The London Stadium, where local West Ham currently plays, will undergo changes that will cost just under £5 million. Despite the substantial funds allocated to implement the innovations, the operation is expected to pay for itself within a few years.
What changes are in store for the London venue?
The 2012 Olympic Stadium - now home to West Ham United - is to be covered with photovoltaic panels to reduce carbon emissions. The project is estimated to cost £4 million over the first two years, but would pay for itself after five years. At the same time, plans include replacing London stadium's lighting with LEDs, as well as installing heat pumps and heat recovery systems.
According to the documents, work on the east London site could begin later this year. The building could then start generating energy by the end of 2024. That's according to the stadium's owner, the London Legacy Development Corporation (LLDC) - the body set up after the 2012 Olympics to manage the development of the area around Queen Elizabeth Olympic Park in Stratford.
Stadium as a part of larger plan
The main sake for the project was to significantly reduce carbon emissions, in line with the London mayor's - Sadiq Khan - commitment to transform London into a "zero carbon city" by 2030. The idea connected with the stadium was passed by him himself, and the City Hall agreed to spend £45,000 on a feasibility study and business case for the project. LLDC's latest budget documents indicate that the new technology could generate about three million kilowatts of power per year.
Introducing such a change will result in the club paying lower bills, which is especially beneficial in these times when the amounts associated with stadium use are rising rapidly. The increases are closely linked to the ever-increasing values of the facilities. The more revenue generated, the higher the taxes, including "stadium" ones, as the owners of Tottenham Hotspur Stadium or Old Trafford will realize. These 2 stadiums are the ones that have achieved the highest valuations for business rates of all football grounds in the country.