LONDON, Feb 9 (Reuters) - Britain will invest up to 1 billion pounds ($1.4 billion) in community energy projects, such as installing solar panels on libraries and other public buildings, to help meet
Britain to invest up to $1.4 billion in community energy projects
Investment in Community Energy Projects
LONDON, Feb 9 (Reuters) - Britain will invest up to 1 billion pounds ($1.4 billion) in community energy projects, such as installing solar panels on libraries and other public buildings, to help meet climate targets and cut local energy costs, it said on Tuesday.
Objectives of the Local Power Plan
Britain is seeking to largely decarbonise its power sector by 2030, which will require a big increase in renewable capacity.
Funding Distribution and Support
The Local Power Plan, launched on Monday, aims to support locally owned clean energy projects across community buildings and public sites.
Role of Great British Energy
It will be backed by Great British Energy, the government's publicly owned energy company, with the funding part of the 8.3 billion pounds committed to GBE over the current Parliament.
Community Benefits and Control
Energy Secretary Ed Miliband said the initiative would allow communities to own and control clean energy generation, ensuring profits flow into local areas rather than to large energy companies.
"By giving local people the chance to take control of their energy, this government is making a fundamental choice to transfer wealth and power back to communities," he said in a statement from the Department for Energy Security and Net Zero.
The funding will be distributed through grants and loans to community energy groups and local authorities, with schemes launching later this year, the government said.
($1 = 0.7325 pounds)
(Reporting by Susanna Twidale. Editing by Mark Potter)
