Global investment banking firm Goldman Sachs is backing a $500 million (£326.7m) fund for PV projects in the US – believed to be the “largest” rooftop solar financing agreement in the country.

The fund will help install around 110MW of rooftop solar installations in California, Arizona and other states where renewable company SolarCity operates. Homes and businesses will be able to install PV arrays with no upfront cost and pay less for clean electricity than they currently do.

Stuart Bernstein, Global Head of Clean Technology and Renewables at Goldman Sachs said: “We are excited about the opportunity in distributed solar, which has the potential to both lower energy costs and create jobs. Our firm has set a target of $40 billion (£26bn) in financings and investments in renewable energy over the next decade and we believe SolarCity’s range of distributed solar solutions targeting a wider customer base will help us move toward a low carbon energy future.”

SolarCity has already installed around a quarter of the solar systems financed by the fund and the firm plans to install the rest by the end of this year.

A nuclear power station in East Lothian, Scotland is welcoming back visitors for the first time in 12 years today.

The new visitor centre at Torness nuclear station (pictured) is the latest of seven planned centres to be opened by EDF Energy across the UK. The energy supplier said is designed to “capture the imagination” of children and adults with hands-on display and guided tours of the power station.

The news comes as the station marks 25 years of power generation this summer. It has generated 200 terawatts of low carbon energy since starting production in 1988 – cutting 130 million tonnes of carbon emissions, equivalent to removing all the vehicles from the entire UK roads for two years.

Andy Spurr, EDF Energy’s Managing Director – Nuclear Generation said opening the visitor centre is an “important milestone” for the company: “It will enable thousands of people from the local community and beyond to see nuclear power and to learn about how we safely generate low carbon electricity for around two million homes.”

Local MSP Iain Gray added the new centre would help visitors understand the importance of nuclear power for the UK’s energy infrastructure.

An investment of €1 trillion (£846bn) is needed in the European Union’s energy network over the coming decade to avoid a crisis.

That’s the conclusion of an eight-month inquiry by the House of Lords into the EU power sector. The report said investors were being held back due to a lack of clear policy from Member States, including the UK, on how to deliver secure, affordable low carbon energy.

Lord Carter of Coles (pictured), Chairman of the EU Sub-Committee for Agriculture, Fisheries, Environment and Energy said: “The value of energy companies has slumped since 2008, the public purse is severely constrained but more than enough money is around in the investment community. This should be a great time to invest in long-term assets, such as energy, but clear policy is needed in order to release it. No country is an energy island, so EU policy is particularly important. We need leadership and direction from the EU and its Member States in developing and agreeing an energy policy framework through to 2030.

He said the EU’s Emissions Trading System (ETS) also needs greater support: “The ETS has failed but it is not dead. It needs to include a minimum price for carbon, providing governments and investors with the confidence to support innovation through investment. Second, and contrary to UK Government policy, a target for the proportion of energy to be delivered through renewable energy until 2030 is required.”

Other recommendations from the Committee include a regulatory approach to boost carbon capture and storage, developing a structure for the exploitation of shale gas and electricity interconnections between Member States.

DECC said it agrees that huge investment for low carbon energy must be central to both the UK and EU’s energy policy.

A spokesperson added: “In Europe we are strongly advocating agreement to backloading and structural change to the EU ETS so that it can remain the cornerstone of the EU’s climate and energy policy and provide the incentive necessary for such investment.”

Cities and municipalities across India are slashing their electricity usage and energy bills by switching traditional street lights to low carbon LEDs.

New data released by The Climate Group showed Haldia Development Authority in West Bengal (pictured) is saving around 70,000 KWh of electricity and more than $9,000 (£5,893) on its energy bills since installing LED street lights. Kolkata Municipal Corporation in West Bengal has also saved 52% of energy and the Thane Municipal Corporation in Maharashtra reported electricity savings of 47%.

Sanjay Wadvani, British Deputy Higher Commissioner for Eastern India said: “The LED street lighting technology will go a long way towards greener and cleaner municipalities across the states of West Bengal, Odisha and Maharashtra. The project is an excellent example of how cities can cut their costs in power consumption and make significant energy savings.

“I hope local authorities will take this up as a viable business model and showcase LED street lighting technology as a key part of their smart city infrastructure while also combating climate change.’’

