Community Energy

Meeting: 
MQT on 2015-12-16
Session date: 
December 16, 2015
Reference: 
2015/4118
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Your Deputy Mayor for Energy recently wrote to the Treasury highlighting the "unintended consequences" of ending tax relief for community energy schemes and called for a "light-touch approach" to be taken. However, this request has been completely ignored, and the Chancellor confirmed in his Autumn Statement that the Treasury has now removed Enterprise Investment Scheme tax relief on community energy projects. In MQ 2015/1003 in March 2015 you stated that you would review how the London Green Fund could support community energy projects. Can you provide an update on this action?

Answer

Answer for Community Energy

Answer for Community Energy

Answered By: 
The Mayor

Under the current phase of the London Green Fund (LGF) financially viable community projects can be supported through loans. However, eligible smaller projects could be grouped together in order to achieve economies of scale and become financially viable. The next phase of the LGF, to be launched next year, will explore other funding models for such projects.