By Victoria Brenan

Last updated at 12:26, Thursday, 31 January 2013

A solar panel company has been signed up as a supplier for a £550m business energy scheme.

Solarlec, which has bases across the north west including Carlisle, has been named an approved supplier for the Siemens Energy Efficiency Financing Scheme which aims to cut business energy bills by 75 per cent.

The scheme works by Siemens funding the installation of energy efficiency products and leasing the system to the business.

The government then subsidises schemes such as the Renewable Heat Incentive pay towards the lease payments until the business owns the system outright.

A spokesman for the company said businesses could enjoy the benefits of a long-term investment, without the capital outlay.

“The system will cost the businesses very little – if anything at all – to install,” he said. “They will continue to enjoy the long-term financial benefits of their system, as government subsidies continue inflation proofed for a 20-year period.”

Solarlec is expecting thousands of UK businesses to sign up to the scheme.

Director Nick Keighley said: “It’s a financial no-brainer and we expect huge take-up from a diverse range of businesses – particularly schools and colleges.

“Not only does it make great business sense but it helps businesses reduce their carbon emissions too. The fund is limited to £550 million and it will be allocated on a first come, first served basis so we urge businesses to make the most of this limited opportunity before it’s too late.”

For more information see www.solarlec.com/previous/installations/Carlisle or call 0800 022 4083.

Founded in 2001, Suntech is the largest global manufacturer of silicon solar modules and distributes its products to more than 80 countries worldwide.

First published at 12:25, Thursday, 31 January 2013
Published by http://www.newsandstar.co.uk