Energy Bank

(A concept paper)

Objectives

1. Develop a method to facilitate a sustainable local economy

2. Create an organisation to help initiate the process towards sustainability

1. A method of turning fossil fuel savings into capital projects that bring about sustainable development

2. An interface that exchanges energy credits for money at a rate that encourages sustainable capital projects to be undertaken

3. The use of local labour and products, where possible

· Creation of energy credits backed by monetary deposits invested in a suitable conventional financial institution (e.g. Triodos Bank)

· Involvement of a local community interested in taking credits and offering measurable fossil fuel savings or community service

· Development of local service providers with appropriate skills to effect sustainable development projects

1. Value for credits based on fossil fuel units saved

2. An energy credit to money exchange rate

3. Investment appraisal based on energy payback

4. Comparison between energy and monetary payback for individual projects

Paul Newman

May 02