opportunities for carbon savings
“It follows that where we can run carbon reduction projects
initiatives. There are close on 400 establish-
directly in Council offices, we retain both the financial and
ments whose buildings alone account for 25%
of the County’s total carbon consumption.
carbon savings, and these continue long after the capital
costs have been repaid into the fund. The County’s Fire
Options for carbon savings
Service, for example, has already installed two voltage power
Carbon Trust surveys, being conducted in
phases, have identified points in the infrastruc-
optimisation systems financed from the loan fund.”
ture where savings can most easily be
achieved.
As these projects involve relatively small
investments in technologies such as new tim-
ers on boilers, and have a payback within 5
Stream of projects in pipeline
years, money from the Council’s fund can be
applied there.
One of the factors that Salix Finance assesses The way in which schools are funded – which
before agreeing to set up a loan fund is that the makes them responsible for their financial man-
client has a continuous stream of a carbon- agement – means that the local authority can
reducing projects so that savings can be ‘re- incentivise these establishments to take part
cycled’ for as long as possible: this increases in carbon saving initiatives.
the savings attributed to any given loan fund. Mr Golightly again: “We offer to pay for the
cost of the technology involved, and allow the
school to retain 25% of the savings until the
capital cost has been paid off. The school
Lincolnshire County Council Offices, where a makes a financial saving, therefore, and we
powerPerfector has been installed. Annual
are credited with the carbon savings by Salix.
savings of electricity are about 10%
“It follows that where we can run carbon
or £27,300 of electricity along
reduction projects directly in Council offices,
we retain both the financial and carbon savings,
with 185 Tonnes of CO
2
.
and these continue long after the capital costs
have been repaid into the fund. The County’s
Fire Service, for example, has already installed
two voltage power optimisation systems
financed from the loan fund.”
Additionality condition observed
From the evidence emerging from the Sus-
tainability Unit at Lincolnshire, the County has
been keen to utilise the Salix loan fund for any
qualifying carbon project.
A criterion for acceptance by Salix Finance
is that the principle of additionality should
apply: only investments which could not have
been financed or would have been delayed
without the extra funds should be brought into
the scheme.
Is Steve Golightly satisfied that the spirit of
If there were any question whether Lincoln- this condition has been met? “Without ques-
shire County Council would run out of Salix- tion. In the case of carbon reduction invest-
compliant projects, the County’s schools pro- ments in schools, these would not have been
vide a ready marketplace for carbon reduction possible without the Salix initiative. §
If there were any question whether Lincolnshire County Council would run out of Salix-compliant
projects, the County’s 400 schools provide a ready marketplace for carbon reduction initiatives.
30
The Informed Executive
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