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Boost for projects to deliver low-carbon economy and help drive COVID recovery

Huge strides are being made in renewable energy and clean technologies and frankly it’s hard for busy people to keep up with developments, let alone evaluate which ones present the best opportunities. 

So it’s good to see help being made available for those wishing to invest in ‘green and clean’ projects. The Scottish Government is to consider backing large-scale private, public and community low-carbon energy generation and energy efficiency projects with money and other support.

The aim is to stimulate investment and maximise the potential of the low-carbon sector while reducing greenhouse gas emissions through Holyrood’s Low Carbon Infrastructure Transition Programme.

LCITP will invest £1million or more in low carbon heat and/or renewable electricity for buildings and local energy systems to help achieve net zero emissions by 2045. Helping with project development, advice and finance, LCITP has been involved in more than 20 demonstration projects and developing 30-plus early-stage projects.

Instead of prioritising established technologies such as solar, biomass or energy-from-waste, the scheme will focus on heat pumps, heat networks, waste water heat, geothermal, hydrogen, electric heat, heat recovery, thermal storage, electric storage, anaerobic digestion, bio- gas and grid services.

Projects should deliver innovative technologies and systems to play a part in building modern, integrated energy systems delivering reliable, low-carbon energy at affordable prices to consumers in all parts of Scotland by 2045.

This will interest some people and organisations we work with, many with ideas to deliver integrated low carbon and/or renewable electricity, heating or storage solutions, but who need external support to help turn their aspirations into reality.

Whatever one thinks about taxpayer funding, my experience tells me that effective pump-priming is often necessary to allow ambitious green projects to see daylight. Historically Scotland has produced many pioneers who have played a role in changing the world. Current generations share this resourcefulness and I hope that this opportunity will encourage the realisation of innovative projects that will make a real difference to delivering low-carbon energy solutions.

A further proviso is that projects should also have potential to catalyse green recovery from the economic challenges imposed by COVID-19. The world will face many challenges following this pandemic; however, I hope that sustainability is not a casualty.

Development support of up to £50,000 is available to help projects that have a viable feasibility study. They must provide a minimum 50% matched funding towards the cost of the business case.

 

Anyone who would like to know more, please contact Galbraith or email me directly at:

calum.innes@galbraith-group.com