London schools to benefit from interest free energy efficiency loans
Schools in London could save £32m and cut carbon emissions by more than 125,000 tonnes over the next ten years under a new scheme, launched today by the Mayor Boris Johnson.
The RE:FIT Schools Energy Efficiency Programme, will give schools access to an interest free loan to cover the costs of installing necessary energy saving equipment including improved insulation, low energy lighting systems and new, efficient boilers.
The programme will also offer schools the opportunity to see where energy savings could be made and free technical support to make these changes.
It is estimated that nearly 80% of the capital's carbon emissions come from buildings and refitting older buildings is a key part of the Mayor's commitment to reduce carbon emissions in London by 60% by 2025.
Johnson argued that making London schools more energy efficient would save money and protect the environment while boosting the economy and creating jobs.
Johnson added: "This programme is the perfect opportunity for schools to transform their energy use and help make London the greenest big city in the world."
Aimed at helping schools cut costs and the amount of red tape normally associated with this type of building work, participants will be able to use a pre-selected contractor to carry out the work.
In turn, the contractor will offer schools a guaranteed energy saving upfront, enabling them to predict fuel bill savings which they can then use to repay their loans and continue to make energy and financial savings long after the initial costs have been met.
Energy and Climate Change Minister Greg Barker said: "The Mayor of London's new energy efficiency scheme will make a real difference to schools right across the capital, offering advice on reducing energy use, support with the upfront costs of making improvements and ultimately helping save money on energy bills."