The local authority has secured a £9.87 million loan from the Green Investment Bank (GIB) to install new LEDs in 12,000 streetlights over a four-year period.
In addition, 4,000 lampposts will be replaced.
Streetlight power consumption will also be cut by 63% while greenhouse gas emissions will be reduced by 14,400 tonnes during the schemes lifetime.
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Overall, the council predicts the programme will save £31m over the next 30 years.
Director of Housing and Environment, Robert Steenson, said: "We are investing in the LED streetlights both to save money and make sure that Stirling Council provides high-quality services that are as sustainable as possible. We are very pleased to have worked with the UK Green Investment Bank on this deal."
Edward Northam, Head of Investment Banking, GIB, added: "Replacing its existing streetlights with more efficient and cost effective alternatives will see Stirling Council make immediate budget savings while contributing to the wider movement to decarbonise our economy. There are signs that more and more local authorities are considering the benefits of the spend-to-save approach, with Stirling becoming the third UK council to opt for a Green Loan."
(LM/MH)
