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Sheffield UK Shared Prosperity Fund Low Carbon Project

The UK Shared Prosperity Fund (UKSPF) is a three-year UK Government funding stream that replaces European Structural and Investment Funds. The South Yorkshire UKSPF allocation totals £46.2m. South Yorkshire Mayoral Combined Authority (SYMCA) will administer UKSPF for South Yorkshire’s four local authority areas. The Fund aims to improve pride in place and increase life chances across the UK by investing in communities and supporting local businesses, people, and skills.

What eligible businesses will receive?

One-to-one support from a specialist advisor

Sustainability expert will guide you through every stage of the process.
- Help you understand your energy usage and identify where you could save energy
- Refer you for an energy audit or prepare a bespoke sustainability plan
- Support you in developing and delivering a plan for your energy-saving improvements
- Support you to understand your options for funding improvements, including whether you could be eligible to apply for a Low Carbon Grant
- Signpost you to other sources of support available to help you reduce your carbon footprint

Carbon Survey

Free carbon survey of your business to establish how much energy you use now and how you could save energy.

The report will identify energy-saving improvements the business could invest in and provide a detailed breakdown of the carbon saving, cost, and return on investment so you can decide the right path to take.

Low Carbon Grants

The project includes a grant scheme through which businesses can apply for a financial contribution towards eligible costs of one or more energy-saving interventions.

Eligibility

To be eligible to take part in the scheme, your business must:

  • Be a Small or Medium Enterprise (SME), meaning 250 employees or fewer with a turnover of less than £36 million
  • Have commercial premises in Sheffield (the scheme cannot support home-based businesses)
  • Not have received more than £315,000 Minimal Financial Assistance subsidy over the last three years (contact us to discuss this if you’re not sure)
  • Be able to provide 12 months’ energy bills to establish baseline energy use (or however many months you’ve been on your premises if less than 12 months)

 

About the grants

As part of the Low Carbon scheme, businesses can apply for funding towards eligible interventions identified in their carbon survey.
The grant will part-fund interventions, with the business making up the rest.
For projects costing up to £24,999, you can apply for a 50% grant contribution of £12,500.
For projects costing more than £25,000, you can apply for a grant contribution of between 10% and 50% of the project cost.
The minimum grant you can apply for is £1,500 (for a project costing £3,000).

UK Shared Prosperity Fund Low Carbon Project

Eligibility for grants

To qualify for a grant through the project:

  • The measure must be identified in a carbon survey (recipients of Energy Audit reports delivered through the European Regional Development Fund (ERDF) funded Low Carbon Business Support project are eligible to apply if you did not receive a grant through that project)
  • The investment you are applying for funding towards must be a capital project with a return on investment of more than one year – we can’t fund working capital or operational costs
  • The interventions must deliver a net carbon reduction
  • Your business must not have previously received an ERDF Low Carbon Grant
  • The investment must be set to be completed by December 2024
  • Tenants must have the permission of their landlord to make changes to the building’s fabric
  • Cannot fund electric vehicles

Get in touch and find out how we can help you with the Sheffield UK Shared Prosperity Fund Low Carbon Project