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23 Aug 2012 08:08:10

New energy efficiency finance initiative sets out to be the real green deal

It is now widely accepted that if we are going to create a low-carbon future we need to address our relationship with energy and find ways to temper our profligate use of it. Energy efficiency — providing the same service for less energy — is a crucial step towards improved, intelligent energy management. However, this recognition has yet to give rise to a finance model that effectively breaks down the barriers to widespread adoption of energy efficient technologies.

Now, LED specialists Light Planet are taking matters into their own hands. They have successfully raised £5 million of venture capital to fund a new finance initiative that will offer businesses LED lighting solutions worth up to £150,000, giving them the ability to reduce their energy bills and carbon footprint without having to produce upfront investment or commit to loan schemes.

Rather than expect organisations to bear the brunt of investment in a difficult economic climate, Light Planet will simply recoup 80% of the financial savings made as a result of increased energy efficiency. This is a stark contrast to the government’s approach to encouraging energy efficiency – the Green Deal – which could result in home owners repaying more than double what they borrow and has unsurprisingly been dogged by predictions of low uptake rates.

As LED technology has matured and the movement towards energy efficiency has intensified, the impressive benefits that LED lighting can deliver have been demonstrated on a wide scale. In addition to significant energy and maintenance savings, solid state lighting offers some unexpected advantages in a number of sectors, from enhancing patient wellbeing by mimicking daylight in hospitals to protecting artworks in galleries.

Simon Leggett, managing director of Light Planet, commented: "At Light Planet we have complete faith in the potential of LED solutions to deliver significant energy and monetary savings. Our new finance initiative will encourage increased adoption of energy efficiency measures and hopefully provide a blueprint for other industries."

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