Rural affairs and environment secretary Richard Lochhead has said the savings made from the change would make the LED project ‘ideal’ for GIB funding.
Speaking at a Green Investment Bank conference in Edinburgh last month, Lochhead said, ‘Payback time is estimated at around seven to nine years, which is an outstanding spend to save case based on energy savings of as much as 40 to 60 per cent.
‘Analysis by the Scottish Futures Trust indicates that an investment of £350 million in low-carbon measures across the Scottish public estate could lead to potential cost reductions in the region of £900 million.’
The nationwide project is part of a number of energy-efficiency programmes being looked at, but work goes on to assess how much the UK GIB will invest in these projects and what structures will can support the investment.
The plan is one of a number of energy-efficiency programmes that the Scottish Government is considering.