Cities currently spend around 10 per cent of their GDP on their annual energy bill – and the figure is rising fast.
A study carried out by the Centre for Climate Change, Economics and Policy estimated that in 2010 £368m was spent on gas, electricity, oil and other sources of energy in Calderdale alone.
That bill is expected to rise to more than £500m by 2020 and it’s a scenario replicated across the county.
The study estimated the cost of insulating buildings and switching to low carbon energy supplies at about £320m over 10 years.
However, the investment would eventually pay for itself and leave a legacy of other social, economic and health benefits.