More than 10,000 street lights in Glasgow are to be replaced with LEDs.
Glasgow City Council has become the first UK local authority to use a loan from the Green Investment Bank (GIB) to finance the switch to low-energy street lighting.
It has secured £6.3 million which will be used for the first wave of the council’s plan to replace 70,000 existing street lights with lower cost alternatives.
The new LEDs are expected to use at least 50% less energy than the old versions and cut the council’s greenhouse gas emissions by more than 18,000 tonnes in the next 18 years.
The energy saved by the LEDs is equivalent to the total annual electricity use of around 1,250 households.
Gregor Paterson-Jones, Managing Director of Energy Efficiency at the GIB said: “Councils that make the switch to LEDs could make financial savings immediately, with their street lighting electricity bills up to 80% lower and overall energy consumption down by around 20%. This would make significant contributions to financial budgets and carbon reduction targets.”
The GIB’s ‘Green Loan’ offers UK local authorities a low, fixed-rate loan over a period of up to 25 years.