In this blog, we explore what your next steps should be when the next PSDS funding is released.
*Article Updated 13th July 2023*
Following announcements of a further round of funding being made available of the Public Sector Decarbonisation Scheme (PSDS) we want to look the best steps to ensure you’re successful with your applications.
On the 12th July 2023, Salix Finance announced the next phase of the PSDS funding scheme for the public sector with up to £230 million available in 2024/25.
If you want to understand and know more about PSDS and how it works, please visit our previous blog which provides an introduction.
Before we delve into the must-do steps to secure your funding, we think it is important that we look at the issues with past PSDS.
There is a lot of information that is needed to submit a successful application, and there has been some heavy criticism from applicants and participants alike who think the window to submit just isn’t long enough.
Another big issue has been that the funding pot has run out far too quickly. The total amount of bids has surpassed the total amount of money in the pot, with bids for Phase Two’s £75 million pot surpassed in less than 24hrs!
Be speedy and plan, plan, plan!
By getting all your ducks in a row now, you’re more than likely to mitigate any of the risks highlighted above.
Applications are looked at on a first come, first served basis, so the quicker you are able to fully complete and submit your application, the more chance you have of your project being green lit.
Being quick and being detailed enough will see you in with a better chance of being successful.
To be ready for PSDS, you’ll need to factor in the following:
One of the most important elements in your application for PSDS is an accurate estimate of how much your project will cost, remembering to include all of the factors above.
There have been cases where a public sector body has submitted a number which, on project completion, ends up being only 75% of the total cost. If this was to happen to you, your only options would be to fund the remainder of the project yourself or give all of the money back to the government.
It’s a big commitment.
Yes, there is.
Our team of experts know the bidding process well, and we would be able to guide you through all the important parts of the process.
We also have specialist consultants, procured through our frameworks, that can quickly carry out those relevant surveys, help you to write bids and get you to those all-important ‘numbers’ as quickly and compliantly as possible.
If your bid is successful, then our team can support you to deliver the projects with compliant procurement frameworks with flexible options and high-quality service providers.
Our team know the process and Salix requirements well and have in-house resource to support your team with project or programme management.
*This includes completing surveys on buildings, running procurement, allowing for product lead times, and programming installation dates.
Our team of experts are on-hand to give you advice through every step of your application. Click on the ‘Contact Us’ button to contact one of our team today.
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