Supported by the British High Commission, The Climate Group has been working in different Indian states for the last three years to install pilot LED street light projects and design policy framework for large-scale adoption of the technology.

A 15 year power purchase agreement is paving the way for a £70m investment in renewable energy.

The deal struck between green energy investors Low Carbon and SmartestEnergy will cover generating capacity of 65MW, enough to power more than 20,000 UK homes.

An initial 23MW of capacity under the PPA has been provided by four ground-based solar projects in Dorset, Devon and the Isle of Wight and they are already generating energy.

The remaining output will commence construction in the near future and is expected to be onstream within a few years. All the energy from these future projects will come from renewable generating sources.

Low Carbon, which only started trading in its current form last year, raises finance mainly from private sources and takes the risk in developing renewable energy projects. Its Chief Investment Officer John Cole (pictured) said the deal with SmartestEnergy was a real positive for green energy.

“We are growing and targetting 200MW of development this year. This deal with SmartestEnergy is great news we went with them because they were flexible and had a product that worked, apart from that they kept to their word and we had good chemistry. We only do renewable energy and needed someone to buy it with the same beliefs.”

Iain Robertson, Head of Generation Sales for SmartestEnergy, said: “Banks are looking for greater security and the fact we are able to provide such long term deals on both the power generated and the ROC payments is helping projects secure the finance they need to proceed.”

The deal comes in what many believe is a hiatus of green investment as Government policy and industrial attention has turned more towards gas in recent months but Mr Cole says long term funding of green projects is the way forward.

He added: “We do need a policy set for the long term and it’s very important we are committed to doing low carbon. But I don’t think we will have a problem selling our electricity and green generation should only grow in the future energy mix.”

UK householders are currently saving around £64 on their gas and electricity bills as a result of energy and climate change policies.

The savings are expected to reach £166 by 2020 with energy policies in place than without them, according to new analysis published by the Government today.

It claims household energy bills without policies would be around £1,496 by 2020 but with the current policies, such as the Green Deal and the Energy Company Obligation (ECO) – which helps people make their homes more energy efficient – consumers’ bills would be reduced to £1,331 or 11% down. DECC claims current policies are putting a “cushion” between the price of energy in the market and the bills paid by householders.

Energy Secretary Ed Davey said: “Energy bills are going up. They’ve gone up a lot and they’re going up further – we are absolutely not complacent about that. That’s why we designed all these policies to help people so we can push the bills back down again as much as we can and we’re doing an awful lot more… because I am obsessed about trying to get the bills down to make that cushion as big as I possibly can.”

He added: “The analysis shows that our strategy of shifting to alternatives like renewables and of being smarter with how we use energy, is helping those that need it most save money on their bills.”

On an average household bill, 47% of the costs are made up of wholesale energy prices, 20% of network costs, 19% of supply costs, 5% for VAT and the rest 9% includes Government policy. In terms of the policy, DECC claims nearly half of the costs are for energy efficiency and fuel poor households. Although the costs of policies are expected to increase in future in order to support low carbon investment, the report claims energy efficiency policies will continue to drive down household bills.

DECC expects around half of UK households to have at least one major insulation measure by 2022, which it claims could help them save between £25 to £270.

Developers interested in generating renewable electricity will now be able to commission and build projects “more quickly” under a new programme announced today.

It aims to help low carbon electricity project developers make final investment decisions ahead of the changes to the electricity market next year, i.e. the Contracts for Difference (CfD) scheme being put in place as part of the Electricity Market Reform.

The CfD scheme is expected to provide a long-term plan for stable and predictable incentives for businesses to invest in low-carbon electricity generation. However, there were concerns about the uncertainty caused by the transition to the CfD scheme which could potentially delay projects and reduce investor confidence.

Under the ‘Final Investment Decision Enabling’ programme, DECC has published further details of the process for providing support to renewable electricity projects, including information on the form of support available and the qualification criteria. The Government expects the process of helping make final investment decisions this year will allow construction to start on a number of projects sooner.

Energy Secretary Ed Davey said: “It’s vital that we get the economy moving again and stimulating low carbon investment and the creation of green jobs is central to this. We want to give investors and project developers across low-carbon technologies as much certainty as we can, as early as we can. That’s why we are launching a process that will enable investment decisions to be taken before changes to the electricity market come into effect, ensuring that renewable electricity projects can get built, bringing investment and jobs.”

