Stirling Council is swapping 12,000 sodium lightbulbs for LEDs over the next four years in a move it predicts will cut energy consumption by 67%.
The council has borrowed £9.87m from the Green Investment Bank for the refit and is the third council in the UK to take out a GIB Green Loan following Glasgow and Southend on Sea.
The loan works in the same way as an energy performance contract, where it is repaid from energy bill savings.
While a lack of standardisation in energy efficiency projects has been cited as a barrier to investment, the GIB says it and legal adviser Shepherd and Wedderburn have standardised the process, helping to bring down transaction costs.
Read more about financing energy efficiency in our free report. It contains interviews with the Green Investment Bank, as well as other green infrastructure funds, the views of Energyst readers on energy efficiency finance, plus interviews with energy managers on the barriers to getting projects signed off at board level. Download it here.
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It’s a great news to hear that Stirling Council cut their energy expenses 63%. That actually helpful for them and eventually for the environment.
Thanks for sharing this update.
Please. Do a little bit research.
How does this expense ON LOAN – aka not yet paid for – leave the 63% savings balance?
https://minutes.stirling.gov.uk/pdfs/scouncil/Reports/SC20151210Item15StreetLighting.pdf
It isn’t even hidden from public sight this data, on the contrary.
Then explain to me how an LED street light benefits natural environs.
I would like to ask why nearly every council in the United Kingdom and overseas too all more or less at the same time carried out the exact same lighting upgrades for the exact same nonsensical reasons.
Google “LED lighting council”