Climate bond initiative funding school solar panels

Money raised by a climate investment scheme will see solar panels installed in schools to boost renewable energy and reduce energy costs.

The scheme was funded by the first phase of the Sheffield Climate Investment bond, which has raised £1m so far.

Sheffield City Council said it would issue a second climate bond initiative later in 2026, with ambitions to fund further solar panels as well as other projects.

"We have plans to move forward with more schemes which will generate energy and money for schools, communities and the council going forward," said councillor Alexi Dimond, chair of the transport, regeneration and climate policy committee.

The climate bond, launched through a specialist investment firm in December 2025, allowed residents to spend a minimum of £5 to fund climate-related council projects.

Bond buyers gained a return on their five-year investment plus their money back, the authority said.

A recent meeting of the council's transport, regeneration and climate policy agreed to commission a 25-year contract to operate and maintain solar panels on the roofs of 21 city schools, the Local Democracy Reporting Service said.

The electricity generated will be used by schools and the excess can be sold to the national grid.

"Solar panels on schools is a clear win-win," said Minesh Parekh, Crookes and Crosspool councillor and Labour's climate lead.

"Schools generating solar power helps us with our ambitions to reach net zero, but it also cuts their energy bills so that our schools can spend more on pupils' learning experiences."

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