Through our partnership with Daikin Air Conditioning, we are able to offer a financing option for your R22 replacement which is authorised through the carbon trust.
Energy Efficiency Financing (EEF) is an affordable and easy way for businesses to upgrade to more energy efficient equipment. With Air control & Development and Daikin UK, EEF is specifically being offered to those businesses that still have air conditioning systems containing R22 refrigerant.
R22 refrigerant phase-out
This HCFC is being phased out because it can harm the environment. It is no longer used in new equipment. Currently, only reclaimed or recycled refrigerant may be used to top up existing R22 systems. After December 31st 2014, its use will be banned altogether.
What will happen then?
R22 systems still in operation after that date will eventually stop working. They will ALL have to be replaced because they cannot be repaired. Businesses can ensure they keep their air conditioning running by taking advantage of the EEF scheme before they become vulnerable to R22 system breakdown.
Daikin Air Conditioning: One of the biggest manufacturers of Air conditioning systems in the world, at the forefront of technology development.
Carbon Trust: Specialists in independent assessment and verification of low emission energy saving schemes.
Experience: Expertise in carbon saving from energy efficient technologies, working with recognised suppliers.
EEF role: Independent assessment of each system replacement plan against objective criteria. These specifically focus on the programme’s potential for carbon, energy and cost savings.
Siemans Financial Services: The UK’s leading provider of innovative finance solutions to businesses and public sector organisations.
Experience: Finance arranged for 250,000 customers, including most of the current FTSE 100 companies, over half of NHS Trusts, and many local authorities.
EEF role - Siemens Financial Services approves each qualifying application, sets up the lease, provides the funds to pay for new Daikin equipment and its installation, and collects lease payments.
What’s in it for you?
An affordable replacement of your obsolete R22 air conditioning system – without needing to find upfront payment.
A better system especially if you choose to upgrade to Daikin UK’s extra efficient options – and it will also give you more choice in leasing terms.
One-off installations – or roll-out programmes where you own or operate several sites. For roll-outs, installation work schedules need to be agreed in advance. Then equipment delivery can follow the schedule. This ensures smooth delivery of the total project.
No unscheduled loss of air conditioning if you replace your existing system before the end of 2014. This will eliminate the risk of you owning a broken R22 system that cannot be repaired.
What role does the Carbon Trust have?
They will independently check and compare the running costs of your existing R22 system against the projected costs of the proposed new equipment.
This ensures that your anticipated monthly savings is valid and credible – and this then determines what terms of the lease are viable.
When this is confirmed, the Carbon Trust certificates the proposed replacement plan – and Siemens Financial Services can set up your lease.
How is my monthly finance payment calculated?
System operating hours for an R22 system and the recommended replacement are compared. The newer system will be less expensive to run.
The total value of the equipment and installation work is the amount that Siemens Financial Services will be financing.
Your lease term is the time required to pay this back using the savings in monthly running costs.
Carbon Trust will always recommend that your monthly payments are “Cash Positive”. This means your monthly payments will be slightly less than the running cost savings from the new system.
How long will my lease term be?
It will be between 3 and 7 years. Your lease term is the time required to pay back the project cost using the savings in monthly running costs.
There may be a choice for you. This will depend on:
- whether or not you wish to include the installation cost in the lease (this is not compulsory)
- your projected monthly savings from the new system to be installed, and what lengths of lease would be required for monthly payments to remain within that figure.
Who pays us?
In the EEF scheme, installation costs are usually covered within the lease. In which case, Siemens Financial Services pays Daikin UK for all the project costs, and Daikin pays us direct.
So you will not receive an invoice for installation unless you decide not to include those costs in the lease.
Who buys / owns the equipment?
When the lease is set up and signed by you, Siemens Financial Services purchases the equipment from Daikin UK.
They own the system until the lease-term is completed and all scheduled payments have been received from you.
Ownership will then automatically be transferred to you. There will be no other end-of-lease payment due.