The costs of doing nothing on sustainability are greater than the costs of action – but planning for funding now could help your NHS trust to get ahead
The dual challenges of cost and carbon reduction are impacting organisations everywhere. The NHS, which aims to become the world’s first net zero national health service, is no exception to this.
Investing in sustainability can be costly. You may already be contending with a squeezed budget and conflicting priorities. Transitioning to net zero could further complicate your future planning, at a time when achieving a strong financial performance is a top priority for healthcare providers.
But the costs of doing nothing are greater than the costs of action. For many NHS trusts, the right energy technologies could reduce their long-term expenditure – as well as carbon emissions. Connecting these factors could transform your trust’s future. And securing the right funding, at the right time, could be your first step towards doing so.
Previously, we explored how to maximise your NHS budget for net zero estates and facilities, whether through public or private financing. Read on to learn how your partner of choice can help you to secure these funds at the right time for your organisation.
Firstly, you’ll need to identify the type of funding you need. With several options available depending on your project, it’s likely that public or private financing could support your energy goals. Your NHS trust could procure Public Sector funding from the UK Government or another financing body, based on your location and the energy solutions you’re interested in pursuing.
Alternatively, you may decide that Public Sector funding isn’t suitable for your NHS trust. This could be due to the parameters of your project, your location, or your proposed timescale. If so, private funding could help you to transform your NHS site(s) with a strong return on investment.
Private financing with a partner like Centrica Business Solutions means that you’ll be able to secure a contract that works for you. We’re proud to be able to directly provide a range of flexible financing options to NHS trusts investing in integrated energy solutions, tailored to their unique needs.
Whatever the requirements of your organisation are, your partner of choice can help you to navigate which financing options could work best for you.
The next step to realising your net zero goals is to choose an energy solutions partner. If you’re finding it difficult to choose a financing agreement, or type of funding, your partner of choice can help you to work through your options.
During the selection process, it’s also crucial that your project scope is consistent. The more consistent this is, the stronger the project proposals you receive are likely to be. This, in turn, can simplify comparing your potential partners.
When you’re looking for a partner of choice, there are a few key requirements you’ll need to look out for:
This can help you to identify the best partner to deliver your net zero goals – and to support you in securing funding.
Once you’ve chosen your energy partner, they should be able to support you in financing your project. At this stage, you will have been through the selection process, and will have more information available to shape your funding choices. If you’re looking for Public Sector funding, your partner of choice can help you to iron out the remaining details and get ready to apply.
Or, if you’re looking for private funding, they could provide you with financing options to help you to deliver your project. For example, Centrica Business Solutions can offer a range of directly flexible financing agreements, funded by us and designed to support your NHS trust in delivering a low carbon future. Whatever solutions you’re interested in pursuing, we can provide private, direct financing agreements to help you to secure your long-term energy strategy.
We’ve already seen that there’s no time to lose in taking action. The sooner you’re able to secure funding, the sooner you can capitalise on the cost and carbon reductions available through integrated energy solutions. With net zero deadlines rapidly approaching, and budget setting coming to a close, now could be the perfect time to set your low carbon transformation into motion.
If you’re ready to discuss the future of your NHS trust, we could help you to take the first step. With over 200 years of experience as leaders in the energy sector, we have the knowledge to help you to draw up your journey to net zero.
Our team are experts in delivering integrated energy solutions, across a range of Public Sector frameworks. We’ve already helped the NHS to save thousands of tonnes of carbon. Could your NHS trust benefit too?
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