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French city’s plan to encourage residents to invest in solar panels

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The town of Lyon is inviting residents to spend money on photo voltaic panels on 12 public buildings, which it says will give them a return on their funding larger than France’s well-known ‘Livret A’ financial savings account.

The mayor’s workplace provided residents 12 roofs and invited prepared traders and locals to assist finance and construct the undertaking.

The mayoral deputy for ecology, Sylvain Godineau, mentioned that the scheme could have an curiosity in training in addition to an surroundings.

He informed FranceInfo: “These photo voltaic roofs will enable us to carry academic workshops, to clarify to kids. It additionally offers mother and father the chance to spend money on the roof in the event that they just like the undertaking. It creates a direct connection between a baby, their household, and faculty they go to each day.”

The scheme will lease the roofs to particular person or collective traders. They obtain a return on their funding by promoting the power produced.

Mr Godineau mentioned the scheme can be a type of “citizen funding” which might be “a bit extra worthwhile funding than Livret A today”.

The regulated French Livret A financial savings account will supply an rate of interest of three% from February 1.

Learn extra: A tax-free French financial savings account is open to everybody with a 3% rate of interest

Timothée Romier, from the Coopawatt affiliation, says that the initiative “can also be a solution to management the environmental transition, and create a brand new hyperlink between the manufacturing of renewable power and the mastery of its manufacturing within the nation”.

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