The UK could save more than £500 million and cut eight million tonnes of carbon emissions within the next decade.

That’s according to a new report, which claims the National Physical Laboratory’s (NPL) Centre for Carbon Measurement would help make those savings. It suggests the level of carbon savings made would be equivalent to 2% of the UK’s annual carbon footprint.

The Centre, launched in March last year, was set up to reinforce and expand NPL’s work on climate data, climate accounting and help accelerate the take up of low carbon technologies.

The report evaluated the Centre’s portfolio of projects, which includes those to improve the accuracy of climate data from satellites, assess the potential to use biomass in end-of-life coal power stations and create a temperature based control circuit to make energy efficient lighting even more efficient. It assessed results that have already been achieved as well as anticipated results over the lifetime of the innovations.

Energy and Climate Change Minister Greg Barker, who recently visited the Centre said: “The Centre for Carbon Measurement at NPL has supported businesses large and small with their innovations and in some cases has even designed its own emissions savings technologies. This work is essential in ensuring the effectiveness of energy reduction initiatives, for example the Government’s Green Deal, which lets householders and businesses pay for energy-saving technology over time through their energy bills.

“For programmes like this to be effective – for the individual and the environment – we need accurate ways to measure energy savings and assurances that the technology we install does what it says on the tin.”

The report by Technologia, a consultancy that assesses the impact of scientific projects, looked at 12 projects in detail and found measurement plays an important and “economically advantageous” role in carbon reduction.

Jane Burston, Head of the Centre for Carbon Measurement said: “This analysis confirms we are on the right track and that carbon measurement brings a clear, quantifiable economic and environmental benefit. We can now assuredly forge ahead with a diverse range of projects that use our measurement expertise to provide vital support to climate science, low carbon technologies and carbon reduction initiatives.”

Swedish car manufacturer Volvo has announced its new plug-in diesel car (pictured) has won approval for the Government’s grant worth £5,000 for buyers.

The Plug-in Car Grant is meant to tempt buyers to choose new ultra-low carbon vehicles and increase the uptake in the country. In order to qualify for the Government grant, the Volvo model had to fulfil a number of criteria, including standards on battery warranty, crash safety, battery safety and carbon emissions.

The rechargeable hybrid offers three driving modes – able to drive in fully electric mode, hybrid mode or four wheel drive mode – known as Pure, Hybrid and Power.

Iain Howat, Head of product and pricing at Volvo Car UK said “The V60 Plug-in Hybrid has been a worldwide success with the initial run of 1,000 cars sold out before the car reached the showrooms. Now that we have received the UK Government’s plug-in grant I’m sure the world’s first plug-in diesel hybrid will become even more attractive to UK customers wishing to purchase leading vehicle technology.”

According to official figures, 3,021 claims were made through the Plug-in Car Grant scheme up to December 2012.

India’s huge cement industry, which is expected to expand rapidly, could see a fivefold increase in its carbon emissions by 2050.

That’s the prediction from the International Energy Agency (IEA) in a new report released with the World Business Council for Sustainable Development, which shows how the country’s cement sector could sharply cut its emissions in the next few decades. It claims new low carbon initiatives could save the sector the equivalent of current annual energy use in Sri Lanka or Bulgaria.

According to the IEA, the cement industry has already reduced emissions per tonne of cement by more than a third since 1996, however, it claims total emissions are growing with increased production. The new report shows technologies, policy frameworks and investment plans that would limit the growth to just a double or at most a 240% rise. The IEA suggests using alternative fuels, waste heat recovery, including carbon capture and storage (CCS), with total additional investments of $29 billion (£19.1bn) to $50 billion (£33bn) till 2050.

The report follows a previous ‘Cement Technology Roadmap’ in 2009, the first such report to address carbon emissions reduction for one industrial sector as a whole.

Maria van der Hoeven, IEA Executive Director said: “We applaud the Indian cement industry and the IFC (International Finance Corporation) for their initiative to undertake a second phase focusing on roadmap implementation and for their efforts to transition the Indian cement industry to a low-carbon pathway.”

The Indian cement industry is believed to be the second largest in the world after China and has more than doubled output in the last decade. It is the third largest energy consumer in India’s manufacturing sector and is responsible for 7% of the country’s carbon emissions.