For parish councils the thought of upgrading to energy efficient lighting can be off-putting due to cost considerations. Despite the overall energy savings and positive environmental impacts, many councils may think that LED lighting is beyond their budgets.
This is where Salix can help. Salix Finance is a not for profit company that provides 100% interest-free loans to public sector bodies looking to run energy-saving projects. Government funded, the organisation can fund and support over 120 different types of energy saving technology available to parish councils. This includes upgrading street lighting and lighting in buildings such as village and parish halls.
The minimum value for any single project is £500 and the total minimum loan value is £5000, but there is no maximum figure. Loans are paid off over 5 years and money can be reserved if projects are split into phases.
In the case of Hazlemere Parish Council the cost savings have been amazing. A loan of £24,400 from Salix has enabled them to upgrade 240 of their street lights to 16w LEDs. This has reduced their electricity usage by a huge 72%, from 57,185kWh to 15,770kWh. In financial terms that’s around £4,881 per year off their energy bill. The annual savings alone will pay off their loan over its 5 years and the expected lifetime savings are estimated at over £97,000!