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The Industrial Energy Transformation Fund: Advancing Energy Efficiency and Decarbonisation

October 7, 2022 | Insights,

What are the benefits?

  • Reduce energy bills, emissions, and the investment risk of energy efficiency and decarbonisation technologies
  • Offset up to 50% of total investment value
  • Fund projects which wouldn’t otherwise be feasible
  • Reduce energy consumption amid a market of rising energy costs
  • Accelerate your journey towards low and zero-carbon operations

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What is the Industrial Energy Transformation Fund?

In 2020, the UK Government launched the Industrial Energy Transformation Fund (IETF) to support businesses to install energy and carbon reduction measures. It is a crucial part of the Government’s strategy for tackling climate change and reaching Net Zero by 2050.

The fund aims to support the transition of industrial processes to low-carbon solutions to reduce:

  • Energy bills
  • Carbon emissions
  • Investment risk

Key dates:

10th October 2022 –13th January 2023
Phase 2: Autumn 2022. For England, Wales and Northern Ireland, phase 2 opens on the 10th of October 2022 and runs until the 13th of January 2023.
To be eligible, projects must meet the following key dates:

  • Feasibility studies must start no later than the 1st of July 2024 and finish no later than the 31st of March 2025
  • Engineering studies must start no later than the 1st of July 2024 and finish no later than the 31st of March 2025
  • Energy Efficiency and Deep Decarbonisation Deployment Projects must start no later than the 1st of July 2024 and finish no later than the 31st of March 2025

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What funding is available?

Now in its second phase, the fund offers £289m to support businesses with high energy use to transition to a low carbon future through increased energy efficiency.

Successful proposals will be awarded grants that can cover 25% to 70% of costs depending on the type of project and business size.

  • Energy efficiency deployment projects can apply for grants of £100,000 to £14 million
  • Deep decarbonisation deployment projects can apply for grants of £100,000 to £30 million
  • Engineering studies can apply for grants of £50,000 (total eligible cost) to £14 million
  • Feasibility studies can apply for grants of £30,000 (total eligible cost) to £7 million

Phase 2 is worth up to £70 million in funding and will be available in the form of a grant scheme.

How can we support you with the IETF?

We work with clients to identify opportunities to implement energy-saving technology and support them in the process of applying for grant funding.

Anthesis provides project support across all stages of product development including data gathering, identification of opportunities, application for funding, agreeing the scope of work through to the installation of the solution.

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