Project Market Place
Linking potential renewable energy projects in a local energy plan or climate strategy to supply chain and investors. The marketplace will allow opportunities to be aggregated up and more easily assessed and delivered for the local area. Has the potential to evolve into a Local Energy Market but there is less emphasis on matching supply and demand. This is proactive approach of increasing supply of locally used renewable energy or energy efficiency to reduce local demand.
Why is it better for Net Zero?
Increases visibility and credibility of renewable projects while decreasing costs and risks
What makes it a SLES?
A Co-ordinator or Marketplace that links projects with investors and supply chain
Main Low Carbon Interventions
Solar, Storage, Retrofit.
Key Benefits
Financial
- Increases private Investment in Local Area.
- More cost effective delivery of projects.
- Reduce energy bills.
Local Growth
- Build Local Skills and Supply Chain.
Net Zero
- Accelerates roll out of high impact projects.
Health and Wellbeing
- Funded projects can be targeted at vulnerable / fuel poor.
Considerations
Community Interests
- This archetype is about improving investment and local supply chain. Although some projects may help increase community engagement in net zero it is not a certainty.
System Resilience
- Not addressing any future network constraints or infrastructure upgrades that are required in future.
Market Design
- For the business case of projects to be viable longer term, will need to address how value of using locally generated energy and providing local flexibility is increased.
Financial
- Finding the right type of Investor. Need to appeal to a type of investor who is interested in long term, slower returns.
Where could local authorities fit into Project Market Places?
Local Procurement Framework – specific for the delivery of net zero projects.
Invest in Energy assets and infrastructure.
Local project co-Ordinator – that helps create local projects, raise finance and contract supply chain to deliver.
Local Projects Platform – software that aggregates local projects and matches it finance and supply chain.
Decarbonise Buildings – local authority estate could be put forward for heat network or solar projects without being the primary investor.
Lease Land – license or host land that could be used for grid connected assets like solar and storage.
Local Energy Planning – set priorities for the local area and assess potential for energy assets.
Recruit Local Projects – helping vet local projects. LA approved projects may be more likely to get investment.
Support recruitment of Investors and Supply Chain.
Smart Local Energy Systems
Supporting the creation of Smart Local Energy Systems to attract innovative low carbon businesses, infrastructure, investment and jobs
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