The BASEE competition has offered up to £6 million of funding for innovative solutions that reduce transaction costs through economies of scale through harmonised and simple practices that encourage the take up of energy efficiency by SMEs.
The competition helps address some of the key market failures faced by SMEs such as:
- lack of economies of scale
- high upfront capital costs
- high transaction costs
- difficulty accessing finance
14 projects were selected to receive Phase 1 funding to develop feasibility studies for their solutions. 8 of those projects were awarded Phase 2 funding to develop their solutions.
The BASEE competition is closed for new applications. Details of the competition’s aims and objectives can be found in the competition guidance.