The Scottish Government's Community and Renewable Energy Scheme is now open for application. This fund offers a range of financial support to local energy projects, including to rural businesses and SMEs in rural areas.
The main funding streams for new applicants are:
- CARES Enablement Grant – Up to £25K where the value of the grant will be capped based on innovation or scheme complexity and can be used to fund feasibility for energy systems or renewable energy projects, investigation of shared ownership opportunities or work to maximise the impact from community benefit association with renewable energy projects.
- CARES Development Loan – Up to £150K (10% interest rate) can be provided for projects with a reasonable chance of success. The loans can include a write-off facility that allows development risk to be mitigated by allowing the applicant to apply to change the loan to a grant should the project be unable progress.
- CARES Innovation Grant – Up to £150K to either fund innovation activity or improve the viability of projects by grant funding elements of the project.
Full details can be found at: https://www.localenergy.scot/funding