Wales to boost energy efficiency with £9m investment
The cash-injection will offer repayable grants for the Welsh public sector to generate energy and financial efficiencies and will help mobilise a variety of projects, while also encouraging the reduction of carbon emissions.
The new scheme, ‘Invest to Save Green Growth Fund’, will aid the development of LED lighting on sections of the Welsh Government trunk road network and the installation of LED street lighting in Monmouth County Council, Gwynedd Council and Wrexham Council, with the projects set to receive £4m and £2.7m respectively.
The government initiative will also provide £2.1m of financial support to a number of energy efficiency projects across various Cardiff City Council premises, as well as £333,000 towards the implementation of efficiency measures for environmental advisory body Natural Resources Wales, with the investments hoped to generate savings of £2.4m and cut carbon emissions by over 8,000 tonnes annually.
Jane Hutt, Finance Minister for Wales, who revealed the new scheme, said: “I am delighted to announce a new Invest to Save Green Growth Fund with over £9m for projects to support the Welsh public sector meet targets for reducing carbon emissions.
“Building on the success of the Invest to Save scheme, this new national initiative is a win-win situation for the Welsh public sector; reduced carbon emissions coupled with cash efficiency savings.”
The investments have been announced alongside a new 10-year national efficiency strategy, which is hoped to make Wales a “major exporter of energy efficiency technology and know-how,” while also outlining the role of organisations, businesses and householders in improving the nation’s energy efficiency.
The strategy emphasises how energy efficiency is a major factor in green growth, jobs, skills and supply chains, as well as being “the most cost-effective means” of achieving emissions reduction targets, along with lowering energy charges to businesses and for the public sector and reducing the cost of heating the homes of vulnerable people.
Carl Sargeant, Natural Resources Minister for Wales, who launched the 10-year strategy, believes that energy efficiency offers a considerable opportunity to deliver green growth, through new jobs, skills and a flourishing supply chain.
“Wales has led the way in successfully delivering a vision for energy efficiency that will deliver multiple benefits across the goals set out in our Well-being of Future Generations Act, reducing energy use and carbon emissions, creating jobs and tackling poverty and its ill effects on a number of fronts,” he said.
“The energy market is undergoing major transformation both within Wales and further afield. Ensuring that all sectors, households, businesses and our public sector use less energy is fundamental in our ability to respond to these changes.
“This strategy sets out the actions that we all need to pursue to deliver real benefits for our society, our economy and our environment. It is critical for the long term well-being of people in Wales, and will confirm Wales as a beacon of best practice in sustainable development.”
