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Flexible finance options help investment in street lighting

Flexible finance options help investment in street lighting

16 October 2017

Greater flexibility in financing street lighting schemes should give confidence to authorities who are looking to improve energy efficiency and save money.

Considerable progress has been made by many local authorities to move towards more energy efficient street lighting, but a good number have not yet taken advantage of the opportunity to install LED luminaires and benefit from the financial and carbon savings.

There are however a number of options available to finance upgrades to LED street lighting. Deciding on the most appropriate route for funding will depend on a range of issues from the amount of capital required to the timescales for a project.

One perceived barrier to local authorities seeking to invest to upgrade their street lighting can be the inflexibility of funding and the risks that this could
bring to delivery.

The most common way of funding street lighting upgrades often relies on a range of financing routes. Authorities can use prudential borrowing, available
through the Public Works Loan Board, the European Regional Development Fund, the Green Investment Bank and not for profit company Salix Finance.

Until recently there was also the Highways Maintenance Challenge Fund, but this year the Department for Transport excluded lighting schemes in England from that fund.

So if an authority is looking to upgrade its street lighting where can it turn? One option is to consider an interest free energy efficiency loan, offerd by Salix to public sector bodies in England, Scotland and Wales.

To read the full article:  Transportation Professional October 2017

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