Solent New Energy (SNE) offers Solent Local Authorities an efficient and profitable route to bringing forward and funding commercially viable low carbon, renewable energy or retrofit projects that would otherwise take much longer to realise or fall below affordability thresholds. Whilst domestic retrofit is not included at this stage (covered by Green Deal), projects can otherwise include public, private and third sector properties and land.
It is intended that, once the fund, project pipeline and delivery mechanism have been launched, SNE will offer a very efficient and attractive investment for private sector funds, so boosting substantially the rate of local project delivery, job creation, economic growth and reduction in fossil fuel dependency in the Solent region..
How it delivers the priorities
Priority 1: New Low Carbon & Green Technology
SNE will accelerate the development of new Low Carbon and Green Technologies by increasing understanding of their uses and demand for their deployment. This will also accelerate the demand for jobs and skills in the low carbon sector, so promoting regional economic growth.
Priority 2: Resource Efficiency in Homes and Businesses
Public, private and third sector properties, whether new or being retrofitted, will benefit from accelerating the reduction in their energy consumption and, thereby, reduction in the resources needed to deliver traditional energy supplies. In addition, renewable energy will be part of the mix offered. By reducing energy consumption, and reliance on fossil fuels and their rising prices, the region will become more resource efficient and businesses and public and third sector services will become more competitive/cost effective.
Priority 3: Generation of Secure, Renewable & Low Carbon Energy in the Solent
SNE’s key purpose is to overcome the current barriers to investment in secure, renewable and low carbon energy in the Solent region.
How it delivers the expected outcomes
Promote business growth
Accelerated investment in the sub-region’s Local Authorities, business, colleges and the third sector energy conservation and renewable energy generation will create growth opportunities for local supply side businesses (and the Hampshire Community Bank who will help to fund their growth).
Create new/safeguard jobs
To meet rising investment, particularly in retrofit projects, new jobs and apprenticeship schemes will be created throughout the Solent region. These will be predominantly in the lower skilled parts of the potential workforce. It is estimated that every £1m of additional investment will create 2.3 jobs.
Develop an appropriate skills base
Businesses, the public sector and local colleges will provide new jobs and apprenticeships, particularly in the much needed manual trades. This will provide present and future workforces with the knowledge, understanding and experience of working in energy efficiency and renewables.
Measureable carbon reductions
Implemented energy saving improvements and the generation of renewable energy will reduce energy, waste and carbon emissions. In addition, reducing energy consumption and lower dependency on fossil fuels will make existing businesses more competitive, so safeguarding jobs.