U.K. Green Bank Channels Money Into Energy-Saving Street Lights

(Bloomberg) — The U.K. Green Investment Bank funded 8.2
million pounds ($12.8 million) for a council on the southeast
coast for a program that will cut energy waste and boost the
efficiency of its streetlights.

Southend-on-Sea Borough Council also received a 5.1
million-pound grant from the Department for Transport as part of
the plan that will involve replacing streetlights and
illuminated signs with energy-efficient alternatives, the
Edinburgh-based bank said Tuesday in an e-mailed statement.

The work will generate savings of as much as 25 million
pounds over 25 years, according to the statement. The lights are
expected to use at least 55 percent less energy than the
existing lights.

Energy efficient lights “can last more than six times
longer than standard bulbs,” said Gregor Paterson-Jones,
managing director of energy efficiency at the GIB. Switching all
of the country’s streetlights could slash polluting emissions by
about 475,000 tons a year, or the equivalent of taking more than
200,000 cars off the road, he said.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Dan Weeks

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