivises businesses to invest in energy efficient equipment.
In this blog, we’ll discuss this in more detail, telling you what you need to know regarding ECA and the equipment that you could invest in that will not only be useful to your business, but could qualify you for this scheme and save you money.
Read on below to learn more.
What is ECA?
The Enhanced Capital Allowance (ECA) scheme allows your business to qualify for tax enhanced tax relief on equipment that has environmental benefits, thus encouraging businesses to invest in low carbon, energy saving equipment.
The government has chosen to incentivise businesses in this way in hopes that it will contribute to the UK-wide environmental targets of becoming net-zero by 2050. This form of tax relief works by allowing the full 100% of investment costs for any qualifying equipment to be written off against taxable profit in the year that the investment is made.
What Counts as Qualifying Equipment?
On the government’s website, there is a full Energy Technology List (ETL) that lists the qualifying products and manufacturers that qualify for the scheme. This list includes HVAC units.
Of course, there are more items on this list than the one we've just mentioned, however it is HVAC units that many businesses will especially benefit from. Whether your business premise is an office, commercial store or hospitality property, all of these benefit from air conditioning units. In fact, it is likely that you already use some form of air conditioning and/or heating already to keep both your staff and any customers comfortable.
However, it could be that your current air conditioning unit is not as efficient as it could be. Perhaps it came with the building and is over 10 or even 20 years old, or maybe you have a heating system for the colder months and simply rely on a portable air conditioning unit for the few months of heat we get in the summer, all of which have low energy efficiency compared to modern HVAC units.
If this is the case for you or you don’t even have an aircon unit in the first place, then you would benefit from an aircon installation that could be offset using the ECA scheme. On top of this, HVAC units not only cool your building, but have the ability to heat it also, meaning you would have a two in one system that is usable all year round!
HVAC Contractors
If you’re looking for a company that can supply you with ECA qualifying HVAC units, then you need Westcott Air Conditioning, the air conditioning experts in Coventry.
We provide energy saving and water efficient equipment that satisfies the criteria of the ECA scheme and are able to carry out the necessary aircon installation for you once you have found the ideal unit for your business.
Get in touch with us today to find out more information regarding ECA and how we can help you save your business money with efficient air conditioning solutions.
