New streetlight loans for local authorities
Local authorities can now get a cheap loan to switch old streetlamps for more efficient ones under new plans announced by the Green Investment Bank today, reports Energy Live News.
Glasgow City Council is the first to take up the loan to convert its 70,000 streetlights to low energy LED lamps.
There are seven million streetlights around the UK which clock up an electricity bill of more than £300 million each year. Despite this fewer than one million lamps are low energy.
The Government-funded bank hopes many will follow Glasgow’s lead and snap up a slice of its £3.8 billion funding pot to revamp lights.
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